Rationale for public investments in primary education in developing countries

Abstract

The purpose of this paper is to review the literature on the rationale for public investments in primary education, especially with respect to recent international initiatives such as Education for All (EFA) and the education Millennium Development Goals (MDGs). Keeping this that in mind, the paper's main point is to review the literature that assesses the justifications, economic and non-economic, for public investment in pursuit of these goals. Also, with respect to the economic arguments, the paper begins by exploring the theory of human capital development and related concepts as a basis for public investment in primary education. It will make a distinction between private and public rates of return. It then survey's the micro-economic and macro-economic evidence in support of a strong focus on primary education.

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