Abstract

Hosting sports events to attract international tourists is a common policy practised by many host governments. Hosting mega-sports events like the Olympics is said to leave a legacy that could impact the attractiveness of a country/city in the long term. However, the opportunity to host these mega-events is limited and expensive. This study considers the economic impact of hosting annual international sporting events, specifically the extent to which Formula 1, ATP Tennis and PGA Golf can attract international tourists. Using monthly data from 1998 to 2018, we show that the effect differs from one sport to another within a country and the same sport across countries. Hosting the Formula 1 is most effective for Canada but has no significant impact in Australia and the United Kingdom. ATP Tennis and PGA Golf have a significant impact on at least two countries. Policy-makers must consider carefully the sport that gives the best bang-for-the-buck.

Keyword

Formula 1 ;  golf ;  international tourists ;  sports tourism ;  tennis

Abstract

As China aimed to transform her growth into an innovation-driven model, we study the impact of China's effort to promote technology inventions. By linking to Google Patents, we compile a comprehensive set of patent quality indicators. Based on Chinese provincial panel data from 1995 to 2010, we find that the effect of the implemented patent subsidy policies on quantity, as well as various quality metrics of patents, was significantly positive. Moreover, the explanation power of subsidy policies on both patent quantity and quality diminished as time goes by. We also find that the effect of these policies depended on the growth rate of experienced innovators rather than entrants. Since the implemented policies we study in this paper were designed to focus on subsidizing expenses incurred during the patenting process, our results show that the provided partial funding led the way for improving China's patent quality.

Keyword

China ;  Innovation ;  Patent quality ;  Patent subsidy policy

Abstract

Hosting sports events to attract international tourists is a common policy practised by many host governments. Hosting mega-sports events like the Olympics are said to leave a legacy that could impact the attractiveness of a country/city in the long term. However, the opportunity to host these mega-events are limited and expensive. This study considers the economic impact of hosting annual international sporting events, specifically the extent to which Formula-1, ATP Tennis, and PGA Golf can attract international tourists. Using monthly data from 1985 – 2018 and we show that the effect differs from one sport to another within a country, and the same sport across countries. Hosting the Formula-1 is most effective for Canada but has no significant impact in the UK. ATP tennis has a significant impact on all three countries but may not be the star event. Policy-makers must consider carefully the sport that gives the best bang-for-the-buck.

Keyword

F1, Tennis ;  Golf ;  international tourists ;  sports tourism