We propose the rise of crack cocaine markets as a key explanation for the end to the convergence in black-white educational outcomes in the United States that began in the mid-1980s. After constructing a measure to date the arrival of crack markets in cities and states, we show that the decline in educational outcomes for black males begins with the start of the crack epidemic. We also show that there are higher murder and incarceration rates after the arrival of crack cocaine and that these are predictive of lower black high school completion rates, a result consistent with human capital theory. We estimate that effects related to crack markets can account for approximately 40% to 70% of the fall in black male high school completion rates.

中文翻译：

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可卡因市场的空白，黑色的教育差距，进展停滞以及长期后果

我们建议可卡因市场的兴起，可以作为从1980年代中期开始结束美国黑白教育成果趋同的关键解释。在制定了迄今为止在城市和州市场上出现裂纹市场的措施之后，我们表明，黑人男性教育成果的下降始于裂纹流行的开始。我们还表明，可卡因到达后谋杀和监禁的比率更高，这些都预示着黑人高中毕业率会降低，这与人力资本理论相符。我们估计，与裂纹市场相关的影响可能占黑人男性高中毕业率下降的大约40％至70％。