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In this paper, we wonder whether public expenditures crowd out or not voluntary contributions made by individuals to associations. According to the theoretical model, both financial and time transfers have to be taken into account. The determinants of these two types of voluntary contributions are analyzed using the survey “Vie associative” conducted in 1992 by Insee. Our empirical analysis shows that these transfers are important and that time and money transfers are complementary. When considering public expenditures measured at the departmental level, we find no significant crowding out effect of public expenditures on voluntary contributions.