Fungibilidade dos repasses dos recursos de loteria no Brasil: evidências empíricas
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2018-03-23
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Féres, José Gustavo
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In almost every country, as in Brazil, lottery revenues are earmarked for specific purposes, such as education, culture and health. However, many academic researches argue if the earmarked lottery revenue provides incremental budgets increases or simply acts as a substitute of resources, then it’s known as an economic phenomenon called Fungibility. This research aims to investigate, based on empirical studies, the occurrence of fungibility in federal lottery revenues in Brazil in education, security, culture and sports areas during the periods of 2000 and 2016. Unlike most academic literature about this subject, which has been concentrated in developed countries and produced empirical evidence in pro-fungibility in lottery revenues, the present study has shown empirical evidence against the fungibility in lottery revenues in Brazil. Therefore, this evidence reveals that it is beneficial to earmark lottery revenue in Brazil to investments programs in social areas.