Journal of Economic Perspectives
ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)
Protecting Antiquities: A Role for Long-Term Leases?
Journal of Economic Perspectives
(pp. 127–48)
(Complimentary)
Abstract
In order to preserve cultural patrimony for future generations, most countries ban exports of antiquities. However, this may drive trade underground, particularly in low-income and low-state capacity contexts, and cause irreversible damage to cultural heritage. We argue that complementing export bans with fixed-duration, long-term leases can strengthen incentives for maintenance and revelation of antiquities, while preserving cultural patrimony. Allowing only leases rather than sales limits potential losses from corrupt deals between foreign collectors and government officials. Standardized contracts with set lease lengths, insurance requirements, and care requirements may also be necessary to limit corruption and establish a well-functioning market.Citation
Kremer, Michael, and Tom Wilkening. 2025. "Protecting Antiquities: A Role for Long-Term Leases?" Journal of Economic Perspectives 39 (3): 127–48. DOI: 10.1257/jep.20241416Additional Materials
JEL Classification
- D73 Bureaucracy; Administrative Processes in Public Organizations; Corruption
- F13 Trade Policy; International Trade Organizations
- K42 Illegal Behavior and the Enforcement of Law
- Z13 Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification