Economic Development Indicators as Determinants of Medal Winning at the Sydney Olympics: An Extreme Bounds Analysis

Imad A. Moosa and Lee Smith

Australian Economic Papers, 2004, vol. 43, issue 3, 288-301

Abstract: This paper examines the variables that determine the performance of countries at the Olympic Games as measured by a weighted sum of the medals won at the Sydney 2000 Games. While previous studies have identified the importance of a country's economic size and the resources available to sport, this paper examines nine more variables including the number of athletes representing each nation and some development indicators. Based on 2310 regressions, both traditional and restricted extreme bounds analysis show that only two variables are robust: the number of athletes and national expenditure on health. Thus, the final model recognises four explanatory variables that include these two as well as GDP and population.

Date: 2004
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