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What role do literary awards and prizes play in recognizing and promoting excellence in literature?

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Literary awards and prizes play a significant role in recognizing and promoting excellence in literature by acknowledging outstanding literary works, authors, and contributions to the field. They help bring attention to high-quality writing, encourage creativity and innovation, and provide validation and recognition to talented writers. Winning prestigious literary awards can also lead to increased visibility, book sales, and opportunities for authors, ultimately helping to elevate the overall quality and diversity of literature available to readers.