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Katja Lindqvist.

Katja Lindqvist

Senior lecturer, associate professor

Katja Lindqvist.

Museum finances: challenges beyond economic crises

Author

  • Katja Lindqvist

Summary, in English

Economic crises directly and indirectly affect the financial health of museums. Despite this reality, however, analysing the impact of the economic cycle on museums has not generated much interest among researchers; to date published studies on the recent financial crisis and its reverberations in the museum sector are rare. This article, after acknowledging this lack of research, discusses specific

challenges facing the financial management of museums and identifies the need for additional empirical research on the problems facing these institutions. Based on the author’s findings in published research and accumulated field experience, the article identifies income originating from various museum stakeholders and examines the vulnerability of these funds to fluctuations in the economy. While

most museum income streams are not found to be particularly vulnerable to economic fluctuation, structural challenges for the financial management of museums do exist beyond economic crises. Therefore, the management of longterm, stakeholder relationships is a more reliable way of achieving financial stability than the implementation of short-term strategies to counter the effects of

a recession and financial crises.

Department/s

  • Department of Service Studies

Publishing year

2012

Language

English

Pages

1-15

Publication/Series

Museum Management and Curatorship

Volume

27

Issue

1

Document type

Journal article

Publisher

Routledge

Topic

  • Social Sciences Interdisciplinary

Keywords

  • governance
  • museum funding
  • museum management
  • stakeholder
  • financial strategy
  • sustainability

Status

Published

ISBN/ISSN/Other

  • ISSN: 0964-7775