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Economic Valuation of Cultural Heritage: A Case Study of Historic Temples in Thailand

Author

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  • Udomsak Seenprachawong

    () (School of Development Economics, National Institute of Development Administration)

Abstract

This study looks at how conservation of Thailand's ancient temple heritage might be financed. Using information from contingent valuation and choice modeling exercises involving 500 households in Bangkok, it assesses how much Thais would be willing to pay for a conservation program to safeguard ten at-risk temple sites. It also looks at the main elements of such a temple conservation program to see which are most highly prized. It finds that, on average, individuals would be willing to make a one-time payment of 200 Baht (USD5.30), either as a tax surcharge or as a voluntary donation to finance the conservation program. Extrapolating these results nationally, this would generate more than enough money to finance a temple conservation program. The study also proposes the main elements of a national program to preserve historic temples in Thailand. Local communities and the private sector (in regions where historic temples are located) are highlighted as the key players in any such initiative.

Suggested Citation

  • Udomsak Seenprachawong, 2006. "Economic Valuation of Cultural Heritage: A Case Study of Historic Temples in Thailand," EEPSEA Research Report rr2006124, Economy and Environment Program for Southeast Asia (EEPSEA), revised Dec 2006.
  • Handle: RePEc:eep:report:rr2006124
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    File URL: http://www.eepsea.org/pub/rr/11694338871UdomsakRR12.pdf
    File Function: First version, 2006
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    Cited by:

    1. Wright, William C.C. & Eppink, Florian V., 2016. "Drivers of heritage value: A meta-analysis of monetary valuation studies of cultural heritage," Ecological Economics, Elsevier, vol. 130(C), pages 277-284.

    More about this item

    Keywords

    Temple; Thailand;

    JEL classification:

    • Z10 - Other Special Topics - - Cultural Economics - - - General

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