Do, Quy-ToanDas, JishnuOzler, Berk2013-12-192013-12-192005-03-01World Bank Research Observerdoi:10.1093/wbro/lki005https://hdl.handle.net/10986/16405During the past decade, the use of conditional cash transfer programs to increase investment in human capital has generated considerable excitement in both research and policy forums. This article surveys the existing literature, which suggests that most conditional cash transfer programs are used for essentially one of two purposes: restoring efficiency when externalities exist or improving equity by targeting resources to poor households. The programs often meet their stated objectives, but in some instances there is tension between the efficiency and equity objectives. The overall impact of a program depends on the gains and losses associated with each objective.en-USCC BY-NC-ND 3.0 IGOADVERSE IMPACTAGRICULTUREAID AGENCIESANTI-POVERTYASYMMETRIC INFORMATIONBARGAININGBARGAINING MODELSBENEFICIARIESBENEFICIARYBOUNDED RATIONALITYBUDGET CONSTRAINTCALORIC INTAKECAPITAL INVESTMENTSCASH PAYMENTCASH PAYMENTSCASH TRANSFERCASH TRANSFER PROGRAMSCASH TRANSFERSCDCHILD LABORCHILD LABOURCHILD MORTALITYCHILD NUTRITIONCOLLECTIVE APPROACHCORRELATES OF POVERTYCOST-EFFECTIVENESSCREDIT CONSTRAINTSCREDIT RATIONINGDEVELOPMENT ECONOMICSDEVELOPMENT POLICIESECONOMIC ANALYSISECONOMIC MODELSECONOMIC RESEARCHECONOMICSECONOMICS RESEARCHEFFICIENT OUTCOMESEMPLOYMENTEMPLOYMENT STATUSEXPENDITUREEXPENDITURESEXTERNALITIESEXTERNALITYEXTREMELY POOR HOUSEHOLDSFARMERSFOOD FOR EDUCATIONFOOD INTAKEFOOD STAMPSFOOD SUBSIDIESFOOD TRANSFERSFUNGIBLEFUTURE RESEARCHHOUSEHOLD BARGAININGHOUSEHOLD HEADHOUSEHOLD HEADSHOUSEHOLD INCOMEHOUSEHOLD WEALTHHOUSEHOLD WELFAREHUMAN CAPITALHUMAN CAPITAL INVESTMENTHUMAN RESOURCESIMPACT ON POVERTYIMPERFECT INFORMATIONINCOME EFFECTINCOME LEVELINCOME SUPPORTINCOME TRANSFERSINDIFFERENCE CURVESINEFFICIENCYINEQUALITYINSURANCEINSURANCE MARKETSINTEREST RATESINTERNATIONAL BANKINTERNATIONAL LABOR STANDARDSINVESTMENT CHOICESINVESTMENT DECISIONSINVESTMENT PATTERNSLABOR FORCELABOR MARKETLABOR STANDARDSLABOUR STANDARDSLAND OWNERSHIPLANDHOLDINGSMALNUTRITIONMARKET FAILUREMARKET FAILURESMARKET RETURNSMEANS TESTINGMEANS TESTSMORAL HAZARDMOTIVATIONNORMAL GOODOPPORTUNITY COSTPOLITICAL ECONOMYPOORPOOR COUNTRIESPOOR HOUSEHOLDSPOOR PEOPLEPOSITIVE EFFECTSPOSITIVE EXTERNALITIESPOVERTY LEVELSPOVERTY REDUCTIONPRINCIPAL-AGENT PROBLEMSPUBLIC ASSISTANCEPUBLIC SPENDINGRATE OF RETURNRATES OF RETURNRETURNSRURALRURAL FAMILIESRURAL HOUSEHOLDSSCHOOL FEEDINGSOCIAL NETWORKSTARGETED TRANSFERSTARGETINGUNEMPLOYEDVOTERSWEALTH EFFECTJournal ArticleWorld Bank10.1596/16405