On November 10, 2005, the Kalamazoo Public School District announced that a group of anonymous donors had funded a new college scholarship program for district graduates named the Kalamazoo Promise. The primary qualification for scholarship eligibility is continuous residency and enrollment in the Kalamazoo Public School District, and the scholarship is set up in perpetuity. This study assesses the extent to which the Kalamazoo Promise is serving as an economic development tool. Results indicate that the Kalamazoo Promise dramatically increased enrollment in the Kalamazoo Public School District, but there is no evidence that the Kalamazoo Promise increased home values in the district.
AndrewsR. J.DesJardinsS.RanchhodV. (2010). The effects of the Kalamazoo Promise on college choice. Economics of Education Review, 29, 722-737.
2.
BarrowL.RouseC. E. (2004). Using market valuation to assess public school spending. Journal of Public Economics, 88, 1747-1769.
3.
BartikT. J.EbertsR. W.HuangW. J. (2010, June). The Kalamazoo Promise, and enrollment and achievement trends in Kalamazoo schools. Paper presented at the PromiseNet 2010 Conference, Kalamazoo, MI.
4.
BaumS.MaJ. (2007). Trends in college pricing (Trends in Higher Education). New York, NY: College Board.
5.
BlackS. E. (1999, May). Do better schools matter? Parental valuation of elementary education. Quarterly Journal of Economics, 114, 577-599.
6.
BogartW. T.CromwellB. A. (1997). How much more is a good school district worth?National Tax Journal, 50, 215-232.
7.
BromleyC.CampenJ.NaficiS.RustA.SmithG.SteinK.van KerkhoveB. (2008, March). Paying more for the American dream: The subprime shakeout and its impact on lower-income and minority communities (A joint report by Fair Lending Coalition, Massachusetts Affordable Housing Alliance, Neighborhood Economic Development Advocacy Project, Community Reinvestment Association of North Carolina, Woodstock Institute, California Reinvestment Coalition and Empire Justice Center). Retrieved from https://www.issuelab.org/resource/paying-more-for-the-american-dream-the-subprime-shakeout-and-its-impact-on-lower-income-and-minority-communities.html
8.
CameronS.TaberC. (2004). Estimation of educational borrowing constraints using returns to schooling. Journal of Political Economy, 112, 132-182. doi:10.1086/379937
9.
CardD. (1994, August). Earnings, schooling, and ability revisited (National Bureau of Economic Research Working Paper Series, No. 4832). Retrieved from http://www.nber.org/papers/w4832
CarneiroP.HeckmanJ. (2002). The evidence on credit constraints in post-secondary schooling. Economic Journal, 112, 705-734. Retrieved from http://www.jstor.org/stable/798529
12.
Chaudry-ShahA. (1988). Capitalization and the theory of local public finance: An interpretive essay. Journal of Economic Surveys, 2, 209-243.
13.
ConleyD. (2001, January). Capital for college: Parental assets and postsecondary schooling. Sociology of Education, 74(1), 59-72.
EllwoodD.KaneT. (2000). Who is getting a college education? Family background and the growing gaps in enrollment. In DanzigerS.WaldfogelJ. (Eds.), Securing the future (pp. 283-324). New York, NY: Russell Sage Foundation.
18.
FiglioD. N.LucasM. E. (2004). What’s in a grade? School report cards and the housing market. American Economic Review, 94, 591-604.
HastingsJ. S.WeinsteinJ. M. (2008). Information, school choice, and academic achievement: Evidence from two experiments. Quarterly Journal of Economics, 123, 1373-1414.
21.
HershbeinB. J. (2013, June). A second look at enrollment changes after the Kalamazoo Promise (Upjohn Institute Working Paper 13-200). Retrieved from http://research.upjohn.org/up_workingpapers/200/
22.
HilberC. (2011, October). The economic implications of house price capitalization: A survey of an emerging literature (SERC Discussion Paper No. 91). London, England: Spatial Economics Research Centre.
OatesW. E. (1969). The effects of property taxes and local public spending on property values: An empirical study of tax capitalization and the Tiebout hypothesis. Journal of Political Economy, 77, 957-971.
TieboutC. M. (1956, October). A pure theory of local expenditures. Journal of Political Economy, 64, 416-424.
30.
WylyE.MoosM.HammelD.KabahiziE. (2009). Cartographies of race and class: Mapping the class-monopoly rents of American subprime mortgage capital. International Journal of Urban and Regional Research, 33, 332-354.
