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Arts Investment Forum

The relationship between public and private financing of culture in the EU
Topics: public and private funding policies / research
Keywords:  Paper - European Union - EU - public and private financing - arts and culture - government - market - third sector -valuation of culture

Thisc onference paper focuses on the mode of financing of the arts and culture and on the differences between public and private modes of financing. It refers to cultural policies in Europe: their objectives, the administrative organisation and the financial instruments. The main questions are: can a combination of the two modes of financing generate an increase in financial resources devoted to the arts and culture. Or does public support crowd-out private intervention? Can governments stimulate private support of the arts and culture? How effective are tax incentives? The study looks at three main sources of funds: the government, the market, and the third sphere (non-profit sector). Each has its own logic, and tends to generate its own institutions and organisations. Any cultural policy may need to take these sources and their consequences into account because the way a cultural good is financed will matter to its valuation and functioning.

Published by: Arjo Klamer, Anna Mignosa, Lyudmilla Petrova
Year of publication: 2010
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