This paper is the first to study the effects of hosting Olympic Games on regional economic output beyond population dynamics. For identification, runners-up in the Olympic bidding process are used to construct the counterfactual for Olympic host regions. In the short run, hosting Summer Olympics boosts regional GDP per capita by about 3–4 percentage points relative to the national level in the year of the event and the year before. There is also evidence for positive long-run effects, but results on the latter are not statistically robust. In contrast, Winter Olympics do not have a positive impact on host regions. If anything, they lead to a temporal decline in regional GDP per capita in the years around the event.

本文是第一个研究举办奥运会对人口动态以外的区域经济产出的影响的论文。为了进行识别，使用奥运会申办过程中的亚军来构造奥运会主办地的反事实。在短期内，举办夏季奥运会相对于赛事当年和前一年的国家水平，地区人均GDP增长了约3-4个百分点。也有长期积极影响的证据，但后者的结果在统计上并不稳健。相比之下，冬季奥运会对举办地区没有积极的影响。如果有的话，它们会导致事件前后几年人均地区GDP暂时下降。