This paper examines the fungibility of earmarked government revenues by analyzing the relationship between state and local government spending on education and net lottery revenues earmarked for educational purposes. Panel data for the states and the District of Columbia for the 1984-96 period suggest that variations in net lottery revenue per capita earmarked for education are associated nearly dollar-for-dollar with variations in state and local education spending per capita.
|Original language||English (US)|
|Number of pages||20|
|Journal||Pennsylvania Economic Review|
|State||Published - 2005|