The economic impact of UNESCO World Heritage: Evidence from Italy
研究了意大利入选联合国教科文组织世界遗产名录对当地收入和房产价值的影响，发现城市地区有显著提升，适合关注文化遗产经济效应的学者。
This paper investigates the impact of the UNESCO World Heritage List (WHL) inscription on income and property values in Italian municipalities with heritage sites inscribed during the past two decades. To address the selection bias and identify the causal impact of inscription, we focus on municipalities having sites included in the national ‘tentative list’ (i.e., a list of candidates for subsequent nomination) and exploit the plausibly exogenous timing of inscription conditional upon being on the list. The evidence from a heterogeneity-robust event study analysis suggests that WHL listing has a significant impact on income and property prices in urban areas. Possible underlying mechanisms are discussed.