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Mr Baade reckons that, instead, the event depressed growth, as some tourists kept away to avoid football fans.
ECONOMIST: Britain's Olympic bid
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In a recent paper, Robert Baade, the economist Bloomberg cites, deals another blow to the idea that propping up stadiums is good public finance.
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There is little data on the economic impact on Olympic cities, but Mr Baade studied what the 1994 soccer World Cup did to its nine American host cities.
ECONOMIST: Britain's Olympic bid
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Baade and colleagues agrees that these gains rarely show up.
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Robert Baade, an economist at Chicago's Lake Forest College, says that the perceived benefits of a successful Games like Sydney tend to be offset by the number of tourists who stay away.
ECONOMIST: Britain's Olympic bid
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Robert Baade, an economist at Chicago's Lake Forest College, looked at the perceived benefits of a successful Olympics like Sydney and found that they tend to be offset by the number of tourists who stay away.
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Those who believe the Olympics can bring lasting change to a city -- beyond the spike in economic activity during the event -- are often misguided, suggested economist Rob Baade of Lake Forest College in Lake Forest, Illinois.
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