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STADIUMS AND ARENAS: ECONOMIC DEVELOPMENT OR ECONOMIC REDISTRIBUTION?
Author(s) -
COATES DENNIS
Publication year - 2007
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.2007.00073.x
Subject(s) - warrant , subsidy , attendance , economics , stadium , redistribution (election) , redistribution of income and wealth , scale (ratio) , public economics , business , public good , economic growth , market economy , political science , finance , geography , microeconomics , geometry , mathematics , politics , law , cartography
This article explores the literature on the impact of professional sports teams and stadiums on their host communities. A large body of research has addressed these issues, some of it academic and much of it for hire by team and sport boosters. The broad conclusion of this literature is that stadiums and franchises are ineffective means to creating local economic development, whether that is measured as income or job growth. There may be substantial public benefits from stadiums and franchises, but those too are insufficient to warrant large‐scale subsidies by themselves. In combination with consumer surpluses from attendance, however, subsidies may be efficient. ( JEL R58, J30, H71, L83)