ECONOMICS UNIQUENESS

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296 ■ INDEX tourism, 7, 183–212 admission fees and, 281n9 economic development and, 65, 78, 184, 184f, 200b empirical analysis, 193–99, 195–96t, 200–208t in environmental economics approach, 22 governance and, 176 heritage designations and, 125 overview, 184–87 regulatory environment and, 282n16 resource allocation and, 155 spatial analysis for, 254–62, 257m, 273 travel cost method and, 94–95 trends in, 184, 209n10 UNESCO World Heritage List and, 186, 187–93, 188f, 189t, 190b, 191t, 209n4 valuation of, 92b transaction costs, 217 transport infrastructure, 82, 261, 268 travel cost method of valuation, 83, 94–95, 253–54 Trinity College (Dublin), 11 Tunisia impact investment funds in, 237 urban upgrading impact on property values in, 126b Turkey, brownfi eld redevelopment in, 221b, 232–33 Turkish Foundation, 232 Twitter, 12 U UDFs (urban development funds), 217, 233–36 unemployment, 2 UNESCO, 46, 76, 79, 149 UNESCO World Heritage List Archaeological Park of Copan (Honduras), 55b coverage of, 188–90, 188f, 189t environmental protection projects and, 192b fi nancing and, 168 political clout and, 190–93, 191t spatial distribution of, 280n4 tourism and, 186, 187–93, 188f, 189t, 190b, 191t, 209n4 Walled City of Baku, Azerbaijan, 110, 111b World Bank investments in sites on, 190b United Kingdom (UK) conjoint choice analysis in, 94 heritage designations in, 110–11 historic environment initiative in, 58, 72n2 rental data in, 113 stakeholders in, 147 United Nations, 191–92, 191t, 209n7. See also UNESCO United States. See also specifi c cities and states brownfi eld redevelopment in, 214–15, 238, 239 competitiveness of cities in, 4 heritage designations in, 112, 118f stakeholders in, 147 tax increment fi nancing in, 232 urban development funds in, 234 University College Dublin, 11 urban development funds (UDFs), 217, 233–36 urban economics appraisal approach, 22, 23–24, 25 urbanization, 4–6, 16 urban spatial function, 270–74, 271f urban upgrading, 15–43. See also renovation of buildings appraisals, 21–24 architectural standards and, 38 concepts for, 18–20 demolition decisions, 27–28, 29f, 36 design of cultural component, 36–40 distributional eff ects and, 40–42 economic returns for, 20–21 environmental economics appraisal approach, 22–23 externalities for, 26–28, 35–36 heritage as economic concept in, 29–30 incentives for, 37–38 investment decisions, 24–27 irreversibility of demolition decisions, 36 local residents vs. outside investors, 41–42 notation for, 18–20, 18f overview, 16–18 private sector participation, 24–28, 27f property reclamation and, 39–40 property rights and, 40–42 public intervention rationale, 34–36 regulations for, 37–38 social impact assessments for, 40–41 socially optimal preservation, 28–34, 32–33f
urban economics appraisal approach, 23–24 use values, 254–66 cultural tourism and, 254–62, 257m in environmental economics approach, 53b governance and, 145–46 heritage designations and, 109, 140n1 in heritage economics, 52 local economic impact and, 262–66, 262–63m, 265t real estate values and, 254–58 spatial analysis and, 249, 250, 251t, 272–73, 276, 278 tourism-related, 258, 261 travel cost method and, 95 utility maximization, 21, 57, 88 V vacancy rates, 113, 255 vacant properties, 130–31, 140n6 Valparaiso, Chile building stock condition in, 176t decision-making process in, 161, 162–67, 163–65f, 167t fi nancing in, 168–73, 169f land uses in, 175f valuation, 45–106. See also non-use values; use values biodiversity valuation model for, 85–87, 86b compensation methods, 89 cost-benefi t analysis, 80, 80b, 89–91 cultural value, 54–58, 55b economic value, 52–54, 57–58 environmental economics approach to, 53b functional perspective, 81–85, 84–85b hedonic price method, 95–102, 98–99t in heritage economics, 51–58 land value fi nance (LVF) and, 217, 230–33 overview, 76–78 property values. See property values revealed preference methods, 94–97 social cost-benefi t methods, 89–91 stated preference methods, 91–94, 92b tools for, 87–97 travel cost method, 94–95 urban upgrading projects, 21–24 INDEX ■ 297 Venice, Italy cruise ship tourism in, 282n17 regulation of historic district in, 282n16 Venice Charter (1964), 214 Verona, Italy, urban regeneration strategy in, 122 vicarious use value, 82 Victor Civita Square (São Paulo, Brazil), 229–30 Victoria Falls, Zambia, 200b Vienna, Austria, quality of life ratings for, 280n7 Vienna Memorandum (2005), 247, 248 Vietnam heritage defi ned in, 214 landmarks and historic centers in, 16 Vilnius, Lithuania, fi scal incentives for heritage protection in, 64b VU University, 117 W Walled City of Baku, Azerbaijan, 110, 111b Walled City of Lahore, Pakistan, 259b Washington, D.C., heritage designations in, 120 Washington Charter (1987), 247 water and sanitation, access to, 19 Water Health International, 237 weak sustainability, 50 West Pomerania, Poland, brownfi eld redevelopment in, 235–36 Wielkopolska, Poland, brownfi eld redevelopment in, 235–36 willingness-to-pay studies, 93 Willis, K. G., 94 WMF (World Monuments Fund), 221b World Bank. See also specifi c projects GDP data from, 198 on heritage as asset, 46–47, 64–65 heritage investment projects, 65 on involuntary resettlement, 134 Private Participation in Infrastructure Project database, 226 Sub-Saharan Africa development strategy of, 187b urban and local government strategy, 79 World Heritage Convention, 46, 149, 170 World Investment Report (UNCTAD), 3 Th e World is Flat (Friedman), 4 World Monuments Fund (WMF), 221b World Tourism Organization, 209n10
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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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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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