Towards more accurate measurement of the value of the arts to society: economic impact and willingness to pay studies at the Standard Bank National Arts Festival
- Authors: Snowball, Jeanette Dalziel
- Date: 2001
- Subjects: Standard Bank National Arts Festival , Standard Bank National Arts Festival -- Economic aspects , Art -- Economic aspects , Money in art , Art -- Marketing , Performing arts festivals -- Economic aspects -- South Africa -- Grahamstown
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:939 , http://hdl.handle.net/10962/d1002672
- Description: The accurate measurement of the value of the arts to society is becoming increasingly important in developing countries, like South Africa, where the arts must compete with housing, health, education and the like for public funds. Motivation for the public funding of arts events, like the Standard Bank National Arts Festival in Grahamstown, is usually based on the economic impact, that is, the financial benefits to the region, of such events. The argument is problematic, however, because the primary recipients of such economic benefits are often middle to upper income groups who also attend more arts performances. Furthermore, the studies have not taken into account the positive externalities which, it is argued, are generated by the arts and are enjoyed by attenders and non attenders alike. This thesis argues that it is the social benefits which the arts provide, those external to the market, which should be the basis of public funding. In order to quantify these positive externalities, a willingness to pay (WTP) study was conducted in the Grahamstown region. It is generally, but erroneously, believed that the Festival does not benefit the poorer, largely black, Grahamstown East residents. The study found that, in addition to the economic value (R23 - 25 million a year), the non-market benefits which the festival provides are worth between R2.3 and R3 million a year and form a very important part of its value, particularly to low income groups. The study also found that there are methodological adjustments which can be made to WTP studies to successfully control for the many forms of bias it is prone to. By using a combination of closed and open ended and liable and non-liable questions, the motivation of respondents' answers to WTP questions was determined, making it possible to adjust for bias caused by, for example, "free rider" and "warm glow" responses. It is argued that by identifying and excluding such responses from WTP surveys, it is possible to reduce bias to an acceptable level.
- Full Text:
- Date Issued: 2001
- Authors: Snowball, Jeanette Dalziel
- Date: 2001
- Subjects: Standard Bank National Arts Festival , Standard Bank National Arts Festival -- Economic aspects , Art -- Economic aspects , Money in art , Art -- Marketing , Performing arts festivals -- Economic aspects -- South Africa -- Grahamstown
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:939 , http://hdl.handle.net/10962/d1002672
- Description: The accurate measurement of the value of the arts to society is becoming increasingly important in developing countries, like South Africa, where the arts must compete with housing, health, education and the like for public funds. Motivation for the public funding of arts events, like the Standard Bank National Arts Festival in Grahamstown, is usually based on the economic impact, that is, the financial benefits to the region, of such events. The argument is problematic, however, because the primary recipients of such economic benefits are often middle to upper income groups who also attend more arts performances. Furthermore, the studies have not taken into account the positive externalities which, it is argued, are generated by the arts and are enjoyed by attenders and non attenders alike. This thesis argues that it is the social benefits which the arts provide, those external to the market, which should be the basis of public funding. In order to quantify these positive externalities, a willingness to pay (WTP) study was conducted in the Grahamstown region. It is generally, but erroneously, believed that the Festival does not benefit the poorer, largely black, Grahamstown East residents. The study found that, in addition to the economic value (R23 - 25 million a year), the non-market benefits which the festival provides are worth between R2.3 and R3 million a year and form a very important part of its value, particularly to low income groups. The study also found that there are methodological adjustments which can be made to WTP studies to successfully control for the many forms of bias it is prone to. By using a combination of closed and open ended and liable and non-liable questions, the motivation of respondents' answers to WTP questions was determined, making it possible to adjust for bias caused by, for example, "free rider" and "warm glow" responses. It is argued that by identifying and excluding such responses from WTP surveys, it is possible to reduce bias to an acceptable level.
- Full Text:
- Date Issued: 2001
The development of professional short term reinsurance in South Africa : 1950-1985
- Authors: Laing, Angus Wallace
- Date: 1990
- Subjects: Reinsurance -- South Africa
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:926 , http://hdl.handle.net/10962/d1001452
- Description: This thesis covers the history of short term reinsurance in South Africa from 1950 to 1985 and shows how it developed from a very limited market in which insurers generally relied on British and European professional reinsurers to a viable local market albeit with strong foreign support. The study demonstrates that the local reinsurance market grew in parallel with the development of the South African economy and the consequent need for extensive cover arising from the country's industrial expansion. It considers the different problems of the two waves of locally established reinsurers and the different circumstances prevailing in the two distinct eras of South African short term reinsurance. The conclusion reached is that, notwithstanding the varied results of individual reinsurers and the collapse of two local reinsurance companies, the market performed well and succeeded in meeting the needs of the South African short term insurance market
- Full Text:
- Date Issued: 1990
- Authors: Laing, Angus Wallace
- Date: 1990
- Subjects: Reinsurance -- South Africa
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:926 , http://hdl.handle.net/10962/d1001452
- Description: This thesis covers the history of short term reinsurance in South Africa from 1950 to 1985 and shows how it developed from a very limited market in which insurers generally relied on British and European professional reinsurers to a viable local market albeit with strong foreign support. The study demonstrates that the local reinsurance market grew in parallel with the development of the South African economy and the consequent need for extensive cover arising from the country's industrial expansion. It considers the different problems of the two waves of locally established reinsurers and the different circumstances prevailing in the two distinct eras of South African short term reinsurance. The conclusion reached is that, notwithstanding the varied results of individual reinsurers and the collapse of two local reinsurance companies, the market performed well and succeeded in meeting the needs of the South African short term insurance market
- Full Text:
- Date Issued: 1990
Liverpool of the Cape: Port Elizabeth harbour development 1820-70
- Authors: Inggs, Eric Jonathan
- Date: 1987
- Subjects: Harbors -- South Africa -- Port Elizabeth , Exports -- South Africa -- Port Elizabeth , Imports -- South Africa -- East London , Eastern Cape (South Africa) -- History , Port Elizabeth (South Africa) -- History
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:1038 , http://hdl.handle.net/10962/d1004646 , Harbors -- South Africa -- Port Elizabeth , Exports -- South Africa -- Port Elizabeth , Imports -- South Africa -- East London , Eastern Cape (South Africa) -- History , Port Elizabeth (South Africa) -- History
- Description: From the abstract: Fairy tales aside this study is an analysis of Port Elizabeth harbour development during its first half century from 1820-70. Despite the fact that Port Elizabeth quickly came to dominate Cape trade very little was actually done to improve its port facilities. Superficially the impression one gains from the available material is that everything was done by government not to develop a harbour at Algoa Bay. But the real question is: was harbour development really necessary at Port Elizabeth during the period under consideration? The answer must be no. The lack of facilities certainly did not hinder the massive expansion of wool exports that took place before 1870.
- Full Text:
- Date Issued: 1987
- Authors: Inggs, Eric Jonathan
- Date: 1987
- Subjects: Harbors -- South Africa -- Port Elizabeth , Exports -- South Africa -- Port Elizabeth , Imports -- South Africa -- East London , Eastern Cape (South Africa) -- History , Port Elizabeth (South Africa) -- History
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:1038 , http://hdl.handle.net/10962/d1004646 , Harbors -- South Africa -- Port Elizabeth , Exports -- South Africa -- Port Elizabeth , Imports -- South Africa -- East London , Eastern Cape (South Africa) -- History , Port Elizabeth (South Africa) -- History
- Description: From the abstract: Fairy tales aside this study is an analysis of Port Elizabeth harbour development during its first half century from 1820-70. Despite the fact that Port Elizabeth quickly came to dominate Cape trade very little was actually done to improve its port facilities. Superficially the impression one gains from the available material is that everything was done by government not to develop a harbour at Algoa Bay. But the real question is: was harbour development really necessary at Port Elizabeth during the period under consideration? The answer must be no. The lack of facilities certainly did not hinder the massive expansion of wool exports that took place before 1870.
- Full Text:
- Date Issued: 1987
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