This article discusses the experience of six conditional cash transfer programmes in Latin America, a model of social safety‐nets which has grown to dominate the social protection sector in the region during the past decade. While they have been generally successful in terms of achieving their core objective, it is still not clear whether these programmes constitute the most cost‐efficient or sustainable solution to the development bottleneck they seek to address. Furthermore, the almost exclusive focus on the human capital accumulation of children leads to missed opportunties in terms of impact on household welfare and the broader rural development context.
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