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The Effects Of Major Sports Events On Economic Growth And Foreign Direct Investment Inflows: The Results Of Empirical Estimation

Author

Listed:
  • Groznykh Rogneda

    (Ural Federal University)

  • Igor Drapkin

    (Ural Federal University)

  • Oleg Mariev

    (Ural Federal University)

Abstract

In the modern literature there is no consensus on the effects arising in countries as a result of hosting major sports events, namely the Olympic Games, FIFA World Cup and UEFA European Championship. This paper focuses on two aspects of the major sports events effects in the hosting country: on economic growth and foreign direct investment inflows. The estimated database includes indicators for all countries that hosted major sport events during 1970?2015. This paper confirms the hypotheses of positive effects both on economic growth and foreign direct investment in the hosting countries. Positive significant effects are found not only during the period of preparation to the event, but (what is more important) during the 4 to 12 year period after the event.

Suggested Citation

  • Groznykh Rogneda & Igor Drapkin & Oleg Mariev, 2018. "The Effects Of Major Sports Events On Economic Growth And Foreign Direct Investment Inflows: The Results Of Empirical Estimation," Proceedings of Economics and Finance Conferences 6910164, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:6910164
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    File URL: https://iises.net/proceedings/10th-economics-finance-conference-rome/table-of-content/detail?cid=69&iid=030&rid=10164
    File Function: First version, 2018
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    More about this item

    Keywords

    major sports events; economic growth; foreign direct investment inflows; the Olympic Games; FIFA World Cup; UEFA European Championship; effects of hosting major sports events; Solow model;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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