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100			_aGilpin, Gregory, Karger, Ezra and Nencka, Peter _958943
245			_aThe returns to public library investment
260			_aAmerican Economic Journal: Economic Policy
300			_a16(2), May, 2024: p.78-109
520			_aThis article examines the effects of public library capital investment in the United States, where local governments spend over $12 billion annually to operate 15,427 public libraries. Using near-universe data, the study finds that library investment increases visits, children’s attendance at events, and circulation by 5–15 percent in subsequent years. These increases in library use translate into measurable educational benefits: a $200 or greater per-student capital investment in local public libraries raises reading test scores in nearby school districts by 0.01–0.04 standard deviations. The findings highlight the significant returns to cultural and educational infrastructure, underscoring the role of libraries in advancing literacy, community engagement, and public policy goals. Local governments spend over $12 billion annually funding the operation of 15,427 public libraries in the United States, yet we know little about their effects. We use data describing the near universe of public libraries to show that public library capital investment increases library visits, children's attendance at library events, and children's circulation by an average of 5–15 percent in the years following investment. Increases in library use translate into improved test scores in nearby school districts: a $200 or greater per student capital investment in local public libraries increases reading test scores by 0.01–0.04 standard deviations in subsequent years.- Reproduced https://www.aeaweb.org/articles?id=10.1257/pol.20210300
650			_aPublic Policy, Public Libraries, Library Investment, Education Outcomes, Reading Test Scores, Children’s Attendance, Circulation, Capital Expenditure, Local Government Spending, Cultural Economics, United States _958944
773			_aAmerican Economic Journal: Economic Policy
906			_aPUBLIC POLICY
942			_cAR