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Investments in Education: The Early Years Offer Great Potential

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  • C. Katharina Spieß

Abstract

Investments in education are of great importance for the competitiveness of the German economy. In particular, early childhood education programs promise high returns - because children can benefit from them even years later and find it easier to acquire new skills. These are the results of research in the field of the economics of education in recent years, at least when high quality programs are studied. However, these findings do not necessarily reflect public spending on the different education sectors - in reality, comparatively little is invested in young children. There is a need for more investment in education - especially to increase the quality of education programs - but not only in early childhood. Also, with regard to the expansion of all-day schools, more should be invested in the quality of such programs. In higher education, efforts are needed to improve access of educationally disadvantaged groups and therefore improve intergenerational mobility. All these measures could facilitate a more effective and efficient use of human capital. This is also of particular importance against the backdrop of a forecast decline in labor force potential and predicted skill shortages.

Suggested Citation

  • C. Katharina Spieß, 2013. "Investments in Education: The Early Years Offer Great Potential," DIW Economic Bulletin, DIW Berlin, German Institute for Economic Research, vol. 3(10), pages 3-10.
  • Handle: RePEc:diw:diwdeb:2013-10-1
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    File URL: https://www.diw.de/documents/publikationen/73/diw_01.c.429357.de/diw_econ_bull_2013-10-1.pdf
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    Citations

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    Cited by:

    1. Hermes, Henning & Mierisch, Fabian & Peter, Frauke & Wiederhold, Simon & Lergetporer, Philipp, 2023. "Discrimination on the Child Care Market: A Nationwide Field Experiment," IZA Discussion Papers 16082, Institute of Labor Economics (IZA).
    2. Henning Hermes & Philipp Lergetporer & Fabian Mierisch & Guido Schwerdt & Simon Wiederhold, 2024. "Does Information about Inequality and Discrimination in Early Child Care Affect Policy Preferences?," CESifo Working Paper Series 10925, CESifo.
    3. Cornelia Serena, PASCA, 2016. "The Human Capital - A Long Term Investment," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 1(4), pages 51-62.
    4. Marina Krauß & Niklas Rott, 2024. "Early Childcare Expansion and Maternal Health," SOEPpapers on Multidisciplinary Panel Data Research 1208, DIW Berlin, The German Socio-Economic Panel (SOEP).
    5. Hermes, Henning & Lergetporer, Philipp & Peter, Frauke & Wiederhold, Simon, 2021. "Behavioral Barriers and the Socioeconomic Gap in Child Care Enrollment," Discussion Paper Series in Economics 16/2021, Norwegian School of Economics, Department of Economics.
    6. Jessen, Jonas & Schmitz, Sophia & Waights, Sevrin, 2020. "Understanding Day Care Enrolment Gaps," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Forthcomi.
    7. Henning Hermes & Philipp Lergetporer & Frauke Peter & Simon Wiederhold, 2021. "Application Barriers and the Socioeconomic Gap in Child Care Enrollment," CESifo Working Paper Series 9282, CESifo.

    More about this item

    Keywords

    Education policy; early education; rate of return; investments;
    All these keywords.

    JEL classification:

    • I2 - Health, Education, and Welfare - - Education
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy

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