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Lottery Sales and Per-capita GDP: An Inverted U Relationship

Author

Listed:
  • Maria João Kaiseler
  • Horácio C. Faustino

Abstract

The main purpose of this study is to test the hypothesis that the relationship between per-capita sales and per-capita GDP is given by an inverted U. The paper considers that lottery sales increase together with increases in GDP up to a point where a country has reached a level at which the GDP is high enough and lottery sales become an inferior good and as a result, start to decrease. As there are other determinants of the expenditure on lottery products, the paper introduces into the regression analysis other explanatory factors as control variables. The paper uses a cross-country regression, using 2004 data for 80 countries. The results confirm the hypothesis, in addition to yielding other interesting findings: countries with higher levels of education sell fewer lottery products; lottery sales increase together with increases in the male to female ratio.

Suggested Citation

  • Maria João Kaiseler & Horácio C. Faustino, 2008. "Lottery Sales and Per-capita GDP: An Inverted U Relationship," Working Papers Department of Economics 2008/41, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    • Handle: RePEc:ise:isegwp:wp412008
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