Journal of Economics and Finance

, Volume 40, Issue 2, pp 319–344 | Cite as

A private universal voucher program’s effects on traditional public schools

  • Nathan L. Gray
  • John D. Merrifield
  • Kerry A. AdzimaEmail author


K-12 education reformers have often cited increases in spending with little noticeable gain in test scores, coupled with the fact that American students lag behind their foreign peers on standardized tests, as a major policy problem. School choice, specifically voucher programs, have emerged as a possible solution to the K-12 education woes. This article focuses on what is commonly referred to as the “systemic effects” of a private voucher program in the Edgewood Independent School District (EISD) in San Antonio, Texas. Using carefully chosen control districts and a robust econometric analysis, we conclude that the CEO Horizon Scholarship Program had small, positive effects on the traditional public schools of EISD. The rate of change growth, however, does slow as the voucher program nears the end of its term indicating that traditional public school participants need to believe that these programs are long term.


K-12 education School choice Voucher 



The authors would like to thank R. Peter Terrebonne for his help with the econometric analysis. His input and insight was invaluable.


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Copyright information

© Springer Science+Business Media New York 2014

Authors and Affiliations

  • Nathan L. Gray
    • 1
  • John D. Merrifield
    • 2
  • Kerry A. Adzima
    • 3
    Email author
  1. 1.Young Harris CollegeYoung HarrisUSA
  2. 2.COB - UTSA DT CampusSan AntonioUSA
  3. 3.Sam and Irene Black School of BusinessPenn State Erie, The Behrend CollegeErieUSA

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