The paper studies the impact of non-personnel funding on school outcomes in South Africa. The results show a small but positive effect of resources on student throughput during the last years of high school, and on the number of students writing the matriculation exam. However, additional resources do not translate into a higher number of successful exams, leading to an overall negative effect on pass rates. It is suggested that these findings may have to do with schools reacting to the per-pupil nature of funding.
