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Public Sector Support for Special Events

Author

Listed:
  • Larry Dwyer

    (University of New South Wales, Sydney, NSW 2052, Australia.)

  • Peter Forsyth

    (Department of Economics, Monash University, Clayton, Victoria, 3800, Australia.)

Abstract

The standard approach taken to assessing the economic impacts of special events, using input-output (I-O) modeling, has come under increasing attack in the recent research literature. Critics have argued that both I-O modeling should be replaced by computable general equilibrium modeling and that cost benefit analysis should be used to account for the wider social and environmental impacts of events. This article explores the critics concerns, prior to highlighting the preferred economic impact assessment tool. The role of CBA is also discussed, highlighting the type of data that is needed for informed analysis. Researchers tend to treat economic impact analysis and CBA as distinct techniques of assessment, with the potential to provide conflicting recommendations. The article outlines a method for partially integrating the two techniques. To set a context for the discussion, reference is made to the findings from research recently undertaken to estimate both the economic impacts and the net benefits of the Formula One Grand Prix held in Melbourne, Australia.

Suggested Citation

  • Larry Dwyer & Peter Forsyth, 2009. "Public Sector Support for Special Events," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 35(4), pages 481-499.
    • Handle: RePEc:pal:easeco:v:35:y:2009:i:4:p:481-499
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    Citations

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    Cited by:

    1. Dennis Coates & Michael T. Friedman, 2011. "Not A Game Changer ," UMBC Economics Department Working Papers 11-134, UMBC Department of Economics.
      • Dennis Coates & Michael T. Friedman, 2011. "Not A Game Changer," Working Papers 1120, International Association of Sports Economists;North American Association of Sports Economists.
    2. Rolfe, John, 2019. "Simple economic frameworks to evaluate public investments in sporting events in regional Australia," Economic Analysis and Policy, Elsevier, vol. 63(C), pages 35-43.
    3. A. Ramely* & K. Kayat & N. A. Mohd Nor, 2018. "Resident’s Perceived Impacts Onkelantan International Kite Festivals: A Qualitative Enquiry," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 1080-1085:6.
    4. Getz, Donald & Page, Stephen J., 2016. "Progress and prospects for event tourism research," Tourism Management, Elsevier, vol. 52(C), pages 593-631.
    5. Dr. Amen Osamede JEGEDE & Dr. Stella Oluwatoyin Folajimi AINA, 2023. "The Operations and Patronage Pattern of Event Centres in Ekiti State, Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(6), pages 576-589, June.
    6. Robert Minton & Casey B. Mulligan, 2024. "Difference-in-Differences in the Marketplace," Finance and Economics Discussion Series 2024-008, Board of Governors of the Federal Reserve System (U.S.).
    7. Sartori, Martina, 2017. "CGE modeling for the economic assessment of mega-events: A tentative cookbook," Conference papers 332841, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    8. Martina Sartori, 2017. "Hosting a Mega-Event: Is it Good or Bad for the Economy? General Equilibrium Models as a Litmus Paper Test," Working Papers 2017: 21, Department of Economics, University of Venice "Ca' Foscari".
    9. Dennis Coates, 2012. "Not-So-Mega Events," Chapters, in: Wolfgang Maennig & Andrew Zimbalist (ed.), International Handbook on the Economics of Mega Sporting Events, chapter 23, Edward Elgar Publishing.

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