Safeguarding Cultural Heritage, Fostering Sustainable Development: The threats of Climate Change and Acid Rain

George Halkos, Phoebe Koundouri (), Panagiotis-Stavros Aslanidis and Angelos Plataniotis

No 2407, DEOS Working Papers from Athens University of Economics and Business

Abstract: Sustainable development incorporates the sustainable pathway of each civilization. However, cultural heritage assets can be heavily impacted by pollution, such as acid rain and climate change. The present study evaluates cultural heritage assets via a meta-regression analysis function transfer, in which we examined 106 studies, mainly from different countries, in the period 1995 - 2022. This methodology enables the valuation of cultural heritage - tangible and intangible - goods and services, as well as cultural values (e.g. aesthetic, spiritual, symbolic, etc.).The utilization of willingness-to-pay (WTP) would enable us to compare the two models (i.e., European and non-European) on how much a citizen would value cultural heritage based on non-market valuation.The results would inform policymakers about the importance of cultural heritage assets inthe sustainable development agenda. The results present that the WTP for the two examined models for Europe and non-European is 37.6�, and 60.12� respectively.Europeans are influenced mainly by intangible cultural assets, whereas non-Europeans are influenced by oral tradition. Overall, cultural heritage conservation necessitates for proper economic valuation through a holistic approach, in short - the valuation of intangible cultural heritage is imperative for sustainable development in an era of multi-crisis.

Keywords: Willingnesstopay; Tangible cultural heritage; Intangible cultural heritage; Meta-regression analysis; Benefit transfer; Value transfer (search for similar items in EconPapers)
JEL-codes: C5 Q5 Q53 Z1 Z18 (search for similar items in EconPapers)
Date: 2024-02-28
New Economics Papers: this item is included in nep-cul, nep-dcm, nep-env and nep-eur
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Persistent link: https://EconPapers.repec.org/RePEc:aue:wpaper:2407

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