The Rate of Return to the High/Scope Perry Preschool Program.

The Rate of Return to the High/Scope Perry Preschool Program.
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返回高/范围佩里学前班计划的回报率。

DOI:
10.1016/j.jpubeco.2009.11.001
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发表时间:
2010-02-01
影响因子:
9.8
通讯作者:
Yavitz, Adam
Yavitz, Adam
中科院分区:
经济学1区
文献类型:
--
作者:
Heckman, James J.;Moon, Seong Hyeok;Pinto, Rodrigo;Savelyev, Peter A.;Yavitz, Adam

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本文估计了高/范围佩里学前教育计划的回报率,这是一个针对弱势非洲裔美国青年的早期干预计划。对佩里项目回报率的估计被广泛引用,以支持学前教育项目带来巨大经济效益的说法。先前对该方案回报率的研究忽略了随机化方案中出现的妥协。它们不报告标准错误。本文估计的收益率考虑了这些因素。我们对各种可能的假设进行了广泛的敏感性分析。估计的年社会回报率一般在7 - 10%之间,大多数估计比以前文献报道的要低得多。然而,男性和女性的回报率通常在统计上显著不同于零,并且高于历史股本回报率。估计的效益成本比支持这一结论。
This paper estimates the rate of return to the High/Scope Perry Preschool Program, an early intervention program targeted toward disadvantaged African-American youth. Estimates of the rate of return to the Perry program are widely cited to support the claim of substantial economic benefits from preschool education programs. Previous studies of the rate of return to this program ignore the compromises that occurred in the randomization protocol. They do not report standard errors. The rates of return estimated in this paper account for these factors. We conduct an extensive analysis of sensitivity to alternative plausible assumptions. Estimated annual social rates of return generally fall between 7–10 percent, with most estimates substantially lower than those previously reported in the literature. However, returns are generally statistically significantly different from zero for both males and females and are above the historical return on equity. Estimated benefit-to-cost ratios support this conclusion.
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