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O estudo avalia o Fundo Constitucional de Financiamento do Centro-Oeste (FCO) no estado de Goias entre os anos de 2004 e 2011 por meio dos microdados da Relacao Anual de Informacoes Sociais (Rais), e dos emprestimos do Programa Empresarial do FCO. Os impactos dos financiamentos no crescimento do emprego e salarios das empresas instaladas no estado foram estatisticamente significantes e positivos. Os metodos utilizados foram o propensity score matching (PSM) e o propensity score generalizado (PSG), que identifica a variavel de tratamento como continua – inedito na literatura de avaliacao de fundos regionais. Ademais, o efeito dose indica que o valor do emprestimo influencia na quantidade de empregos gerados, assim como na variacao dos salarios, em os resultados do PSG sugerem que, ate o limite de aproximadamente R$ 200 mil, as variacoes proporcionais de emprego e salario sao maiores quanto maiores os montantes contratados de credito. The study evaluates the Constitutional Financing Fund for the Center-West (FCO) in the state of Goias between the years 2004 and 2011, using Rais microdata, and loans from the FCO “Empresarial” Program. The results show a positive and statistically significant impact of the FCO on employment and wage growth at the firm level. We use the Propensity Score Matching (PSM) and the Generalized Propensity Score (GPS) methods. The GPS identifies the treatment variable as continuous. This approach is original in the literature on regional funds evaluation. Moreover, the dose response results indicate that the loans values affect wages and employment, as well the PSG results suggest that around the limit of R$ 200,000.00 the proportional variation of employment and wages are higher as higher are the loans.

Efeito dose resposta do fundo constitucional de fi nanciamento do centro-oeste (FCO) no estado de Goiás