ECONOMICS UNIQUENESS

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264 ■ THE ECONOMICS OF UNIQUENESS A small historic village or a historic core will not easily suit the macroeconomic perspective because most of the economic activities we want to measure as economic values appear outside of the city. Despite the methodological diffi culty of capturing macroeconomic impacts from the heritage and its conservation (or in other words, capturing the value of the macroeconomic multiplier in a city), it is still feasible to identify particular values that are induced by heritage-related activities. Th e aim is not to measure precisely (using an econometric model) the macroeconomic growth of the city but to illustrate “impacts from the heritage on the local economy, to the extent that they are spatially identifi able.” 12 Values accrued to a local economy are another way to describe use values, when they are mostly collective and randomly distributed across the city. Indicators of impacts on the local economy include expenditures, income, or jobs. Th ey are related to production, consumption, and investment. Indeed, the historic conservation is an investment process itself, which generates a fl ow of macroeconomic impacts over time. Th ese impacts are to be considered similarly to individual benefi ts in a cost-benefi t analysis. Conservation maintains or improves the condition of heritage, but also its attractiveness. Conservation creates new businesses, stabilizes old ones, enhances the quality of life in the city, and provides benefi ts to many stakeholders—tourists and residents included. Economic values sprawl around the heritage, and cover an undetermined area. A convenient analogy is the economic hinterland, or a zone coming under the economic and commercial infl uence of an urban center. Th ere is no absolute rule in tracing a hinterland: economic impacts do not necessarily propagate in concentric circles with decreasing intensity; they could disseminate further and in other directions than anticipated. Mapping units refer to where the initial impulse takes place, and where the impacts and values are distributed. Table (9.2) gives some examples of factors inducing an impact, the corresponding macroeconomic indicators, and spatial identifi cation (mapping units). Map 9.4 displays three mapping features combined: (1) a base map of an indicator of impacts on the local economy (e.g., change in number of jobs, or change in income growth) in a grey-color progression; (2) the boundary of the heritage protected area (as a brown line); (3) the spatial identifi cation of new investment during the previous period (red dots). Adding together the three mapping tools visualizes the expected correlation between private business investment, its impact on the local economy, and the heritage. Map 9.5 displays four areas selected in the inner historic city of Diest in Belgium. Impacts on the local economy are assessed for all areas, on the basis of local surveys.
MAPPING HERITAGE ECONOMICS FOR SPATIAL ANALYSIS ■ 265 TABLE 9.2 Examples of Ways to Map the Impact of Heritage Activities on Local Economies Heritage-related activity Festival, heritage open day Expenditures made during the event (use values) Income from tourist-related activities re-spent in the economy (multiplier effect) Property values for non-heritage buildings Private investment and new business start due to historic status, or heritage conservation projects* Indicators of impacts on the local economy Mapping units Number of jobs, income generated in related sectors Place where the festival is organized, and streets where expenditures take place Locations where jobs and income generation take place** Property values (use values) Parcels or blocks of properties (heritage vs. non-heritage properties) Jobs created, income generated Locations of projects, of new business, and its impact *Either a positive impact (higher income, new job) or the absence of a negative impact (no job lost, no foreclosures). **In Djenné, Mali, for example, this can be fairly clearly identifi ed because neighborhoods historically have been organized by the various professional groups (e.g., fi shermen, masons, merchants, guides), and still are to a certain extent today. Source: Author. Impacts on the local economy are the result of individual decisions or of collective decisions taken by the public authorities. In the economic literature, macroeconomic impacts are commonly related to public initiatives. 13 Most of the macroeconomic impulses being directed at heritage or its conservation by public authorities (at the city, regional, or national level) induce a large array of benefi ts and values. Mapping these values is similar to the previous analysis. In today’s world, the debate between supporters of profi t-oriented (private) and government-supported (public) cultural activities still persists. Public intervention remains common in the domain of culture, as the collective dimension of heritage implies collective responsibility, which is endorsed by community representatives. Economists agree that the market system is more effi cient in resource allocation, but only to the extent that conditions of fair competition prevail. In the fi eld of cultural heritage and conservation activities, conditions of perfect competition rarely exist.
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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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INVESTING IN THE SENSE OF PLACE ■
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0 45° INVESTING IN THE SENSE OF PL
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FIGURE 2.4 continued INVESTING IN T
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A Dubious Alternative: Property Rec
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46 ■ THE ECONOMICS OF UNIQUENESS
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TABLE 4.1 Overview of Hedonic Price
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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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Page 245 and 246: 8 Financial Mechanisms for Historic
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ECONOMICS UNIQUENESS

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