nep-tur New Economics Papers
on Tourism Economics
Issue of 2007‒06‒30
nine papers chosen by
Antonello Scorcu
University of Bologna

  1. Cultural Tourism and Collective Trademarks: The Case of Byblos and Saida, Lebanon By Ghafele Roya; Santagata Walter
  2. NASCAR as a Public Good By Dennis Coates; David Gearhart
  3. Make Material Cultural Heritage Work By Friel Martha; Santagata Walter
  4. Short-term to long-term employment effects of the Football World Cup 1974 in Germany By Florian Hagn; Wolfgang Maennig
  5. Collective Trademarks and Cultural Districts: the Case of San Gregorio Armeno - Naples By Cuccia Tiziana; Marrelli Massimo; Santagata Walter
  6. Market Impact of International Sporting and Cultural Events By António Miguel Martins; Ana Paula Serra
  7. Il distretto culturale di San Gregorio Armeno: preliminari per un piano strategico By Motta Emanuela
  8. Una proposta per lo sviluppo economico del distretto culturale di San Gregorio Armeno: il ruolo dell'arte, della cultura e del design industriale By De Caro Stefano; Marrelli Massimo; Santagata Walter
  9. Aspetti istituzionali ed economici della domanda: un'analisi di valutazione contingente sulla disponibilità a pagare per il marchio collettivo di San Gregorio Armeno By Cuccia Tiziana; Santagata Walter

  1. By: Ghafele Roya; Santagata Walter (University of Turin)
    Date: 2006–12
  2. By: Dennis Coates (Department of Economics, University of Maryland, Baltimore County); David Gearhart (Department of Economics, University of Maryland, Baltimore County)
    Abstract: This paper evaluates the impact of NASCAR on the communities that have tracks and host races of the three most prominent series, Cup, Grand National, and Truck. We estimate models in which the rent on housing units is determined by characteristics of the house or apartment, of the neighborhood, and of the standard metropolitan statistical area. The evidence is that tracks and races are significant determinants of rents, especially on non-central city housing units. For those units, a track raises rents from 5 to 8%, a Cup series races raises it an additional 13%, a Grand National race about 6%. Truck races are associated with a small reduction in rents of about 2.5%.
    Keywords: tourism, economic impact, special events, NASCAR, auto racing
    JEL: L83
    Date: 2007–06
  3. By: Friel Martha; Santagata Walter (University of Turin)
    Date: 2007–05
  4. By: Florian Hagn; Wolfgang Maennig (University of Hamburg)
    Abstract: This study demonstrates that the Football World Cup 1974 in Germany was not able to generate any short to long-term employment effects that were significantly different from zero. It is the first work to examine long-term employment effects of Football World Cup tournaments. It is also one of the first work to undertake a multivariate analysis of the employment effects of a major sporting event outside of the USA. In addition, this study does not arbitrarily determine the time period for the potential positive effects of a major sporting event but instead examines several alternative periods. Furthermore, the study tests for method sensitivity by analysing the data set in parallel with the approaches used in the studies of sporting events in the USA as well as in a fourth modifying estimation approach. In contrast to the conclusions reached in comparable studies, the results are not regarded as a clear refutation of the positive effects of major sporting events.
    Keywords: Labour market, regional economics, sports economics, World Cup, Stadium Impact
    JEL: L83 R53 R58
    Date: 2007–06
  5. By: Cuccia Tiziana; Marrelli Massimo; Santagata Walter (University of Turin)
    Date: 2007–03
  6. By: António Miguel Martins (Faculdade de Economia da Universidade do Porto); Ana Paula Serra (Faculdade de Economia da Universidade do Porto)
    Abstract: This paper investigates the impact of international sporting and cultural events on national stock markets. We study market reaction to the announcements of the selected country hosting the Summer and Winter Olympic Games, the World Football Cup, the European Football Cup and World and Specialized Exhibitions. We also measure the market effects of the announcement of the nomination of the European Cultural City. First, we evaluate the abnormal returns of winning bidders at (and around) the announcement date using an event study methodology. We study the impact at market and industry-levels. Second, we analyze the determinants of the variation in abnormal returns across events and industries on the basis of a set of variables found important by previous studies and control for the prior probability of observing the event. Third, on the basis of a simple model of partial anticipation, we reexamine the abnormal returns observed for the winning and losing countries and perform a series of tests to disentangle the different theoretical arguments that could account for the observed stock market behavior. Our initial results suggest that the abnormal returns measured at the announcement date and around the event are not consistently different from zero. Further, when we look at particular industries, we find no evidence supporting that industries, that a priori were more likely to extract direct benefits from the event, observe positive significant effects. Yet when we control for the prior expectations, the announcement of these mega-events is associated with a positive market reaction in the nominated country and a negative reaction in the losing country. Overall we interpret our findings as supportive of rational asset pricing and partial anticipation.
    Keywords: Market efficiency; Event studies; Mega-events
    JEL: G31 G14 L83
    Date: 2007–06
  7. By: Motta Emanuela
    Date: 2007–03
  8. By: De Caro Stefano; Marrelli Massimo; Santagata Walter (University of Turin)
    Date: 2007–03
  9. By: Cuccia Tiziana; Santagata Walter (University of Turin)
    Date: 2007–03

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