Bhamani, Shelina

English

Bhemani, Shellina

Institute of Business Management, Karachi, Pakistan: Journal Management System

PAKISTAN BUSINESS REVIEW JULY 2015
Discussion
462
Financing Early Childhood Education   . . .D scussion
The aim of this discussion section is to highlight the
importance of early childhood education and investing in early years
education. The discussion mainly highlights the significance of
investing in young children and a few examples of previous studies
done for the same.
Education plays a magnificent role in the economic and social
development of a country. It is considered a (Hanushek & Wößmann,
2007) single critical factor in achieving rapid economic growth and
technological development. It is also vital for creating a social order
based on the values, social justice and equal opportunities(Liñán,
Rodríguez-Cohard, & Rueda-Cantuche, 2011). In addition, education
is considered to be the backbone of country, its is regarded as one of
the most influencing variable and growth indicator in the economic
and social development researches(Roemer, 2014).
Countries across the world have been striving to increase
the budget for educational development of their respective
nations(Potrafke, 2011).  It will be very difficult to cope with the
challenging situations and meeting the needs of the day to day changes
in life(Snyder & Dillow, 2012). Therefore, to spend a peaceful,
prosperous, happy and comfortable life one must receive education. It
is a recognized fact that in this age of meritocracy only those can
survive and face the challenges, who are qualified and have adequate
knowledge, skills and capabilities and life will really be difficult and
unbearable otherwise. Professionals have a critical view of how young
children learn, grow and develop to compete with the current world
1-Department of Policy and Systems, Pakistan Reading Project, USAID
Funded Project
Shelina Bhamani1
FINANCING EARLY CHILDHOOD
EDUCATION: AN INVESTMENT INTO THE
FUTURE
PAKISTAN BUSINESS REVIEW JULY 2015
Discussion
463
Financing Early Childhood Education   . . .
trends. Hence, the role of caregivers and educators becomes very
crucial to provide support to the children so that they can grow and
nurture as per their pace and need.
Acknowledging this crucial issue and the pressure from the
global community, the developing countries have signed pacts for
investing in education and reconsidering the portion of the budget
allocated for educational development in their countries(Bernstein,
2013).  However, generally, there seem to a gap in investment(Berridge,
2012) in early year’s education and this was found pretty much common
in developing and underdeveloped countries. The general perception
that leads to such a decision is their inability to recognize the
importance of starting early and a mindset that young children don’t
need to know manythings when they are young. Several researches
indicate early childhood development is one of the most crucial periods
of human development. During this period, children undergo most of
the development that aids them in their later life. Various researches
conducted across the globe have proven the social and economic
long term benefits of investing in the early years of life.  Ample
initiatives have been undertaken to address potential openings of
investments during this period of life. It is acknowledged by various
researches from different fields that most development of the brain
and cognition takes place in the early years of life and it is crucial to
provide constructive learning opportunities in the early years of life
for a better start and a flourishing future.
Pakistan too has been part of many international and global
initiatives to support the cause ofeducation for all (Shami & Hussain,
2006)and to put in more investments in education and social
development. As a result of economic, political, social and religious
issues Pakistan  requires to restructure its economy and allocat
expenses to address its human development indicators. Whereby, to
invest a good section of its economy an educational development
projects which is inclusive of access, provision and quality. Currently,
PAKISTAN BUSINESS REVIEW JULY 2015
Discussion
464
Financing Early Childhood Education   . . .
Pakistan gives 2.7% share of the economy(Aly, 2007) to education
which is even has taken the globally set standards minimum at 4%. In
Pakistan, lack of resources and support from the government for
education has been highlighted as one of the major causes of
educational downfall in the country. Until the rise of 20th century
Pakistan hardly assigned any budget for pre-primary(Siraj Blatchford,
Taggart, Sylva, Sammons, & Melhuish, 2008) education, the evidences
of which can be seen today as well that early year’s education is not
given much importance as it should be in the overall education budget.
                The question ‘why Pakistan should invest in early
years’keeps being raised from various stakeholders involved in the
process of deliberations(Bhamani, 2012). One of the major reasons is
economic development. Investments in early years education have
proven to be producing better economic outcomes for various
countries. Several reports have highlighted how beneficial this
investment could be in terms of financial gain. Heckman (2012) has
carried out several analyses to revalidate this point. One of his analyses
of the Perry Preschool project showed approximately 10% of return
per year; another analysis of Chicago Child Parent Study estimated $7
return on every dollar that is spent(Irvine & Farrell, 2013) on educating
young children(Heckman, 2011). Investments made in education have
proven to be economically healthy for most of the developing and
under developed nations. Therefore, it is imperative for Pakistan to
reconsider the budgetary allocations for early years and ensure access
to educate all the children from birth to age eight. This can be done by
initiating various types of early childhood programmes that meet the
needs of young children and their families(Brooks-Gunn, et al., 2013).
In addition to this, several researches have acclaimed that
investments made to support young children, help nations to eradicate
poverty and other financial problems of the communities as well. This
happens as the young child, after getting basic education right from
the start will have a relatively better job(Duncan & Magnuson, 2013)
options and entrepreneurship skills compared to the ones with no
exposure to education. The other benefit of investing in young children
PAKISTAN BUSINESS REVIEW JULY 2015
Discussion
465
Financing Early Childhood Education   . . .
and their education is long term social development of the nation.
Right care, education and nurturing in the early years of life help
societies overcome social problems like terrorism, violence, drug
abuse and gender issues.  Pakistan in the current situation is going
through several social and religious issues of racial discrimination
and societal chaos. The country needs citizens who value diversity,
respect basic human rights and do not get involved in conflicts.
Another benefit of investing in early childhood education
is political and democratic stability of the nation. Children with
appropriate education grow up being responsible citizens who value
civic obligations and responsibilities. These children grow up  with
strong rationale opinions about the choice of freedom and a sense of
responsibility to participate in community development. Pakistan,
by investing in early years, will ultimately be investing in its future
democratic leaders who would later take the responsibility of the
nation’s development.
Mobilizing early childhood programmes and interventions
also has a direct impact on the children’s overall development and
their families. Younger children get to learn basic life skills, social
skills and develop schemas for new knowledge which are pretty
much helpful to prepare them for formal schooling. Also, it helps in
their physical development with better health and nuitrition outcomes
(Campbell, et al., 2014). Moreover, adding elements of early childhood
education in other early childhood and community programmes
strengthen the potential of such interventions by allowing a
participatory approach to community mobilization. Investing for in
early childhood programmes sanctions a nation to enhance their
human development index rating and get global  apperception.
In summary, holistically, the opinions that accentuate the
paramountcy of early childhood education give a cogent case to
making substantial investment in this area. Pakistan must set aside a
PAKISTAN BUSINESS REVIEW JULY 2015
Discussion
466
Financing Early Childhood Education   . . .
good budgetary allocation for this crucial area since education is a
fundamental right of citizens.
References
Aly, J. H. (2007). Education in Pakistan. A white paper revised.
Document to debate and finalize the National Education
Policy.
Bernstein, J. (2013). Declines in Spending on Early Education and
Care in Massachusetts. Massachusetts Budget and Policy
Center.
Berridge, D. (2012). Educating young people in care: What have we
learned? Children and Youth Services Review, 34(6), 1171-
1175.
Bhamani, S. (2012). Parwarish Markaz: Integrated Services for the
Optimal Development of Children Ages 0-3. . heme: Early
Experiences Matter,12 ARNEC.
Brooks-Gunn, J., Burchinal, M. R., Espinosa, L. M., Gormley, W. T.,
Ludwig, J., Magnuson, K. A., & Zaslow, M. J. (2013). Investing
in our future: The evidence base on preschool education.
Society for Research in Child Development and Foundation
for Child Development.
Campbell, F., Conti, G., Heckman, J. J., Moon, S. H., Pinto, R., Pungello,
E., & Pan, Y. (2014). Early childhood investments substantially
boost adult health. Science, 343(6178), 1478-1485.
Duncan, G. J., & Magnuson, K. (2013). Investing in preschool programs.
The Journal of Economic Perspectives, 27(2), 109-132.
Hanushek, E. A., & Wößmann, L. (2007). The role of education quality
for economic growth. World Bank.
PAKISTAN BUSINESS REVIEW JULY 2015
Discussion
467
Financing Early Childhood Education   . . .
Heckman, J. J. (2011). Economics of Inequality: The Value of Early
Childhood Education. American Educator, 35(1), 31.
Irvine, S., & Farrell, A. (2013). The rise of government in early
childhood education and care following the Child Care Act
1972: The lasting legacy of the 1990s in setting the reform
agenda for ECEC in Australia. Australasian Journal of Early
Childhood, 38(4), 99.
Liñán, F., Rodríguez-Cohard, J. C., & Rueda-Cantuche, J. M. (2011).
Factors affecting entrepreneurial intention levels: a role for
education. International Entrepreneurship and
Management Journal, 7(2), 195-218.
Potrafke, N. (2011). Public expenditures on education and cultural
affairs in the West German states: does government ideology
influence the budget composition?. German Economic
Review, 12(1), 124-145.
Roemer, J. E. (2014). Economic development as opportunity
equalization. The World Bank Economic Review, 28(2), 189-
209.
Shami, P. A., & Hussain, K. S. (2006). evelopment of education in
Pakistan.  Academy of Educational Planning and
Management, Ministry of Education.
Siraj Blatchford, I., Taggart, B., Sylva, K., Sammons, P., & Melhuish,
E. (2008). owards the transformation of practice in early
childhood education: the effective provision of pre school
education (EPPE) project. Cambridge Journal of Education,
38(1), 23-36.
Snyder, T. D., & Dillow, S. A. (2012). Digest of education statistics
2011. National Center for Education Statistics.


FINANCING EARLY CHILDHOOD EDUCATION: AN INVESTMENT INTO THE FUTURE

eCommons@AKU

eCommons@AKUDepartment of Obstetrics & Gynaecology Division of Woman and Child HealthJanuary 2015Financing early childhood education: Aninvestment into the futureShelina BhamaniAga Khan University, shelina.bhamani@aku.eduFollow this and additional works at: https://ecommons.aku.edu/pakistan_fhs_mc_women_childhealth_obstet_gynaecolPart of the Obstetrics and Gynecology CommonsRecommended CitationBhamani, S. (2015). Financing early childhood education: An investment into the future. Pakistan Business Review, 16(2), 462-467.Available at: https://ecommons.aku.edu/pakistan_fhs_mc_women_childhealth_obstet_gynaecol/184PAKISTAN BUSINESS REVIEW JULY 2015Discussion462Financing Early Childhood Education   . . .D scussionThe aim of this discussion section is to highlight theimportance of early childhood education and investing in early yearseducation. The discussion mainly highlights the significance ofinvesting in young children and a few examples of previous studiesdone for the same.Education plays a magnificent role in the economic and socialdevelopment of a country. It is considered a (Hanushek & Wößmann,2007) single critical factor in achieving rapid economic growth andtechnological development. It is also vital for creating a social orderbased on the values, social justice and equal opportunities(Liñán,Rodríguez-Cohard, & Rueda-Cantuche, 2011). In addition, educationis considered to be the backbone of country, its is regarded as one ofthe most influencing variable and growth indicator in the economicand social development researches(Roemer, 2014).Countries across the world have been striving to increasethe budget for educational development of their respectivenations(Potrafke, 2011).  It will be very difficult to cope with thechallenging situations and meeting the needs of the day to day changesin life(Snyder & Dillow, 2012). Therefore, to spend a peaceful,prosperous, happy and comfortable life one must receive education. Itis a recognized fact that in this age of meritocracy only those cansurvive and face the challenges, who are qualified and have adequateknowledge, skills and capabilities and life will really be difficult andunbearable otherwise. Professionals have a critical view of how youngchildren learn, grow and develop to compete with the current world1-Department of Policy and Systems, Pakistan Reading Project, USAIDFunded ProjectShelina Bhamani1FINANCING EARLY CHILDHOODEDUCATION: AN INVESTMENT INTO THEFUTUREPAKISTAN BUSINESS REVIEW JULY 2015Discussion463Financing Early Childhood Education   . . .trends. Hence, the role of caregivers and educators becomes verycrucial to provide support to the children so that they can grow andnurture as per their pace and need.Acknowledging this crucial issue and the pressure from theglobal community, the developing countries have signed pacts forinvesting in education and reconsidering the portion of the budgetallocated for educational development in their countries(Bernstein,2013).  However, generally, there seem to a gap in investment(Berridge,2012) in early year’s education and this was found pretty much commonin developing and underdeveloped countries. The general perceptionthat leads to such a decision is their inability to recognize theimportance of starting early and a mindset that young children don’tneed to know manythings when they are young. Several researchesindicate early childhood development is one of the most crucial periodsof human development. During this period, children undergo most ofthe development that aids them in their later life. Various researchesconducted across the globe have proven the social and economiclong term benefits of investing in the early years of life.  Ampleinitiatives have been undertaken to address potential openings ofinvestments during this period of life. It is acknowledged by variousresearches from different fields that most development of the brainand cognition takes place in the early years of life and it is crucial toprovide constructive learning opportunities in the early years of lifefor a better start and a flourishing future.Pakistan too has been part of many international and globalinitiatives to support the cause ofeducation for all (Shami & Hussain,2006)and to put in more investments in education and socialdevelopment. As a result of economic, political, social and religiousissues Pakistan  requires to restructure its economy and allocatexpenses to address its human development indicators. Whereby, toinvest a good section of its economy an educational developmentprojects which is inclusive of access, provision and quality. Currently,PAKISTAN BUSINESS REVIEW JULY 2015Discussion464Financing Early Childhood Education   . . .Pakistan gives 2.7% share of the economy(Aly, 2007) to educationwhich is even has taken the globally set standards minimum at 4%. InPakistan, lack of resources and support from the government foreducation has been highlighted as one of the major causes ofeducational downfall in the country. Until the rise of 20th centuryPakistan hardly assigned any budget for pre-primary(Siraj Blatchford,Taggart, Sylva, Sammons, & Melhuish, 2008) education, the evidencesof which can be seen today as well that early year’s education is notgiven much importance as it should be in the overall education budget.                The question ‘why Pakistan should invest in earlyyears’keeps being raised from various stakeholders involved in theprocess of deliberations(Bhamani, 2012). One of the major reasons iseconomic development. Investments in early years education haveproven to be producing better economic outcomes for variouscountries. Several reports have highlighted how beneficial thisinvestment could be in terms of financial gain. Heckman (2012) hascarried out several analyses to revalidate this point. One of his analysesof the Perry Preschool project showed approximately 10% of returnper year; another analysis of Chicago Child Parent Study estimated $7return on every dollar that is spent(Irvine & Farrell, 2013) on educatingyoung children(Heckman, 2011). Investments made in education haveproven to be economically healthy for most of the developing andunder developed nations. Therefore, it is imperative for Pakistan toreconsider the budgetary allocations for early years and ensure accessto educate all the children from birth to age eight. This can be done byinitiating various types of early childhood programmes that meet theneeds of young children and their families(Brooks-Gunn, et al., 2013).In addition to this, several researches have acclaimed thatinvestments made to support young children, help nations to eradicatepoverty and other financial problems of the communities as well. Thishappens as the young child, after getting basic education right fromthe start will have a relatively better job(Duncan & Magnuson, 2013)options and entrepreneurship skills compared to the ones with noexposure to education. The other benefit of investing in young childrenPAKISTAN BUSINESS REVIEW JULY 2015Discussion465Financing Early Childhood Education   . . .and their education is long term social development of the nation.Right care, education and nurturing in the early years of life helpsocieties overcome social problems like terrorism, violence, drugabuse and gender issues.  Pakistan in the current situation is goingthrough several social and religious issues of racial discriminationand societal chaos. The country needs citizens who value diversity,respect basic human rights and do not get involved in conflicts.Another benefit of investing in early childhood educationis political and democratic stability of the nation. Children withappropriate education grow up being responsible citizens who valuecivic obligations and responsibilities. These children grow up  withstrong rationale opinions about the choice of freedom and a sense ofresponsibility to participate in community development. Pakistan,by investing in early years, will ultimately be investing in its futuredemocratic leaders who would later take the responsibility of thenation’s development.Mobilizing early childhood programmes and interventionsalso has a direct impact on the children’s overall development andtheir families. Younger children get to learn basic life skills, socialskills and develop schemas for new knowledge which are prettymuch helpful to prepare them for formal schooling. Also, it helps intheir physical development with better health and nuitrition outcomes(Campbell, et al., 2014). Moreover, adding elements of early childhoodeducation in other early childhood and community programmesstrengthen the potential of such interventions by allowing aparticipatory approach to community mobilization. Investing for inearly childhood programmes sanctions a nation to enhance theirhuman development index rating and get global  apperception.In summary, holistically, the opinions that accentuate theparamountcy of early childhood education give a cogent case tomaking substantial investment in this area. Pakistan must set aside aPAKISTAN BUSINESS REVIEW JULY 2015Discussion466Financing Early Childhood Education   . . .good budgetary allocation for this crucial area since education is afundamental right of citizens.ReferencesAly, J. H. (2007). Education in Pakistan. A white paper revised.Document to debate and finalize the National EducationPolicy.Bernstein, J. (2013). Declines in Spending on Early Education andCare in Massachusetts. Massachusetts Budget and PolicyCenter.Berridge, D. (2012). Educating young people in care: What have welearned? Children and Youth Services Review, 34(6), 1171-1175.Bhamani, S. (2012). Parwarish Markaz: Integrated Services for theOptimal Development of Children Ages 0-3. . heme: EarlyExperiences Matter,12 ARNEC.Brooks-Gunn, J., Burchinal, M. R., Espinosa, L. M., Gormley, W. T.,Ludwig, J., Magnuson, K. A., & Zaslow, M. J. (2013). Investingin our future: The evidence base on preschool education.Society for Research in Child Development and Foundationfor Child Development.Campbell, F., Conti, G., Heckman, J. J., Moon, S. H., Pinto, R., Pungello,E., & Pan, Y. (2014). Early childhood investments substantiallyboost adult health. Science, 343(6178), 1478-1485.Duncan, G. J., & Magnuson, K. (2013). Investing in preschool programs.The Journal of Economic Perspectives, 27(2), 109-132.Hanushek, E. A., & Wößmann, L. (2007). The role of education qualityfor economic growth. World Bank.PAKISTAN BUSINESS REVIEW JULY 2015Discussion467Financing Early Childhood Education   . . .Heckman, J. J. (2011). Economics of Inequality: The Value of EarlyChildhood Education. American Educator, 35(1), 31.Irvine, S., & Farrell, A. (2013). The rise of government in earlychildhood education and care following the Child Care Act1972: The lasting legacy of the 1990s in setting the reformagenda for ECEC in Australia. Australasian Journal of EarlyChildhood, 38(4), 99.Liñán, F., Rodríguez-Cohard, J. C., & Rueda-Cantuche, J. M. (2011).Factors affecting entrepreneurial intention levels: a role foreducation. International Entrepreneurship andManagement Journal, 7(2), 195-218.Potrafke, N. (2011). Public expenditures on education and culturalaffairs in the West German states: does government ideologyinfluence the budget composition?. German EconomicReview, 12(1), 124-145.Roemer, J. E. (2014). Economic development as opportunityequalization. The World Bank Economic Review, 28(2), 189-209.Shami, P. A., & Hussain, K. S. (2006). evelopment of education inPakistan.  Academy of Educational Planning andManagement, Ministry of Education.Siraj Blatchford, I., Taggart, B., Sylva, K., Sammons, P., & Melhuish,E. (2008). owards the transformation of practice in earlychildhood education: the effective provision of pre schooleducation (EPPE) project. Cambridge Journal of Education,38(1), 23-36.Snyder, T. D., & Dillow, S. A. (2012). Digest of education statistics2011. National Center for Education Statistics.

Financing early childhood education: An investment into the future

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Financing early childhood education: An investment into the future

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Institute of Business Management, Karachi, Pakistan: Journal Management System

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