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11. News shocks in the data: Olympic Games and their macroeconomic effects – Reply

Author:
Viktoria Langer, Wolfgang Maennig, and Felix J. Richter
Publication Date:
10-2015
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
Recent analyses relate increases in the growth rate of countries to anticipation effects caused by bidding for the Olympic Games, so called news shocks. We argue that these findings should be interpreted cautiously. First, these analyses may suffer from an omitted variable bias because they neglect key determinants of economic growth. Second, these analyses compare the bidders for the Olympic Games to all other countries in the world, which constitutes a comparison between groups that show large differences in their structural characteristics. We show that including established determinants of economic growth and comparing the bidders to a suitable control group may lead to a complete disappearance of the anticipated economic effects of Olympic Games.
Topic:
GDP, Sports, Economic Growth, Olympics, and Macroeconomics
Political Geography:
Global Focus

12. Exports and Olympic Games: Is there a Signal Effect?

Author:
Wolfgang Maennig and Felix J. Richter
Publication Date:
01-2012
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
Rose & Spiegel (2011) find that Olympic Games host countries experience significant positive, lasting effects on exports. They interpret their results as an indication that countries use the hosting of such events to signal openness and competitiveness. We challenge these empirical findings on the grounds that a comparison of structurally different and non-matching groups of countries might suffer from a selection bias. We demonstrate that with an appropriate matching and treatment methodology, the significant Olympic effect disappears.
Topic:
Economics, International Trade and Finance, Olympics, and Exports
Political Geography:
Global Focus

13. How to Win the Olympic Games - The Empirics of Key Success Factors of Olympic Bids

Author:
Arne Feddersen and Wolfgang Maennig
Publication Date:
09-2007
Content Type:
Working Paper
Institution:
Chair for Economic Policy, University of Hamburg
Abstract:
This paper examines the probability of the success of city bid campaigns on the basis of quantified determinants for a total of 48 bids for the Summer Olympic Games between 1992 and 2012. Using a model comprising the distance of sporting venues from the Olympic Village, local temperatures and unemployment rates, we can correctly predict the decision for 100% of failed bids and 50% of successful bids.
Topic:
Economics, Sports, Olympics, and Bids
Political Geography:
Global Focus