The Rate of Return to the High/Scope Perry Preschool Program
AbstractThis 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 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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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 4533.
Length: 63 pages
Date of creation: Oct 2009
Date of revision:
Publication status: published in: Journal of Public Economics, 2010, 94 (1-2), 114-128
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Other versions of this item:
- 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.
- James J. Heckman & Seong Hyeok Moon & Rodrigo Pinto & Peter A. Savelyev & Adam Yavitz, 2009. "The Rate of Return to the High/Scope Perry Preschool Program," NBER Working Papers 15471, National Bureau of Economic Research, Inc.
- James J. Heckman & Seong Hyeok Moon & Rodrigo Pinto & Peter A. Savelyev & Adam Yavitz, 2009. "The Rate of Return to the High/Scope Perry Preschool Program," Working Papers 200936, Geary Institute, University College Dublin.
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-11-14 (All new papers)
- NEP-EDU-2009-11-14 (Education)
- NEP-LTV-2009-11-14 (Unemployment, Inequality & Poverty)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- "A Post-Racial Strategy for Improving Skills to Promote Equality"
by Mark Thoma in Economist's View on 2011-03-20 02:38:00
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