ECONOMICS UNIQUENESS

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68 ■ THE ECONOMICS OF UNIQUENESS Table 3.1 shows the proportions of respondents agreeing or disagreeing with each statement. Th ese results indicate a positive attitude toward the heritage characteristics of the Old Bazaar. Th e role of the area and its heritage as important contributors to defi ning and celebrating Macedonian culture is clearly implied by the responses. Correspondingly, investing in improvements in the area is viewed as a sound use of resources. It appears that the strongest sense of the Old Bazaar’s importance derives from its cultural relevance rather than from its visual appeal or its livability, although the latter factors are nevertheless seen in a positive light. Th ere is unanimous agreement that the Old Bazaar is worth maintaining and that it should not be demolished to make way for modern development. Th is result can be compared with the views of visitors to the control site in Prilep, where no signifi cant heritage investment has been undertaken; just over 20 percent of these visitors thought the Old Bazaar in that city should be demolished (Th rosby 2012). As already noted, conservation of cultural heritage assets in historic city cores is likely to give rise to signifi cant non-market benefi ts. Th ese benefi ts arise as public goods enjoyed in various ways by businesses, residents, and visitors both in the project site and in the wider urban environment. Th ey may be related directly to the heritage assets themselves, or they may derive from a more general sense of improved amenity as a result of the project. In the former case, the non-market demand is likely to be based on perceptions of the existence, option, and bequest values of the heritage in question, as discussed earlier in this chapter. In the latter case, the increased livability is likely to be more diff use in its origins. Whatever the source of these benefi ts, however, the demand for them can be assessed as willingness to pay among the relevant group of stakeholders. Rigorous estimation of these benefi ts requires a carefully controlled contingent valuation or choice modeling study, which pays attention to: • Defi ning the population of benefi ciaries; • Using appropriate procedures to ensure a valid random sample is drawn, if necessary stratifi ed according to variables of interest; • Designing a questionnaire that provides necessary information and realistic scenarios to respondents; • Including questions that yield objective data on respondents’ perceptions of the strength of the external or public-good eff ects under consideration; • Controlling for biases in soliciting respondents’ willingness to pay; and • Specifying a feasible payment vehicle comprehensible to respondents. Carrying out such a study would require research resources that typically are unavailable or cannot be easily mobilized in developing countries. It may nevertheless be possible to undertake a purely exploratory exercise to identify simply
TABLE 3.1 Perception of Cultural Benefi ts by Visitors to Skopje Old Bazaar, FYR Macedonia (percent) The Old Bazaar is an important part of Macedonian culture Restoring the Old Bazaar improves Skopje as a place to visit or live in Investing in improvements in the Old Bazaar is a waste of money The Old Bazaar is a place that helps people come together The renovated buildings of the Old Bazaar are beautiful The Old Bazaar gives me a sense of Macedonian cultural identity The Old Bazaar should be demolished and replaced with modern buildings I have learnt something about my cultural heritage from being here Source: Author. Strongly agree Agree Neutral Disagree Strongly disagree Total 79.2 13.1 5.5 2.2 0 100 23.0 61.2 10.9 4.9 0 100 0 1.1 2.7 23.0 73.2 100 33.8 30.1 21.9 12.6 1.6 100 41.0 29.5 23.0 5.5 1.1 100 24.6 63.9 7.1 4.4 0 100 0 0 0 6.0 94.0 100 31.1 48.1 14.2 6.6 0 100 HERITAGE ECONOMICS: A CONCEPTUAL FRAMEWORK ■ 69
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Public Disclosure Authorized Public
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Th e Urban Development Series discu
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© 2012 International Bank for Reco
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vi ■ CONTENTS Project Appraisal i
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viii ■ CONTENTS Appendix II: Addi
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x ■ CONTENTS 7.4 Tourism Is Coupl
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xii ■ CONTENTS 9.1 How to Organiz
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Exegi monumentum aere perennius reg
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ACKNOWLEDGMENTS ■ xvii Cultural O
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xx ■ OVERVIEW What Are the Object
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xxii ■ OVERVIEW and captures the
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xxiv ■ OVERVIEW periphery, especi
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xxvi ■ OVERVIEW tourism—by impr
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xxviii ■ OVERVIEW 3. Institutiona
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1 Livable Historic City Cores and E
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LIVABLE HISTORIC CITY CORES AND ENA
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2 Investing in the Sense of Place:
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118 ■ THE ECONOMICS OF UNIQUENESS
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FIGURE 6.5 Quito and Oaxaca: Timeli
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TABLE 6.5 Quito Investments in the
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7 UNESCO World Heritage List, Touri
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UNESCO WORLD HERITAGE LIST, TOURISM
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TABLE 7.1 Regional and Historical D
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TABLE 7.3 Benchmark Regressions Fir
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TABLE 7.10 Robustness to Using Diff
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8 Financial Mechanisms for Historic
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FINANCIAL MECHANISMS FOR HISTORIC C
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BOX 8.2 FINANCIAL MECHANISMS FOR HI
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BOX 8.3 FINANCIAL MECHANISMS FOR HI
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TABLE 8.1 Local Financial Tools Use
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FIGURE 8.4 Brownfi eld Concession T
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Boxes, fi gures, maps, notes, and t
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China. See also specifi c cities ac
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public sector role, 222-26, 223b, 2
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Kraay, A., 198 Kratz, C. G., 96 L l
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Pine Ridge Reservation (U.S.), 238
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Shaoxing, China, local residents re
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urban economics appraisal approach,
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ECO-AUDIT Environmental Benefits St
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ECONOMICS UNIQUENESS

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