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The importance of public resources in the quality of local life: The case of Manizales, Colombia

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  • Liliana Velasquez

Abstract

This paper applies a method designed by the BID to monitor of urban quality based on the combination of two approaches: hedonic prices and lifestile satisfaction. This combination allows the assessment of local public resources from both the market point of view and that of profitability. Unlike other monitoring systems, this one focuses on few dimensions (those related to the occupancy of the urban surroundings) and offers valuable information for the design and prioritization of public policies. The results of the application of the method for the city of Manizales, Colombia, reveal that, although for some public resources the assessment carried out by the market is suitable, for others there is an additional assessment represented in the well-being passed on to the inhabitants and which the market does not manage to capture.

Suggested Citation

  • Liliana Velasquez, 2011. "The importance of public resources in the quality of local life: The case of Manizales, Colombia," Research Department Publications 4739, Inter-American Development Bank, Research Department.
    • Handle: RePEc:idb:wpaper:4739
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    More about this item

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy

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