Vinita Deodhar
| Name: Vinita Deodhar Course: PHD;ECON Department: Department of Economics Staff Supervisor: Professor David Throsby Email Address: vdeodhar@efs.mq.edu.au Thesis Title Economic Valuation of Heritage Policy Programs |
Abstract
The research deals with the economic valuation of community benefits of local heritage programs. Privately owned heritage buildings form a significant proportion of the local, built heritage in NSW. Recent years have seen an increase in efforts by local governments to integrate heritage conservation into overall environmental management plans. Local heritage policy programs involve identification and assessment of the cultural significance of properties and preparation of appropriate development planning instruments.
Use of public funds for restoration work is kept to a minimum – property owners bear the costs of such work. The thesis investigates if economic valuation of the community benefits of such programs is feasible. While addressing this primary aim, the thesis develops an empirical estimate of the benefits of an improved heritage program for the local government area of Ku-ring-gai in Sydney. Contingent valuation methodology and hedonic price analysis are used.
The results of the hedonic price analysis are provided in a Macquarie Economics Research paper titled “Does the housing market value heritage? Some empirical evidence from Sydney” ( Number 3/2004). This paper can be viewed at: http://www.econ.mq.edu.au/research/2004/Deodhar_Mar04.pdf
Vinita made a submission to the Productivity Commission for its public inquiry into policy framework and incentives for the conservation of Australia built heritage. The submission can be viewed at: