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Full-Text Articles in Social Work
Effects Of An Individual Development Account Program On Retirement Saving: Follow-Up Evidence From A Randomized Experiment, Michal Grinstein-Weiss, Michael Sherraden, William Gale, William M. Rohe, Mark Schreiner, Clinton Key
Effects Of An Individual Development Account Program On Retirement Saving: Follow-Up Evidence From A Randomized Experiment, Michal Grinstein-Weiss, Michael Sherraden, William Gale, William M. Rohe, Mark Schreiner, Clinton Key
Center for Social Development Research
Using data from a randomized experiment that ran from 1998 to 2003 in Tulsa, Oklahoma, we examine the 10-year follow-up effects on retirement saving of an Individual Development Account (IDA) program. The IDA program included financial education, encouragement to save, and matching funds for several qualified uses of the savings, including contributions to retirement accounts. The results indicate that, as of 2009, 6 years after the program ended, the IDA program had no impact on the propensity to hold a retirement account, the account balance, or the sufficiency of retirement balances to meet retirement expenses.
Long-Term Follow-Up Of Individual Development Accounts: Evidence From The Add Experiment, Michal Grinstein-Weiss, Michael Sherraden, William M. Rohe, William Gale, Mark Schreiner, Clinton Key
Long-Term Follow-Up Of Individual Development Accounts: Evidence From The Add Experiment, Michal Grinstein-Weiss, Michael Sherraden, William M. Rohe, William Gale, Mark Schreiner, Clinton Key
Center for Social Development Research
Long-Term Follow-Up of Individual Development Accounts: Evidence From the ADD Experiment
Ten-Year Impacts Of Individual Development Accounts On Homeownership: Evidence From A Randomized Experiment, Michal Grinstein-Weiss, Michael Sherraden, William Gale, William M. Rohe, Mark Schreiner, Clinton Key
Ten-Year Impacts Of Individual Development Accounts On Homeownership: Evidence From A Randomized Experiment, Michal Grinstein-Weiss, Michael Sherraden, William Gale, William M. Rohe, Mark Schreiner, Clinton Key
Center for Social Development Research
This paper presents evidence from a randomized field experiment to evaluate the long-term impact of an incentive for household saving. We examine the effect on homeownership of an Individual Development Account (IDA) program which ran from 1998 to 2003 in Tulsa, Oklahoma. The IDA program provided low-income households with financial education and matching funds for qualified savings withdrawals, including a 2:1 match for housing down payments. About 90% of treatment group members opened IDA accounts, and contributions averaged about $1,800. Homeownership rates for both treatment and control groups increased substantially throughout the experiment. Prior work shows that from 1998 to …
Second Thoughts: Who Almost Participates In An Ida?, David Rothwell, Chang-Keun Han
Second Thoughts: Who Almost Participates In An Ida?, David Rothwell, Chang-Keun Han
Center for Social Development Research
Self-selection into social intervention programs may bias the estimates of treatment impact. Data from an Individual Development Account (IDA) program (N = 758) are used to examine the self-selection process. Persons who applied but did not enroll are assumed to have had “second thoughts” about program participation. Multivariate logistic regression predicted second thoughts and showed that having children in the household and negative net worth, along with not owning a vehicle, were positively related to having second thoughts. Those saving for an education were more likely than those saving for a home or business to have second thoughts. Implications for …
Does Banking Experience Matter: Differences Of The Banked And Unbanked In Individual Development Accounts, Michal Grinstein-Weiss, Yeong H. Yeo, Mathieu R. Despard, Min Zhan
Does Banking Experience Matter: Differences Of The Banked And Unbanked In Individual Development Accounts, Michal Grinstein-Weiss, Yeong H. Yeo, Mathieu R. Despard, Min Zhan
Center for Social Development Research
Using data from the 4-year American Dream Demonstration, this study compared saving performance and program participation of banked participants (n = 1,538) with unbanked participants (n = 466) enrolled in 14 IDA programs across the United States. The study found that unbanked participants had $3.26 lower average monthly net deposit (p<.05) and 5% lower deposit frequency (p<.001) than banked participants. Unbanked participants had 45% greater odds of dropout than banked participants (p<.001). Further analyses looking at the intervening variables suggested that the combined effects of car ownership, education, race, and monthly savings targets significantly reduced the savings gap between the two groups.
Exploring Saving Performance In An Ida For People With Disabilities: Some Preliminary Findings, Margaret Lombe, Jin Huang, Michelle Putnam, Kate Cooney
Exploring Saving Performance In An Ida For People With Disabilities: Some Preliminary Findings, Margaret Lombe, Jin Huang, Michelle Putnam, Kate Cooney
Center for Social Development Research
Asset development policies have been promoted as a means to create a more inclusive “ownership society.” During the past few years, asset building scholarship has begun to focus specifically on marginalized groups including persons with disabilities. Using a sample of Individual Development Account (IDA) program participants (N=376), we examine effects of disability status on IDA saving performance; we also assess variations in saving performance by individual and programmatic characteristics. Our results suggest that disability status, in addition to a number of individual and program characteristics, is associated with saving performance in an IDA. Implications for practice and scholarship are presented.
Attitudes Toward Institutional Features And Savings In Individual Development Accounts: Latent Class Analysis, Chang-Keun Han, Michael Sherraden
Attitudes Toward Institutional Features And Savings In Individual Development Accounts: Latent Class Analysis, Chang-Keun Han, Michael Sherraden
Center for Social Development Research
This exploratory study focuses on classifying attitudes toward institutional features of Individual Development Accounts (IDAs). This study also examines to what extent the attitudes change and how they are associated with savings in IDAs. While attitudes toward IDAs are generally positive, latent class analysis (LCA) found 3 groups, “highly positive," “moderately positive,” and “mixed opinion.” Race is significantly associated with the classification. This study found dynamic changes in attitudes at 18 months and 48 months after the baseline interview. While attitudes became somewhat more positive for 18% of participants, they became more negative for 26%. It was also found that …
Do Institutions Really Matter For Saving Among Low-Income Households? A Comparative Approach, Chang-Keun Han, Michael Sherraden
Do Institutions Really Matter For Saving Among Low-Income Households? A Comparative Approach, Chang-Keun Han, Michael Sherraden
Center for Social Development Research
This study aims to examine the extent to which competing theories explain saving of low-income households in Individual Development Accounts (IDAs). Competing theories include individual-oriented perspective, social stratification perspective, and institutional saving theory. This study uses American Dream Demonstration (ADD) data collected at the Tulsa IDA program. Compared with the individual perspective and the social stratification perspective, institutional features explain a significant part of the variance in saving outcomes measured by average monthly net deposit (AMND) and deposit frequency ratio (DFR). Findings suggest that an inclusive asset-based policy should be designed with institutional structures encouraging low-income households to save.
Fostering Low-Income Homeownership: A Longitudinal Randomized Experiment On Individual Development Accounts, Michal Grinstein-Weiss, Jung-Sook Lee, Kate Irish, Chang-Keun Han
Fostering Low-Income Homeownership: A Longitudinal Randomized Experiment On Individual Development Accounts, Michal Grinstein-Weiss, Jung-Sook Lee, Kate Irish, Chang-Keun Han
Center for Social Development Research
For low-income families, homeownership represents an important strategy to move out of poverty and offers long-term social and economic development opportunities. Individual Development Account (IDA) programs facilitate savings towards assets such as home purchase through matched savings, financial education and case management. Using longitudinal experiment data from the American Dream Demonstration, this study examines the influence of IDA participation on homeownership rates among low-income participants after 18 months (Wave 2) of program participation and after 48 months (Wave 3) at program completion. Involvement in specific home-search activities at Waves 2 and 3 was measured to determine whether these activities mediated …
Assets Beyond Saving In Individual Development Accounts, Chang-Keun Han, Michal Grinstein-Weiss, Michael Sherraden
Assets Beyond Saving In Individual Development Accounts, Chang-Keun Han, Michal Grinstein-Weiss, Michael Sherraden
Center for Social Development Research
This study examines whether participation in Individual Development Accounts (IDAs) leads to a significant growth in assets beyond saving in the IDA accounts. Using a longitudinal experimental research design for low-income IDA participants, we test for impacts on five measures of assets: liquid assets, other financial assets, total financial assets, real assets, and total assets. Results show that, while there are no large differences in liquid and financial assets between the treatment group and the control group, IDA participants in the take-up group have more real assets and total assets than members of the control group. Results suggest that additional …
Using Individual Development Accounts For Microenterprise Development, Fred M. Ssewamala, Margaret Lombe, Jami C. Curley
Using Individual Development Accounts For Microenterprise Development, Fred M. Ssewamala, Margaret Lombe, Jami C. Curley
Center for Social Development Research
This study examines whether there is a role for microenterprise development as an anti-poverty strategy in the United States. This question is important because skeptical views exist regarding whether, generally, poor Americans would have the enthusiasm to undertake the risk of dealing with small-businesses, especially given that the United States has a public welfare system to take care of the poor and “abundant jobs” for those with the skills—compared to most developing countries where the only alternative open for a family investing in a small-business may be starvation. Using data from 14 community-based programs promoting small-business investment through Individual Development …
Using Individual Development Accounts To Save For A Home: Are There Differences By Race?, Michal Grinstein-Weiss, Kristen Wagner
Using Individual Development Accounts To Save For A Home: Are There Differences By Race?, Michal Grinstein-Weiss, Kristen Wagner
Center for Social Development Research
Research indicates that homeownership is a key variable in wealth accumulation. Using data from the American Dream Demonstration, this study examines the performance of low-incomeblacks and whites saving for homeownership through Individual Development Accounts (IDAs), a matched saving program. Results show black IDA participants saved smaller amounts and less frequently. Furthermore, findings suggest institutional variables have different associations with savings for blacks and whites. Implications for policymakers and program administrators are discussed regarding differential targeting of race groups in the design and implementation of programs aimed toward increasing savings and assets accumulation for low-income and minority households.
Educational Status And Savings Performance In Individual Development Accounts, Min Zhan, Michal Grinstein-Weiss
Educational Status And Savings Performance In Individual Development Accounts, Min Zhan, Michal Grinstein-Weiss
Center for Social Development Research
This study examines the relationship between education and savings performance in Individual Development Accounts (IDAs), a matched savings program for the poor. We also investigate whether the relationship between education and savings is mediated by income, intended uses of IDAs, and program (or institutional) factors. The data of this study is from the American Dream Demonstration (N = 2,50), the first national demonstration of IDAs. The results indicate that, compared to the participants without a high school degree, those with some college education, especially those with a 4-year college degree, had higher savings, after controlling for program factors and other …
Impact Of Asset Ownership On Social Inclusion, Margaret Lombe, Michael Sherraden
Impact Of Asset Ownership On Social Inclusion, Margaret Lombe, Michael Sherraden
Center for Social Development Research
Persistent poverty and social exclusion suggest the need for more innovative interventions to reduce severe need and create terms for meaningful participation of vulnerable individuals in economic, political, and social exchange. One such innovation is asset ownership. This study explores the relationship between asset ownership and social inclusion using the human capabilities approach. Findings indicate a significant relationship, suggesting a role for asset-based policy and programs in interventions to foster social inclusion.
Saving In Add: Measures From Mis Ida, Mark Schreiner, Michael Sherraden
Saving In Add: Measures From Mis Ida, Mark Schreiner, Michael Sherraden
Center for Social Development Research
Saving in Add: Measures From MIS IDA
Add: Lessons From The Uk, Dominic Maxwell, Will Paxton
Add: Lessons From The Uk, Dominic Maxwell, Will Paxton
Center for Social Development Research
ADD: Lessons From the Uk
Saving And Asset Accumulation Among Low-Income Families With Children In Idas, Michal Grinstein-Weiss, Kristen Wagner, Fred M. Ssewamala
Saving And Asset Accumulation Among Low-Income Families With Children In Idas, Michal Grinstein-Weiss, Kristen Wagner, Fred M. Ssewamala
Center for Social Development Research
Research indicates that low-income families with children have many motives to save, however, the costs of raising children, low wage employment, means tested programs, and the need for child care make it difficult for them to save. Using data from the American Dream Demonstration (n=1,801), this study examines saving performances of low-income families with children in a matched savings program – Individual Development Accounts (IDAs). The results indicate that households with children in IDAs can save when they are provided structured opportunities. In addition, this study finds that institutional factors, not merely individual characteristics, are highly associated with IDA saving …
Saving In Low-Income Households: Evidence From Interviews With Participants In The American Dream Demonstration, Michael Sherraden, Amanda Moore Mcbride, Elizabeth Johnson, Stacie Hanson, Fred M. Ssewamala, Trina R. Shanks
Saving In Low-Income Households: Evidence From Interviews With Participants In The American Dream Demonstration, Michael Sherraden, Amanda Moore Mcbride, Elizabeth Johnson, Stacie Hanson, Fred M. Ssewamala, Trina R. Shanks
Center for Social Development Research
Saving in Low-Income Households: Evidence From Interviews With Participants in the American Dream Demonstration
Cost-Effectiveness In Individual Development Accounts, Mark Schreiner, Guat Tin Ng, Michael Sherraden
Cost-Effectiveness In Individual Development Accounts, Mark Schreiner, Guat Tin Ng, Michael Sherraden
Center for Social Development Research
Because resources are limited, the benefits and costs of social-work interventions—like all interventions—must be compared with the benefits and costs of alternatives. Evidence-basedpractice should ask not only “What works?” but also “How well does it work?” and “What does it cost?” Unfortunately, evaluations of social-work practice—like evaluations in any field—rarely can measure all the relevant variables. In particular, benefits are extremely difficult to measure. Costs are simpler to measure, but even so, few evaluations measure costs. In the end, all evaluations are inevitably incomplete and so must make subjective judgments aboutunmeasured factors. The key to evaluation, then, is not certainty …
Family Saving And Community Assets: Designing And Implementing Family-Centered, Place-Based Individual Development Account Programs, Stephanie C. Boddie, Michael Sherraden, Lorlene Hoyt, Prema Thirupathy, Trina Shanks, Solana Rice, Margaret Sherraden
Family Saving And Community Assets: Designing And Implementing Family-Centered, Place-Based Individual Development Account Programs, Stephanie C. Boddie, Michael Sherraden, Lorlene Hoyt, Prema Thirupathy, Trina Shanks, Solana Rice, Margaret Sherraden
Center for Social Development Research
Family Saving and Community Assets: Designing and Implementing Family-Centered, Place-Based Individual Development Account Programs
Racial Differences In Performance In A Matched Savings Program, Michal Grinstein-Weiss, Michael Sherraden
Racial Differences In Performance In A Matched Savings Program, Michal Grinstein-Weiss, Michael Sherraden
Center for Social Development Research
This study examines the saving performance of low income African Americans and Caucasian participants in an Individual Development Accounts (IDA) program. IDAs are matched saving for home ownership, education, and small business capitalization. Using data from the American Dream Demonstration (N = 2,364), this study compares the savings performance of Black and White participants in IDAs. The results indicate that low-income African Americans on average save successfully in IDAs, though in smaller amounts than Caucasians. Results of separateregressions for Blacks and Whites indicate that mostly individual characteristics are associatedwith saving performance among Caucasians. In contrast, mostly institutional characteristics areassociated with …
Saving For Microenterprise In Individual Development Accounts: Lessons From The American Dream Demonstration, Fred M. Ssewamala, Michael Sherraden
Saving For Microenterprise In Individual Development Accounts: Lessons From The American Dream Demonstration, Fred M. Ssewamala, Michael Sherraden
Center for Social Development Research
Saving for Microenterprise in Individual Development Accounts: Lessons From the American Dream Demonstration
Overcoming Poverty: Supported Saving As A Household Development Strategy, Margaret S. Sherraden, Trina Williams, Amanda Moore Mcbride, Fred Ssewamala
Overcoming Poverty: Supported Saving As A Household Development Strategy, Margaret S. Sherraden, Trina Williams, Amanda Moore Mcbride, Fred Ssewamala
Center for Social Development Research
Low-income participants experience greater positive financial, psychological, and cognitive outcomes of saving in IDAs than controls. The study contributes to knowledge about poverty alleviation, capacity-building, and empowerment.
Saving Performance In Individual Development Accounts: Does Marital Status Matter?, Michal Grinstein-Weiss, Min Zhan, Michael Sherraden
Saving Performance In Individual Development Accounts: Does Marital Status Matter?, Michal Grinstein-Weiss, Min Zhan, Michael Sherraden
Center for Social Development Research
Research indicates that marriage has a large effect on reducing the risk of poverty and is associated with a higher probability of attaining affluence over the life course when comparedwith nonmarriage. Using data from the American Dream Demonstration (N = 2,364), this studycompares savings performances of married and unmarried low income participants in a matched savings program – Individual Development Accounts (IDAs). The results indicate that both married and unmarried low income participants can save in IDA programs; however, unmarried participants are saving less than married participants. We further examine possible factors that are associated with savings performance for these …
Evaluation Of The American Dream Demonstration: Final Evaluation Report, Gregory Mills, Rhiannon Patterson, Larry Orr, Donna Demarco
Evaluation Of The American Dream Demonstration: Final Evaluation Report, Gregory Mills, Rhiannon Patterson, Larry Orr, Donna Demarco
Center for Social Development Research
Evaluation of the American Dream Demonstration: Final Evaluation Report
Integrating Savings Into Microenterprise Programs For The Poor: Do Institutions Matter?, Fred M. Ssewamala, Michael Sherraden
Integrating Savings Into Microenterprise Programs For The Poor: Do Institutions Matter?, Fred M. Ssewamala, Michael Sherraden
Center for Social Development Research
Numerous theoretical frameworks have been used to explain factors that influence outcomes of poor families engaged in self-employment. Theories related to human capital, social capital, andfinancial assets have guided most studies. Using data from fourteen institutions promoting self-employment among the poor, and drawing on the institutional theory, this study finds that theories related to individual influences do not adequately explain all the phenomenon.Controlling for a wide range of individual characteristics, there is a statistically significant association between institutional influences and participants’ outcomes. Policy makers shouldconsider a range of institutional characteristics when designing policies and programs aimed atpromoting self-employment among poor …
Saving For Post-Secondary Education In Individual Development Accounts, Min Zhan, Mark Schreiner
Saving For Post-Secondary Education In Individual Development Accounts, Min Zhan, Mark Schreiner
Center for Social Development Research
Low-income people have less access to opportunities for post-secondary education, and the welfare reform in 1996 further limited access for welfare recipients. Since welfare reform, there has been an increasing interest in strategiesmeant to enhance the well-being of low-incomepeople through education and the development of human capital. In this study, we examine how low-income people saved for post-secondary education in Individual Development Accounts (IDAs) in a nationwide demonstration. IDAs are structured accounts that provide matches for savings used for home purchase, microenterprise, retirement savings, and post-secondary education. We examine how savings outcomes differed between participants who intended to use their …
Individual Development Accounts In Rural Communities: Implications For Research, Michal Grinstein-Weiss, Jami Curley
Individual Development Accounts In Rural Communities: Implications For Research, Michal Grinstein-Weiss, Jami Curley
Center for Social Development Research
Individual Development Accounts in Rural Communities: Implications for Research
The Effects Of Individual Development Account Programs: Perceptions Of Participants, Amanda Moore Mcbride, Margaret Lombe, Sondra G. Beverly
The Effects Of Individual Development Account Programs: Perceptions Of Participants, Amanda Moore Mcbride, Margaret Lombe, Sondra G. Beverly
Center for Social Development Research
In the United States, Individual Development Accounts (IDAs) are a social development strategy for increasing economic participation and long-term economic security. This article uses cross-sectional survey data (N=298) to describe perceived IDA effects: psychological, economic, social, and civic. Future research can inform the effects of specific program characteristics, such as financial education, as well as the applicability of IDAs worldwide.
Drop-Out From Individual Development Accounts: Prediction And Prevention, Mark Schreiner, Michael Sherraden
Drop-Out From Individual Development Accounts: Prediction And Prevention, Mark Schreiner, Michael Sherraden
Center for Social Development Research
Individual Development Accounts (IDAs) are a new policy instrument designed to help the poor save and accumulate assets. IDAs provide matches for savings used for home purchase, post-secondary education, or microenterprise. IDAs cannot help participants, however, if they drop out. What determines drop-out, and what can be done to help participants to stay in? Three findings emerge from an analysis of IDAs in the American Dream Demonstration. First, drop-out depends more on transaction costs and previous debt than on income. Second, program design --and match rates in particular--affect drop-out risk. Third, drop-out can be predicted with some accuracy, so IDA …