The Budgeting of Portuguese Public Museums: A Dynamic Panel Data Approach

Carlos Santos,  Maria Alberta Oliveira, João Coelho |  World Business and Economics Research Conference (2012)

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.