Here is a list of studies since 2015 showing that money matters in education, especially for disadvantaged schools and students. Many of these studies have been reviewed on this site. The list was updated on 3 April 2020.
Abott, Carolyn; Kogan, Vladimir; Lavertu, Stéphane & Peskowitz, Zachary (2020). School District Operational Spending and Student Outcomes: Evidence from Tax Elections in Seven States, Journal of Public Economics, Vol. 183, March.
Baker, Bruce D. (2019). Does Money Matter in Education, Albert Shanker Institute, Washington DC.
Baker, Bruce D. (2017). How Money Matters for Schools, Learning Policy Institute, Palo Alto, CA, December.
Baker, Bruce D.; Farrie, Danielle & Sciarra, David G. (2016). Mind the Gap: 20 Years of Progress and Retrenchment in School Funding and Achievement Gaps, ETS Research Reports Series, Volume 2016 (1): 1-12.
Baron, E. Jason (2019). School Spending and Student Outcomes: Evidence from Revenue Limit Elections in Wisconsin. Working Paper, Department of Economics, Florida State University, October.
Biasi, Barbara (2019). School Finance Equalization Increases Intergenerational Mobility: Evidence from a Simulated-Instruments Approach. NBER Working Paper No. 25600, National Bureau of Economic Research, Cambridge, MA, February.
Brunner, Eric: Hyman, Joshua & Yu, Andrew (2019). School Finance Reforms, Teachers’ Unions, and the Allocation of School Resources, Review of Economics and Statistics, Online.
Candelaria, Christopher A. & Shores, Kenneth A. (2019). Court-Ordered Finance Reforms in the Adequacy Era: Heterogeneous Causal Effects and Sensitivity, Education Finance and Policy, 14(1): 31-60.
Carlson, Deven & Lavertu, Stéphane (2018). School Improvement Grants in Ohio: Effects on Student Achievement and School Administration, Education Evaluation and Policy Analysis, 40(3): 287–315.
Cooper, Alyssa (2017). School Resources and Student Outcomes: Evidence from the State of Illinois, Stevenson Center for Community and Economic Development, University of Illinois.
Darling-Hammond, Linda (2019). Investing for student success: Lessons from state school finance reforms. Learning Policy Institute, Palo Alto, CA, April.
De Haan, Monique (2017). The Effect of Additional Funds for Low‐ability Pupils: A Non‐parametric Bounds Analysis, Economic Journal, 127(599): 177-198.
Gibbons, Stephen; McNally, Sandra & Viarengo, Martina (2018). Does Additional Spending Help Urban Schools? An Evaluation Using Boundary Discontinuities, Journal of the European Economic Association, 16(5): 1618–1668.
Gigliotti, Phillip & Sorensen, Lucy C. (2018). Educational resources and student achievement: Evidence from the Save Harmless provision in New York State, Economics of Education Review, 66, October: 167-182.
Hyman, Joshua (2017). Does Money Matter in the Long Run? Effects of School Spending on Educational Attainment, American Economic Journal: Economic Policy, 9(4): 256-280.
Johnson, Rucker & Tanner, Sean (2018). Money and Freedom: The Impact of California’s School Finance Reform. Learning Policy Institute, Palo Alto, CA, February.
Johnson, Rucker C. & Kirabo Jackson, C (2018). Reducing Inequality Through Dynamic Complementarity: Evidence from Head Start and Public School Spending, NBER Working Paper No. 23489, National Bureau of Economic Research, Cambridge, MA, February.
Kirabo Jackson, C. (2018). Does School Spending Matter? The New Literature on an Old Question. NBER Working Paper No. 25368, National Bureau of Economic Research, Cambridge, MA, December.
Kirabo Jackson, C.; Wigger, Cora & Xiong, Heyu (2018). Do School Spending Cuts Matter? Evidence from the Great Recession, NBER Working Paper No. 24203, National Bureau of Economic Research, Cambridge, MA, January.
Kirabo Jackson, C; Johnson, Rucker C. & Persico, Claudia (2015). The Effects of School Spending on Educational and Economic Outcomes: Evidence from School Finance Reforms, Quarterly Journal of Economics, 131(1): 157-218.
Kogan, Vladimir; Lavertu, Stéphane & Peskowitz, Zachary (2016) School District Tax Referenda, Spending Cuts, and Student Achievement, Paper Presented to the 41st Annual Conference of the Association of Association for Education Finance and Policy, March 17-19, 2016, Denver, Colorado.
Kreisman, Daniel & Steinberg, Mathew P, (2019). The Effect of Increased Funding on Budget Allocations and Student Outcomes: Evidence from Texas’s small district adjustment. EdWorkingPaper No.19-58, Annenberg Institute at Brown University, May, (forthcoming in the Journal of Public Economics).
Lafortune, Julien; Rothstein, Jesse & Schanzenbach, Diane Whitmore (2018). School Finance Reform and the Distribution of Student Achievement, American Economic Journal: Applied Economics, 10(2): 1-26.
Lee, Kyung-Gon & Polachek, Solomon W (2017). Do school budgets matter? The effect of budget referenda on student dropout rates, Education Economics, 26(2): 129-144.
Miller, Corbin (2018), The Effect of Education Spending on Student Achievement: Evidence from Property Values and School Finance Rules, Working Paper, Department of Economics, Cornell University, New York, July.
Rothbart, Michah W. (2019). Does School Finance Reform Reduce the Race Gap in School Funding? Education Finance and Policy, Online.
Shores, Kenneth & Steinberg, Matthew P. (2019). Schooling During the Great Recession: Patterns of School Spending and Student Achievement Using Population Data, AERA Open, 5(3): 1–29.
Review of earlier studies
Cobbold Trevor (2014). Money Matters in Education, Education Research Brief, Save Our Schools, July.