Lord, How I Want to Be in That Number! On the Blessing of UNESCO World Heritage Listing
Enrico Bertacchini,
Federico Revelli and
Roberto Zotti
No 10293, CESifo Working Paper Series from CESifo
Abstract:
This paper studies the impact of UNESCO World Heritage List (WHL) inscription on income and property values in the Italian municipalities that had their sites inscribed during the past two decades. To address the selection bias and identify the causal impact of inscription, we focus on sites included in the national ‘tentative list’ (i.e., list of candidates for subsequent nomination) and exploit the plausibly exogenous timing of inscription conditional upon entering the list. The evidence from an event study analysis suggests that WHL listing has a significant impact on the level and distribution of income. Possible underlying mechanisms are discussed.
Keywords: UNESCO World Heritage List; economic impact; real estate market; tourism (search for similar items in EconPapers)
JEL-codes: H24 H71 H73 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-des and nep-eur
References: Add references at CitEc
Citations: View citations in EconPapers (2)
Downloads: (external link)
https://www.cesifo.org/DocDL/cesifo1_wp10293.pdf (application/pdf)
Related works:
Working Paper: Lord, how I want to be in that number! On the blessing of UNESCO World Heritage listing (2023) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_10293
Access Statistics for this paper
More papers in CESifo Working Paper Series from CESifo Contact information at EDIRC.
Bibliographic data for series maintained by Klaus Wohlrabe ().