The Budgeting of Portuguese Public Museums: a dynamic panel data analysis

João Coelho and Carlos Santos ()
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João Coelho: Faculdade de Economia e Gestão - Universidade Católica Portuguesa - Porto

No 32008, Working Papers de Economia (Economics Working Papers) from Católica Porto Business School, Universidade Católica Portuguesa

Abstract: In this paper, the first panel on sources of funding for Portuguese publicly owned museums is explored. There has been little work in this field worldwide, and none for Portugal. Evidence in this paper seems contrary to that relating to the UK and to the US. We find that incremental budgeting still plays a major role on the funding of Portuguese museums, allowing for inefficient management and moral hazard: the interests of museums’ management may diverge clearly from those of the authorities ruling them and from those of the general public. We also find that the ability to generate their own revenues plays no role in the funding allocated to museums every year. Budgeting is mainly determined by past operating costs. Policy changes seem to be advisable. The scarce relevance of museum patronage by the private sector makes a discussion of possible crowding out effects irrelevant in the current Portuguese context.

Keywords: museums; incremental budgeting; moral hazard; dynamic panel data (search for similar items in EconPapers)
JEL-codes: C33 D73 Z11 Z19 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2008-05
New Economics Papers: this item is included in nep-cul and nep-lab
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