Does Investing in School Capital Infrastructure Improve Student Achievement?

This study contributes to the literature on capital expenditures and student achievement. It examines the causal impact of capital expenditures on school district proficiency rates in Michigan. The analysis uses a regression discontinuity design, where the outcomes of bond elections are the forcing variable. The results provide some evidence that capital expenditures can have positive effects on student proficiency levels, with an increase of 2 to 6 percent (equivalent to 0.1 to 0.3 standard deviations) five to seven years after passage of a bond referendum.