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Em outubro de 2014 o governo colombiano anunciou a provisão de dez mil bolsas a estudantes de baixos recursos para estudar em instituições de educação superior. Neste trabalho, estima-se o efeito de ser elegível pelo programa em escolas com e sem beneficiários do programa após da primeira onda de incentivos, sobre o resultado do exame Saber 11 dos estudantes que apresentaram a prova no ano 2015. Usando um modelo de diferenças em diferenças se encontra que os estudantes elegíveis em escolas com beneficiários aumentaram a sua pontuação global do exame e a sua pontuação em leitura em 0,03 desvio-padrão. Em escolas sem beneficiários, ser elegível representou um aumento de 0,09 desvio-padrão na pontuação global do exame e em matemáticas, enquanto que na leitura o aumento foi de 0,08 desvio-padrão. Estes resultados sugerem a existência de externalidades nos estudantes de escolas que não obtiveram beneficiários do programa na primeira entrega de incentivos.

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