Suchergebnisse

Abstract
In the United States, the reform of the financial system of capital expenditure is under consideration, as people believe the current system through local referenda contributes to inequality in student achievement across school districts. Several studies using a regression discontinuity design (RDD) find zero to modest positive effects of capital expenditure on student achievement; however, these studies identify only the effect of capital expenditure financed by a marginally passed bond with a vote share at the cutoff. In this paper I estimate the average effect of capital expenditure on student achievement by incorporating a latent factor model into the existing RDD framework, and comparing school districts that are similar in their underlying confounding variables, namely preferences for educational investment. The results show that, on average, capital expenditure financed by a passed bond does not have significant effect on student achievement.

After two decades of relative political stability and unprecedented economic progress, South Korea is once again racked with political disorder, civil strife, and student unrest. The trouble began in Seoul in May with massive demonstrations by students demanding free elections for a new government and a quick end to martial law. What followed was a virtually total military takeover of the government and even more inclusive martial law. The initially peaceful demonstrations escalated into grave civil strife, bringing Kwangju, the country's fourth largest city, under the control of protesting youths.