Results suggest that hosting a MSE was generative of HTX for Developed nations, but not for Developing nations. The analysis investigates the effect of a MSE on host nations' high technology exports (HTX). Three characteristics of MSEs make them of interest: they require significant influxes of scarce resources, additional rents from disrupted markets spillover to non-event contexts, and MSEs' international scale provides opportunities for cross-border relationships. MSEs spur massive technological projects that must be undertaken to prepare the locale. One variable that has received scant attention is whether or not an economy hosted a mega sport event (MSE). Because positive linkages are regarded as situational, research investigated a range of covariates that could moderate the relationship. Plenty of research has investigated the relationship between exports and economic growth. This result implies that, without carefully considering the time horizons of the effects of mega events, impact studies may be prone to over- or under-estimating the benefits of the mega events.
This finding is robust to different specifications. The effects on exports are slow and persist for long periods of time, whereas those on tourists are quick and short-lived.
The patterns are, however, different for exports and tourists. Our empirical results show that the Summer Olympics have positively and significantly affected exports and tourists. This paper more thoroughly estimates the effects of Summer Olympics on exports and tourism using the Rose and Spiegel¡¯s data set extended up to 2008. For example, signaling model by Rose and Spiegel (2010) argues that mega events are the signals of liberalization the country sends, and that the hosting of mega events spurs exports. Recent studies turn attentions to indirect benefits. Previous studies estimated the direct benefits and costs of Olympic Games, and concluded that the net effects were positive or negative depending on specific assumptions used for evaluations. There have been debates on the effects of Olympics on economy.
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