Review of the economic aspect of Beijing 2022 Winter Olympic Games

Abstract

To estimate whether holding the Beijing 2022 Winter Olympic Games could promote notable economic growth within a country or trigger the situation of government deficit to some extent, this article will first introduce two economic models, the Solow Growth Model and the Endogenous Growth Model, which are widely used to solve economic problems, then applicate these two models to analysis this issue respectively by comparing to the precise data released by official institutions. Data from some authorities, the Beijing Organizing Committee for the 2022 Olympic and Paralympic Winter Games, and the National Bureau of Statistics of China were used to measure some variables affecting a nation’s economy, such as GDP per capita, TFP, capital, employment, and so on. Finally, through comparing relative variables in each model to determine two results about if Beijing 2022 Winter Olympic Games is positive for economic growth. Inevitably, each kind of model may have limitations that are not able to be adaptable to all sorts of situations, thus, in the last part of this article, some loopholes in analyzing this issue will be shown.