Monday, June 5, 2017

Substantial life-cycle benefits of an influential early childhood program targeted to disadvantaged children - especially makes


This paper estimates the life-cycle benefits of an influential early childhood program targeted to disadvantaged children that is currently being replicated around the world. It has substantial impacts on the lives of participant children and their mothers. Monetizing benefits and costs across multiple domains, we estimate a baseline internal rate of return of 13.7% per annum and a baseline benefit/cost ratio of 7.3. We conduct extensive sensitivity and robustness analyses to produce ranges of plausible values for the estimates of the internal rate of return (8.0, 18.3) and the benefit/cost ratio (1.52, 17.40). 

Consistent with the previous literature, there are substantial differences in economic returns that favor males.


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