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fp234.pdf

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<p>Education levels in less developed countries (LDCs) rank far below those observed in the developed world: around 20 per cent of primary school-aged children and between 50 and 70 per cent of secondary school-aged children do not attend school in LDCs. This compares to non-attendance rates of 1 per cent and 30 per cent amongst primary and secondary school-aged children respectively, in developed economies. </p><p> </p><p>Given widespread evidence on the importance of schooling for equipping individuals with the ability to earn more in the future and lift themselves out of poverty, the desirability of increasing education levels in LDCs is clear. The question is how can policymakers best finance and allocate scarce resources to increase education levels?</p>