For code-design purposes, a bar can be considered as developed in a length described by the Ldh equation in ACI 318 (12.5), which defines the distance from the outside of the hook to the spot on the tension end of the bar where it is fully developed.
The old thought was that half of development occurs in the hook, and half in the associated straight part of the Ldh. This may or may not be true, but was part of the reasoning behind the lengths. The problem with considering a hook to be fully developed at the hook (or on the tail end of a hook) is that relying upon this means that the forces in the concrete inside the bend are much higher - too high for some bar-concrete combinations.
CRSI is currently funding research on hook development, to answer a few fundamental questions, like what bend diameter is needed for various combinations of bar yield strength and concrete compressive strength.