Valuing the economic and social impact of the Carnival of Blacks and Whites of Pasto, Colombia

Mario Eduardo Hidalgo Villota ()
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Mario Eduardo Hidalgo Villota: Universidad de Nariño

Lecturas de Economía, 2019, issue 90, 195-225

Abstract: The Carnival of Blacks and Whites held in the city of Pasto, Colombia, was inscribed by UNESCO on the Representative List of the Intangible Cultural Heritage of Humanity in 2009. The objective of this article is to evaluate the economic and social impact of this carnival using data from the 2017 version. To this end, some of the analytical tools of the economics of culture are used, such as the methods of input-output analysis, cost-benefit analysis, the contingent valuation method and matrices of qualitative assessment. Use of these analytical tools allow concluding that this carnival is profitable both economically and socially because it expands the local productive capacity, generates material wealth, creates new jobs and increases investment.

Keywords: Carnival of Blacks and Whites of Pasto; cost-benefit analysis; economics of culture; cultural public goods (search for similar items in EconPapers)
JEL-codes: D61 D70 H41 Z10 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:lde:journl:y:2019:i:90:p:195-225

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DOI: 10.17533/udea.le.n90a07

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