B7 - Childonomics: Measuring the Immeasurable – The Social Return on Investment in Children
Childonomics is a methodology that helps decision-makers at various levels consider the long-term social and economic return of investing in children and families. The model assesses the value of different types of social service by considering costs of various services and approaches to support children and families and outcomes achieved for them, as well as for the community and society as a whole. Childonomics and the methodology adopts a rights-based foundation and outcomes focus for understanding investment in children and families to ensure the well-being of children and families within communities in order to prevent and reduce any form of developmental delay, harm, and, especially, the unnecessary separation of children from their parents or family. Two pilot countries, Malta and Romania, demonstrate the possible adaptation in different circumstances, provide information on how the methodology can be implemented, and identify the challenges and needs for further development. The model was developed as a research project coordinated by Eurochild; the economic model was developed by the Oxford Management Group and funded by the OAK Foundation.
Presenters: Maria Herczog, Family, Child, Youth Association, Budapest, Hungary