Juan A., CorreaInostroza, DavidParro, FranciscoReyes, LoretoUgarte, Gabriel2014-06-062016-05-272014-06-062016-05-272014Universidad Andrés Bello (Chile). Facultad de Economía y Negocios. Documento de Trabajo N° 7. 2014.http://repositorio.unab.cl/xmlui/handle/ria/2473Indexación: UNAB JEL Classi cation: H4; I2Abstract We use data from Chile's conditional voucher program to test the e ects of vouchers on academic achievement. Conditional vouchers have delivered extra resources to low-income, vulnerable students since 2008. Moreover, under this scheme, additional resources are contingent on the completion of speci c scholastic goals. Using a di erence-in-di erences approach, we nd a positive and signi cant e ect of vouchers on standardized test scores. Additionally, our results highlight the importance of conditioning the delivery of resources to some speci c academic goals when frictions exist in the education market.envouchers, school choice, academic achievement JEL ClassiWorking Paper