This book analyzes the policy issues facing educational planners, administrators and policy makers ind eveloping countries in choosing between alternative strategies of educational investment. It draws on the World Bank's twenty years of experience in education sector analysis and research to discuss both theoretical and practical problems of analyzing investment choices. The topics covered include: the contribution of education to economic and human development, criteria for investment, cost-benefit analysis, demand for educated manpower finance, internal efficiency and quality, equity considerations and the links between investment in education and investment in other sectors. No comparable work exists which deals solely with the problems of analyzing education investment in developing countries. While written for those involved in policy formulation and planning, it does not assume a high degree of technical knowledge of economics.
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George Psacharopoulos is at The World Bank. Maureen Woodhall is at University of London Institute of Education.
"The strength of the book lies...in its provision of a comprehensive, excellently documented review of the relevant research and policy-oriented literature....A well-organized, authoritative volume that will serve well the needs of teachers, students, educational administrators, and policymakers. It is likely to be consulted frequently by all of these, as well as by scholars, with profit."--Economic Development and Cultural Change
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