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

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  • Imad A. Moosa
  • Lee Smith

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.

Suggested Citation

  • Imad A. Moosa & Lee Smith, 2004. "Economic Development Indicators as Determinants of Medal Winning at the Sydney Olympics: An Extreme Bounds Analysis," Australian Economic Papers, Wiley Blackwell, vol. 43(3), pages 288-301, September.
    • Handle: RePEc:bla:ausecp:v:43:y:2004:i:3:p:288-301
    DOI: 10.1111/j.1467-8454.2004.00231.x
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    References listed on IDEAS

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    1. Andrew B. Bernard & Meghan R. Busse, 2000. "Who Wins the Olympic Games: Economic Development and Medal Totals," NBER Working Papers 7998, National Bureau of Economic Research, Inc.
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    1. Who will win the Olympics?
      by Economic Logician in Economic Logic on 2008-08-08 12:05:00

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    1. David M. Waguespack & Robert Salomon, 2016. "Quality, Subjectivity, and Sustained Superior Performance at the Olympic Games," Management Science, INFORMS, vol. 62(1), pages 286-300, January.
    2. Pablo Castellanos García & Jesús A. Dopico Castro & José M. Sánchez Santos, 2007. "The economic geography of football success: empirical evidence from european cities," Rivista di Diritto ed Economia dello Sport, Centro di diritto e business dello Sport, vol. 3(2), pages 67-88, Settembre.
    3. Loek Groot, 2012. "The Contest for Olympic Success as a Public Good," Journal of Income Distribution, Ad libros publications inc., vol. 21(1), pages 102-117, March.
    4. Alvarez, J. & Forrest, D. & Sanz, I. & Tena, J.D., 2011. "Impact of importing foreign talent on performance levels of local co-workers," Labour Economics, Elsevier, vol. 18(3), pages 287-296, June.
    5. T. Potts, 2014. "Governance, corruption and Olympic success," Applied Economics, Taylor & Francis Journals, vol. 46(31), pages 3882-3891, November.
    6. Todd B. Potts, 2022. "Does it pay to Play by the Rules? Respect for Rule of law, Control of Corruption, and National Success at the Summer Olympics," Journal of Sports Economics, , vol. 23(2), pages 222-245, February.
    7. Glen Roberts, 2006. "Accounting for Achievement in Athens: A Count Data Analysis of National Olympic Performance," Econometrics Working Papers 0602, Department of Economics, University of Victoria.
    8. Charlotte Van Tuyckom & Karl Jöreskog, 2012. "C. Van Tuyckom, & K. Jöreskog, “Going for gold! Welfare characteristics and Olympic success: an application of the structural equation approach.” Quality & Quantity (in press)," Quality & Quantity: International Journal of Methodology, Springer, vol. 46(1), pages 189-205, January.
    9. Darryl P Leong & Martin McKee & Salim Yusuf & on behalf of PURE Investigators, 2017. "Population Muscle Strength Predicts Olympic Medal Tallies: Evidence from 20 Countries in the PURE Prospective Cohort Study," PLOS ONE, Public Library of Science, vol. 12(1), pages 1-10, January.
    10. Vagenas, George & Vlachokyriakou, Eleni, 2012. "Olympic medals and demo-economic factors: Novel predictors, the ex-host effect, the exact role of team size, and the “population-GDP” model revisited," Sport Management Review, Elsevier, vol. 15(2), pages 211-217.
    11. Heather Mitchell & Mark Stewart, 2007. "A competitive index for international sport," Applied Economics, Taylor & Francis Journals, vol. 39(5), pages 587-603.
    12. Yun Hyeong Choi & Qingyuan Wei & Luyao Zhang & Seong-Jin Choi, 2022. "The Impact of Cultural Distance on Performance at the Summer Olympic Games," SAGE Open, , vol. 12(1), pages 21582440221, March.
    13. Franklin G. Mixon Jr. & Richard J. Cebula, 2022. "Property Rights Freedom and Innovation: Eponymous Skills in Women's Gymnastics," Journal of Sports Economics, , vol. 23(4), pages 407-430, May.
    14. Jie Wu & Zhixiang Zhou & Liang Liang, 2010. "Measuring the Performance of Nations at Beijing Summer Olympics Using Integer-Valued DEA Model," Journal of Sports Economics, , vol. 11(5), pages 549-566, October.
    15. L.F.M. Groot, 2007. "The welfare optimal distribution of Olympic Success considered as a public good," Working Papers 07-13, Utrecht School of Economics.
    16. Kavetsos, Georgios & Szymanski, Stefan, 2010. "National well-being and international sports events," Journal of Economic Psychology, Elsevier, vol. 31(2), pages 158-171, April.
    17. Tjeerd M. Boonman & Andrea E. Sanchez Urbina, 2020. "Extreme Bounds Analysis in Early Warning Systems for Currency Crises," Open Economies Review, Springer, vol. 31(2), pages 431-470, April.
    18. Alexander Rathke & Ulrich Woitek, 2008. "Economics and the Summer Olympics," Journal of Sports Economics, , vol. 9(5), pages 520-537, October.
    19. Caroline Buts & Cind Du Bois & Bruno Heyndels & Marc Jegers, 2013. "Socioeconomic Determinants of Success at the Summer Paralympics," Journal of Sports Economics, , vol. 14(2), pages 133-147, April.

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