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Unintended Consequence of Centralized Public School Funding in Michigan Education

Author

Listed:
  • Ron Zimmer

    () (RAND, 201 North Craig Street, Pittsburgh, PA)

  • John T. Jones

    () (Georgetown College, Business and Economics Department)

Abstract

As part of the movement to create greater spending equity among school districts, states have centralized funding for public education and instituted funding formulas where high-spending districts are often constrained in their operational expenditures. However, these school districts often maintain local discretion over capital expenditures financed by the sale of bonds. In this study, we find that Michigan's high-spending school districts have a greater probability of issuing bonds after centralizing public school funding, indicating that debt financing of capital expenditures may have become a mechanism to allow these school districts to circumvent the policy's intent for greater spending equity.

Suggested Citation

  • Ron Zimmer & John T. Jones, 2005. "Unintended Consequence of Centralized Public School Funding in Michigan Education," Southern Economic Journal, Southern Economic Association, vol. 71(3), pages 534-544, January.
  • Handle: RePEc:sej:ancoec:v:71:3:y:2005:p:534-544
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    Citations

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    Cited by:

    1. Hong, Kai & Zimmer, Ron, 2016. "Does Investing in School Capital Infrastructure Improve Student Achievement?," Economics of Education Review, Elsevier, vol. 53(C), pages 143-158.
    2. Paul N. Thompson & Joseph Whitley, 2017. "The effect of school district and municipal government financial health information on local tax election outcomes: evidence from fiscal stress labels in Ohio," Public Choice, Springer, vol. 170(3), pages 265-288, March.

    More about this item

    JEL classification:

    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy

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