The Impact of 2008 Olympic Games on Economic Growth in Beijing
The modern Olympic movement, produced in the late 19th century, has become the largest event for peaceful purposes in human history. Into the 80s of the 20th century, the trend in commercialization of the Olympic Games becomes clearer, and the economic value of the Olympic Games becomes more apparent. So, what mechanism of the Olympic Games organized to affect the economy in host city? How to analyze the economic impact of the Olympics? What effects of the economic impact of the Olympic Games are reflected? How much the effects of the economic impact of Olympic Games? These are the questions the paper will study and try to answer.
The dissertation is divided into two parts: basic theoretical analysis, empirical study of the economic impact of the Olympic Games.
Olympic Games will bring both the positive effects and negative effects on the economy in the host city. In the positive effects, the direct impacts include the promotion of the GDP growth in host city, employment growth and development of related industries, investment climate improvement; indirect effects include enhancement of human capital, promotion of regional economic development. Negative impacts mean the idle sports facilities, damage to urban beneficiaries live, and spending more on other aspects of social extra.
Study and learn from the experience on the previous Olympic on economic and social the positive impacts in host cities and host countries, compared to the economic effect to promote the development of these circumstances in the Olympic host city, it is recognized the view that economic effects of the 2008 Olympic Games is expected to be with a tremendous impact on the economy in China and Beijing.
Finally, a time series model and the production function model are established to analyze the success of the Beijing Olympic Games on the economic growth.
Keywords: the growth of economy and Beijing Olympic Games; employment; investment
Table of Contents
Chapter 1 Introduction 5
1.1 Background and significance 5
1.1.1 Research background 5
1.1.2 Research significance 6
1.2 Aims & objectives 7
1.3 Research methods 7
Chapter 2 Literature Review 8
2.1 Concept of Olympic economy 8
2.2 Economic impact of Olympic Games on host city 10
2.2.1 Positive impact of Olympic Games on the economy in host city 10
2.2.2 Negative impact of Olympic Games on the economy in host city 17
2.3 Data analysis of the impact of Olympic Games on host city 18
2.4 Descriptive prediction on the economic impact of Beijing 24
Chapter 3 Research Design 26
3.1 Sample selection 26
3.2 Modeling 28
3.2.1 Time series model of GDP in Beijing from 1978 to 2008 29
3.2.2 Time series model of employment in Beijing from 1978 to 2008 32
3.2.3 Time series model of investment in fixed assets 36
3.2.4 Production function model 41
Chapter 4 Results and Discussions 45
4.1 Regression model selection of panel data 45
4.2 Panel data results and analysis 47
Chapter 5 Conclusions and Recommendations 49