The Olympic impact on hosting candidate countries

Resumo

In this paper, we analyze the impact of hosting the Summer Olympics on macroeconomic aggregates such as GDP, consumption, government consumption and investments per capita. The data is in panel structure and includes the period of ten years before and ten years after the event containing the Olympic Summer Games between 1960 and 1996. The sample countries comprise only candidates to host the games. This sampling strategy allows us to estimate the average treatment effect consistently, because it is assumed that these countries are comparable to each other, including those that ultimately hosted the games. The impact of hosting the Olympic games is measured by Fixed Effect and First Difference regressions. Moreover, we do a structural break test developed by Andrews (1993) to identify if hosting the Olympic Games creates anticipation effects for demand changes that stimulate current GDP, consumption, government consumption and investments. The results indicate a positive effect of the Summer Olympics in all variables of interest. However, the distribution in time and anticipation of these effects is unclear in the tests, changing significantly depending on the model and the significance level used.

Ficha do documento

Tipo

Dissertação

Ano

2011

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Inglês

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/10176

Temas

Economia

Palavras-chave

Average treatment effectOlimpíadasEfeito de tratamentoOlympicsEconomiaOlimpíadas - Aspectos econômicosModelos econométricos