Greece prides not only in its cultural heritage but also in its “culture” as quite often issues related to the promotion of arts play an important role in political and other public campaigns. However, it is questionable whether public promises and reality are in fact compatible. This issue becomes more significant at the aftermath of the Olympic Games 2004, which were hosted successfully in Athens. Despite the high cost, the Summer Olympic Games 2004 were expected by Greek government and public alike to be an event where the benefits would outweigh the costs. The Games were envisioned as a fundamental force in the development strategy of the country. First, a general framework regarding cultural policy will be presented. Secondly, the issue of finance and government subsidies will be discussed. Finally, quantitative analytics will be developed in order to assess whether cultural expenditures increase without being vulnerable to short term fluctuations derived from public policy variations and political business cycles.
|Keywords:||Cultural Policy, Arts, Heritage, Cultural Expenditure, Greece|
Assistant Professor, Department of Statistics, Actuarial Studies and Financial Mathematics, University of the Aegean, Athens, Greece
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