Social and Economic Policy
Importance of investing in children
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| © UNICEF/UGDA01139/Hyun |
Investing financial resources to help children survive and develop to their full potential is, first and foremost, a moral imperative. But investing in children is also important on practical grounds. It yields positive benefits to economies and societies. Since the foundation of an individual’s health and well-being is laid in early childhood, the most opportune time to break the cycle of poverty, or prevent it from beginning, is during that time. Programmes that invest in early childhood development could generate considerable cost savings for government. Investments in children are increasingly seen as one of best and most valuable long-term investments we can make.
The world can afford to address the most disturbing aspects of poverty through child-related interventions. Seven out of the top ten most productive investments in the updated Copenhagen Consensus initiative list directly relate to children. These investment initiatives include expanding micronutrients for children, increasing immunization coverage, lowering the price of schooling and removing education barriers for girls.
UNICEF estimates that the resources needed for scaling up such interventions are moderate. For example, a relatively small amount of additional spending on immunization could save up to one million boys and girls. By investing a few thousand dollars more per child, we could also help him or her complete basic education by the age of 13.
This combination of relatively low financial costs and high returns – in terms of human lives as well as economic productivity – makes a strong case for paying particular attention to children in economic policy and fiscal budgets in times of economic hardship, as well as in times of growth.
Sources on the importance of investing in children
| TITLE | AUTHOR / ORGANIZATION | TYPE | DATE | |
|---|---|---|---|---|
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Strategies to Avoid the Loss of Development Potential in more than 200 Million Children in the Developing World | Patrice L. Engle, et al. Lancet |
Working Paper | 2007 |
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Cost of Immunization Programmes in the Next Ten Years | World Health Organization | Policy Brief | 2005 |
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State of the World's Children 2005: Childhood Under Threat | UNICEF | Thematic Report | 2005 |
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Finance Development Invest in Children | Division of Communication UNICEF |
Working Paper | 2002 |
