Investing in Early Learning as Economic Development at the Minneapolis Federal Reserve Bank Harvard Case Solution & Analysis

In his role as senior vice president and director of research at the Federal Reserve Bank of Minneapolis (Minneapolis Fed), Art Rolnick and his colleague Rob Grunewald, was written: "Early Childhood Development: Economic Development with a High Public Return." Thesis was quite simple, early childhood development (ECD) had the greatest impact as states and local governments should invest in it. But the idea of ​​investing in ECD for economic development was new and had never been tested on a large scale, particularly in the way Rolnick and Grunewald recommended in the later work - using market forces to stimulate demand for high-quality ECD programs. Minnesota Early Learning Foundation (MELF), founded in 2005, has invested in two projects designed to test the recommendations of economists. St. Paul Early Childhood Scholarship Program (SPECSP) provided up to $ 13,000 per year per child for the parents in the two districts of St. Paul, to select high-quality ECD programs of their choice. MELF also invested in the Five Hundred in 5 (FHU5), a program designed to strengthen the Minneapolis capacity and improve service quality. SPECSP in comparison FHU5 to offer ideas about the potential impact of supply-side versus demand-side initiatives ECD. Rolnick reflected in two experiments MELF. Which would be more effective? Will parents in St. Paul really drive up the quality of suppliers through choices they have made, or was it better to work directly with suppliers to improve quality?
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by Stacey Childress, Geoff Marietta Source: Harvard Business School 31 pages. Publication Date: February 23, 2009. Prod. #: 309090-PDF-ENG

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