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so “public spending on education is justified on the grounds of efficiency and equality of opportunity. It corrects the failure of the market to allocate enough resources to education, and it also widens access to education beyond those who can pay for it upfront.” Managed correctly, public intervention to promote education creates opportunities for gains in growth, productivity, employment, and poverty reduction. And for the devel¬opment community, investing in education is a key item on the agenda as the world continues to recover from crisis, as discussed in the Bank Group’s “New World, New World Bank Group: Post-Crisis Directions” strategy paper (World Bank 2010b).
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