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A Savings Account For Every Child Born In Israel: Recommendations For Program Implementation, Michal Grinstein-Weiss, Meredith Covington, Margaret M. Clancy, Michael Sherraden Apr 2016

A Savings Account For Every Child Born In Israel: Recommendations For Program Implementation, Michal Grinstein-Weiss, Meredith Covington, Margaret M. Clancy, Michael Sherraden

Center for Social Development Research

In November 2015, Israel enacted legislation to create and fund a Child Development Account program. Beginning in 2017, every baby born to an insured Israeli resident will receive a Child Development Account in his or her name. This brief details the policy, which was developed in collaboration with researchers at the Center for Social Development, and offers recommendations to guide its implementation.


Frequently Asked Questions About The Features Of Child Development Accounts In Israel, Michal Grinstein-Weiss, Meredith Covington, Megan Brewster, Jane E. Oliphant Apr 2016

Frequently Asked Questions About The Features Of Child Development Accounts In Israel, Michal Grinstein-Weiss, Meredith Covington, Megan Brewster, Jane E. Oliphant

Center for Social Development Research

In November 2015, Israel enacted legislation to create and fund a Child Development Account program. Beginning in 2017, every baby born to an insured Israeli resident will receive a Child Development Account in his or her name. This Fact Sheet provides answers to frequently asked questions about the policy, which was developed in collaboration with researchers at the Center for Social Development.


Asset-Based Policy In South Korea, Youngmi Kim, Li Zou, Soyoon Weon, Michael Sherraden, Jin Yong Choi Dec 2015

Asset-Based Policy In South Korea, Youngmi Kim, Li Zou, Soyoon Weon, Michael Sherraden, Jin Yong Choi

Center for Social Development Research

Asset building was first discussed at the 56th Korean National Meetings in November 2004. In November 2006, the conference “Toward a New Paradigm in Social Policy: The Potential of Child Development Accounts in Asset-Based Social Policy,” organized by the Korean Labor Institute and Chung Ang University, generated substantial discussion and reinforced interest in asset-based policy in Korea.


Perceived Impact Of Individual Development Account Participation Among Native Hawaiians, David W. Rothwell, Rashida Bhaiji, Anne Blumenthal May 2013

Perceived Impact Of Individual Development Account Participation Among Native Hawaiians, David W. Rothwell, Rashida Bhaiji, Anne Blumenthal

Center for Social Development Research

Indigenous peoples face many social development challenges and the lingering effects of colonization. Income transfer, a traditional social welfare approach designed to raise minimum living standards, has had limited beneficial effects on long-term social conditions. As a complement to income transfer, asset-based approaches to social welfare have resulted in positive effects in the short and long terms. Some Indigenous communities are exploring how asset-based interventions might enhance social development (Hicks, Edwards, Dennis, & Finsel, 2005), but only limited and scattered research describes how they experience asset-building programs. This qualitative descriptive study explores the perceived impact of a large Individual Development Account ...


Interviews With Mothers Of Young Children In The Seed For Oklahoma Kids College Savings Experiment, Karen Gray, Margaret Clancy, Margaret S. Sherraden, Kristen Wagner, Julie Miller-Cribbs Nov 2012

Interviews With Mothers Of Young Children In The Seed For Oklahoma Kids College Savings Experiment, Karen Gray, Margaret Clancy, Margaret S. Sherraden, Kristen Wagner, Julie Miller-Cribbs

Center for Social Development Research

Interviews With Mothers of Young Children in the SEED for Oklahoma Kids College Savings Experiment


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 Nov 2012

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.


Seoul Hope Plus Savings Accounts: Asset-Building Program For Low-Income Households In Seoul, Youngmi Kim, Soonung Lee, Michael Sherraden Jun 2012

Seoul Hope Plus Savings Accounts: Asset-Building Program For Low-Income Households In Seoul, Youngmi Kim, Soonung Lee, Michael Sherraden

Center for Social Development Research

Seoul Hope Plus Savings Accounts: Asset-Building Program for Low-Income Households in Seoul


Individual Development Accounts And Post-Secondary Education: Evidence From A Randomized Experiment, Michal Grinstein-Weiss, Michael Sherraden, William Gale, William M. Rohe, Mark Schreiner, Clinton Key Mar 2012

Individual Development Accounts And Post-Secondary Education: 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 testing the impact of a 3-year matched savings program on educational outcomes 10 years later. We examine the effect of an Individual Development Account (IDA) program on educational enrollment, degree completion, and increased education level. The IDA program, which ran from 1998 to 2003 in Tulsa, Oklahoma, provided low-income households with financial education and matching funds for qualified savings withdrawals, including a 1:1 match for educational uses. We find a significant impact on education enrollment and positive, but non-significant impacts on degree completion and increase in level of education. We ...


Cash-Flow And Savings Practices Of Low-Income Households: Evidence From A Follow-Up Study Of Ida Participants, David W. Rothwell, Nahid Sultana Feb 2012

Cash-Flow And Savings Practices Of Low-Income Households: Evidence From A Follow-Up Study Of Ida Participants, David W. Rothwell, Nahid Sultana

Center for Social Development Research

This study uses a survey of participants from an Individual Development Account (IDA) matched savings intervention to examine self-reported financial practices (cash flow and savings) five years after the intervention terminated. Latent class analysis produced three groups of financial practices - high, medium, and low functioning. Results showed that some low-income households are carefully managing their finances. Psychological sense of mastery was positively related to high functioning cash-flow and savings. The IDA intervention had no association with latent class membership. Antipoverty interventions should assess the financial practices of participants at the time of service enrollment. Further, social service providers should not ...


Seoul Hope Plus Savings Accounts: Asset-Building Program For Low-Income Households In Seoul (Second-Year Collaborative Research Report), Youngmi Kim, Soonung Lee, Mihyun Kim Jun 2011

Seoul Hope Plus Savings Accounts: Asset-Building Program For Low-Income Households In Seoul (Second-Year Collaborative Research Report), Youngmi Kim, Soonung Lee, Mihyun Kim

Center for Social Development Research

Seoul Hope Plus Savings Accounts: Asset-Building Program for Low-Income Households in Seoul (Second-Year Collaborative Research Report)


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 Mar 2011

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 ...


Inquiry, Innovation, & Impact: Report To The Community, Center For Social Development Feb 2011

Inquiry, Innovation, & Impact: Report To The Community, Center For Social Development

Center for Social Development Research

Inquiry, Innovation, & Impact: Report to the Community


Seoul Hope Plus Savings Accounts: Asset-Building Program For Low-Income Households In Seoul, Mihyun Kim, Jisung Kwon, Sunwook Chung, Hyunmira Hong, Yunju Nam, Youngmi Kim, Eunlye Lee Jun 2010

Seoul Hope Plus Savings Accounts: Asset-Building Program For Low-Income Households In Seoul, Mihyun Kim, Jisung Kwon, Sunwook Chung, Hyunmira Hong, Yunju Nam, Youngmi Kim, Eunlye Lee

Center for Social Development Research

Seoul Hope Plus Savings Accounts: Asset-Building Program for Low-Income Households in Seoul


Institutions And Savings In Low-Income Households, Jami Curley, Fred Ssewamala, Michael Sherraden Sep 2009

Institutions And Savings In Low-Income Households, Jami Curley, Fred Ssewamala, Michael Sherraden

The Journal of Sociology & Social Welfare

This paper examines the influence of structured savings program arrangements on the saving performance of low-income households in individual development accounts (IDAs). Data are drawn from the American Dream Demonstration (1997-2004), which looked at the saving performance of low-income households in matched savings accounts across the United States. Hierarchical multivariate regression is used to identify which specific structural program arrangements are important in influencing the saving performance of low-income families. Findings suggest that overall, structured program arrangements, including financial education, peer mentoring groups and saving targets are important in influencing people's saving performance-including low-income families.


Assets As A Resource Variable In The Stress Management Of Low-Income Families, David Rothwell, Chang-Keun Han Sep 2009

Assets As A Resource Variable In The Stress Management Of Low-Income Families, David Rothwell, Chang-Keun Han

Center for Social Development Research

The hard times resulting from the 2008 recession represent an opportunity to re-examine the theoretical framework for how families use economic resources to adjust and adapt to stress. Sherraden’s (1991) theory of assets and McCubbin and Patterson’s (1983) Family Adjustment and Adaptation Response (FAAR) model are used to demonstrate how assets relate to family stressors and demands among a sample of 839 low-income families. The negative relationship between assets and financial stressors and financial strain suggest that the expansion of social welfare policies promoting assets among low-income families may positively influence family relations. Future research on family relations ...


Second Thoughts: Who Almost Participates In An Ida?, David Rothwell, Chang-Keun Han Jul 2009

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 social ...


Asset Building Among Native Hawaiians: Lessons From The Kahikū Ida Program, David Rothwell Jul 2009

Asset Building Among Native Hawaiians: Lessons From The Kahikū Ida Program, David Rothwell

Center for Social Development Research

Individual Development Accounts (IDAs) are matched savings accounts that encourage asset development for individuals and families with low incomes. Unique program data from an IDA program serving 758 Native Hawaiians were used to model the probability of participating in and graduating from the IDA program. Multivariate logistic regression models show that children in the household, lack of vehicle ownership, and savings goal (education) were associated with a reduced likelihood of program participation. Participants who owned homes and had relatively high savings balances prior to starting the program were more likely to graduate. Additionally, Maui participants were more than three times ...


Exploring Saving Performance In An Ida For People With Disabilities: Some Preliminary Findings, Margaret Lombe, Jin Huang, Michelle Putnam, Kate Cooney Jul 2008

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 ...


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 Jul 2008

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.


Global Savings, Assets And Financial Inclusion: Lessons, Challenges, And Directions, Jamie M. Zimmerman, Ray Boshara, Michael Sherraden, Li Zou, Kate Mckee, Leslie Meek-Wohl, Amy Feldman Jul 2007

Global Savings, Assets And Financial Inclusion: Lessons, Challenges, And Directions, Jamie M. Zimmerman, Ray Boshara, Michael Sherraden, Li Zou, Kate Mckee, Leslie Meek-Wohl, Amy Feldman

Center for Social Development Research

Global Savings, Assets and Financial Inclusion: Lessons, Challenges, and Directions


Asset-Based Policy In Rural China: An Innovation In The Retirement Social Insurance Program, Baorong Guo, Jin Huang, Li Zou, Michael Sherraden Jul 2007

Asset-Based Policy In Rural China: An Innovation In The Retirement Social Insurance Program, Baorong Guo, Jin Huang, Li Zou, Michael Sherraden

Center for Social Development Research

In response to the growing rural-urban inequality, China is undertaking a series of policy initiatives to promote rural development. In addition to redistributive policies aiming at social protection, asset-based policy, which integrates social protection and social investment, is another viable option for progressive rural development. In 1998, the Hutubi local government in the Xinjiang Uygur Autonomous Region of China implemented an innovative retirement program which allows account holders to use accounts as legal collateral to borrow small loans and invest in productive assets such as farming supplies and equipment, education, and small businesses. Using the data gathered by the program ...


Asset-Building And Investment In Kenya: Small Pilot Project And Directions, Becky Wachera Gitonga, Kenneth Schultz, Matthew Meyer, Francis Ngambi Jul 2007

Asset-Building And Investment In Kenya: Small Pilot Project And Directions, Becky Wachera Gitonga, Kenneth Schultz, Matthew Meyer, Francis Ngambi

Center for Social Development Research

Asset-Building and Investment in Kenya: Small Pilot Project and Directions


Increasing Parent Educational Expectations For Children In Sub-Saharan Africa: The Potential Role Of Assets, Gina Chowa, William Elliott Iii Jul 2007

Increasing Parent Educational Expectations For Children In Sub-Saharan Africa: The Potential Role Of Assets, Gina Chowa, William Elliott Iii

Center for Social Development Research

It is commonly held in the education literature that parent expectations are an important factor in predicting children’s achievement in school. However, little research has been conducted on educational expectations of parents living in developing countries. In this study of Ugandans we examine whether parents save more when they are given access to Asset Development Accounts (ADAs) and financial training than parents receiving financial training but no ADAs, and/or parents with no ADA or financial training. We find that Ugandan parents who receive both an ADA and financial training experience an increase in mean wealth of US$77 ...


中国农村资产社会政策: 社会养老保险制度的变革 [Asset-Based Policy In Rural China: An Innovation In The Retirement Social Insurance Program], Baorong Guo, Jin Huang, Li Zou, Michael Sherraden Jul 2007

中国农村资产社会政策: 社会养老保险制度的变革 [Asset-Based Policy In Rural China: An Innovation In The Retirement Social Insurance Program], Baorong Guo, Jin Huang, Li Zou, Michael Sherraden

Center for Social Development Research

In response to the growing rural-urban inequality, China is undertaking a series of policy initiatives to promote rural development. In addition to redistributive policies aiming at social protection, asset-based policy, which integrates social protection and social investment, is another viable option for progressive rural development. In 1998, the Hutubi local government in the Xinjiang Uygur Autonomous Region of China implemented an innovative retirement program which allows account holders to use accounts as legal collateral to borrow small loans and invest in productive assets such as farming supplies and equipment, education, and small businesses. Using the data gathered by the program ...


Assets Beyond Saving In Individual Development Accounts, Chang-Keun Han, Michal Grinstein-Weiss, Michael Sherraden Jul 2007

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 ...


Do Institutions Really Matter For Saving Among Low-Income Households? A Comparative Approach, Chang-Keun Han, Michael Sherraden Jul 2007

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 Jul 2007

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 ...


Attitudes Toward Institutional Features And Savings In Individual Development Accounts: Latent Class Analysis, Chang-Keun Han, Michael Sherraden Jul 2007

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 ...


Individual Development Accounts: Frequently Asked Questions, Michal Grinstein-Weiss, Kate Irish Jul 2007

Individual Development Accounts: Frequently Asked Questions, Michal Grinstein-Weiss, Kate Irish

Center for Social Development Research

Individual Development Accounts: Frequently Asked Questions


State Policy Options For Building Assets, Leslie Parrish, Heather Mcculloch, Karen Edwards Jul 2006

State Policy Options For Building Assets, Leslie Parrish, Heather Mcculloch, Karen Edwards

Center for Social Development Research

State Policy Options for Building Assets