Jérôme Massiani - Economic impacts of mega events: what do economists have to say?
Melbourne Institute Seminar Series
Melbourne Institute Seminar Room
Room 6.05, FBE Building
111 Barry St, Carlton
Title: Economic impacts of mega events: what do economists have to say?
Abstract: In many countries, mega events are still perceived as a tool to boost regional development. This view, that has been dominating for long is however challenged by a growing number of scientific assessments and by increasing doubts in the public opinion. The proposed seminar intend to critically review the main competing paradigms, namely Input-Output, Cost Benefit Analysis and Computable General Equilibrium. We present the results of these investigations based on the analysis of more than 60 studies spread across the methodologies and show their limitations.
Generally, it appears that each method conveys important bias which routinely imply distortions in the order of magnitude of the billion of dollar or euro. Many of these distortions could be corrected through more careful consideration of the economic mechanisms at stake. Even with these corrections, however, existing methods only tell a tiny part of the whole story which usually makes them hardly suitable to provide relevant policy recommendations.
Presenter: Jérôme Massiani, Université Ca' Foscari
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