Educational correlates and opportunity

Lafortune et al 2015
This study analyzed the impact on test scores of 68 changes to school spending that took place at the state level between between 1990 and 2013. They estimate that a $500 increase in spending led to a .09 SD increase in test scores.

Jackson et al 2018
This study looked at how variation in school funding caused by the Great Recession impacted student performance. They estimate that a 10% reduction in spending led to a .078 SD reduction in test scores and a 2.6% decrease in graduation rates.

Miller 2018
This study analyzed data on changes in school funding due to changes in property valuation across 24 states. On this basis, Miller estimates that a 10% increase in spending leads to a .05 to .09 SD increase in test scores and a 2.1% to 4.4% increase in graduation rates.

Jackson et al 2015
This study analyzed changes to school spending and estimated the following relationships:  “a 10 percent increase in per-pupil spending each year for all twelve years of public school leads to 0.27 more completed years of education, 7.25 percent higher wages, and a 3.67 percentage-point reduction in the annual incidence of adult poverty; effects are much more pronounced for children from low-income families.”