Convergence of Cultural and Historical Heritage Financing Models as a Factor in the Development of Knowledge Based Economy in Russia

Liudmila Goryainova (), Igor Krishtal (), Olga Kuznetsova () and Ekaterina Lisovskaya ()
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Liudmila Goryainova: Plekhanov Russian University of Economics Russia, Postal: RU
Igor Krishtal: Plekhanov Russian University of Economics Russia, Postal: RU
Olga Kuznetsova: Plekhanov Russian University of Economics Russia, Postal: RU
Ekaterina Lisovskaya: Plekhanov Russian University of Economics Russia, Postal: RU

Journal of Advanced Research in Management, 2018, vol. 9, issue 4, 803-814

Abstract: The article substantiates the importance of the synthesis of new spiritual values and traditional cultural and historical objects for increasing human capital asset in knowledge based economy conditions which necessitates an increase in their funding The role of the cultural capital as a theoretical basis of heritage research is revealed It is demonstrated that the concept of the cultural capital linking the economic and cultural spheres leads to an understanding of the regularity of expectations of return on investment in cultural heritage objects and thus develops integration processes objects are involved in economic activity becoming attractive to investors The hypothesis of convergence of cultural and historical heritage objects financing models was put forward and confirmed the results of which are the formation of a new financing model and heritage ecosystem including actors in the process technology funding and institutional environment The features of a new model of cultural heritage financing are revealed the use by the state along with budgetary allocations of indirect support measures through tax preferences and social technologies as well as the attraction of private investment through public private partnerships charity grants endowment funds

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:srs:jemt00:v:9:y:2018:i:4:p:803-814

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