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Informing Resource Allocation for Investment in Early Childhood: A Review of the International Peer‐Reviewed Evidence

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  • Elizabeth A. Geelhoed
  • David E. Bloom
  • Catherine Bock
  • Paul Flatau
  • Joelie Mandzufas
  • Ian Li
  • Donna Cross

Abstract

Early childhood investment decisions represent critical policy frameworks that ideally reflect a strong evidence base. This review seeks to assess early childhood intervention priorities based on return on investment without limitation by health, education or social science sector. A systematic search of peer‐reviewed literature identified 858 eligible papers relating to economic evaluations of intervention in early childhood (0–4 years). Data for this narrative review was provided by 34 papers. The capacity to rank interventions and to compare relevance across disciplines is limited by the degree of heterogeneity across studies and the potential to compare published studies based on journal indices.

Suggested Citation

  • Elizabeth A. Geelhoed & David E. Bloom & Catherine Bock & Paul Flatau & Joelie Mandzufas & Ian Li & Donna Cross, 2022. "Informing Resource Allocation for Investment in Early Childhood: A Review of the International Peer‐Reviewed Evidence," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 55(2), pages 215-231, June.
    • Handle: RePEc:bla:ausecr:v:55:y:2022:i:2:p:215-231
    DOI: 10.1111/1467-8462.12452
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    References listed on IDEAS

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    1. Heckman, James J. & Moon, Seong Hyeok & Pinto, Rodrigo & Savelyev, Peter A. & Yavitz, Adam, 2010. "The rate of return to the HighScope Perry Preschool Program," Journal of Public Economics, Elsevier, vol. 94(1-2), pages 114-128, February.
    2. Don Husereau & Michael Drummond & Stavros Petrou & Chris Carswell & David Moher & Dan Greenberg & Federico Augustovski & Andrew Briggs & Josephine Mauskopf & Elizabeth Loder, 2013. "Consolidated Health Economic Evaluation Reporting Standards (CHEERS) statement," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 14(3), pages 367-372, June.
    3. Lynn A. Karoly, 2011. "Toward Standardization of Benefit-Cost Analyses of Early Childhood Interventions," Working Papers WR-823, RAND Corporation.
    4. Huang, Li & Frijters, Paul & Dalziel, Kim & Clarke, Philip, 2018. "Life satisfaction, QALYs, and the monetary value of health," Social Science & Medicine, Elsevier, vol. 211(C), pages 131-136.
    5. Carneiro, Pedro & Heckman, James J., 2003. "Human Capital Policy," IZA Discussion Papers 821, Institute of Labor Economics (IZA).
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