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The Relationship between Sports Industry Development and Economic Growth in China

Author

Listed:
  • Tetiana Kharchenko

    (Sumy National Agrarian University, Sumy, Ukraine)

  • Liu Ziming

    (Sumy National Agrarian University, Sumy, Ukraine)

Abstract

With the development of economy, people's pursuit of quality of life is increasing day by day, which lays a foundation for the development of sports industry in China. For example, in some western developed countries, the contribution of sports industry to economy has far exceeded that of traditional industry and become a new growth point of economic development. Although China's sports industry has made certain development, it is still in its infancy. Compared with the western developed countries, the development of China's sports industry is still relatively slow, and there are still some problems to be solved in the development of sports industry. This paper mainly studies the relationship between sports industry and economic development in China. Based on the statistical index data of national economy and sports industry development from 2011 to 2020, the relationship between sports industry development and national economic growth in China is empirically analyzed by using mathematical statistics and VAR model. According to the research results, there is a high correlation between the sports industry and economic development. The development of the sports industry is based on a certain level of economic growth of the country, while the development of the sports industry at a certain stage will have a multiplier effect. It is proved that the state should contribute to the development of the sports industry, because this ensures the symbiotic development of the national economy, which generally leads to an increase in the quality of life. To do this, it is necessary to stimulate the activity of the sports market and create a fair and open system of legal support, as well as standardize the assessment and supervision system.

Suggested Citation

  • Tetiana Kharchenko & Liu Ziming, 2021. "The Relationship between Sports Industry Development and Economic Growth in China," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 136-140, March.
    • Handle: RePEc:iaf:journl:y:2021:i:1:p:136-140
    DOI: 10.33146/2307-9878-2021-1(91)-136-140
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    References listed on IDEAS

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    1. Andrei Shleifer & Lawrence H. Summers, 1988. "Breach of Trust in Hostile Takeovers," NBER Chapters, in: Corporate Takeovers: Causes and Consequences, pages 33-68, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Murat Aygün & Yunus Savaş & Dilek Alma Savaş, 2023. "The relation between football clubs and economic growth: the case of developed countries," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-11, December.

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    More about this item

    Keywords

    sports industry; economic growth; added value of sports industry; China GDP; China's economy;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Z21 - Other Special Topics - - Sports Economics - - - Industry Studies

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