Social Work Commons^™

Global Child Development Accounts: A “Moon Shot” To Develop Every Child And The Planet, Michael Sherraden, Li Zou

Center for Social Development Research

The early 21st century has been marked by several global stresses. Effective responses, note Michael Sherraden and Li Zou, require large, bold solutions. In this concept note, they propose a global Child Development Account initiative, a global project for building assets for all children to invest in their full development. The times require audacity, Sherraden and Zou assert, but big changes are possible.

Child Development Accounts Reach Over 15 Million Children Globally, Li Zou, Michael Sherraden

Center for Social Development Research

First proposed in 1991, inclusive asset-building policy for each child, policy that begins at birth, has now been tested and implemented in settings across the globe. This brief documents the emergence of Child Development Accounts and estimates their scope, focusing on policies in Singapore, the United Kingdom, Korea, Canada, Israel, and the United States.

Financial Facts: Seed Ok Child Development Accounts At Age 14, Margaret M. Clancy, Sondra G. Beverly, Mark Schreiner, Jin Huang, Michael Sherraden

Center for Social Development Research

This Fact Sheet presents financial outcomes as of December 31, 2021, when children in the SEED for Oklahoma Kids (SEED OK) experiment were about 14 years old. SEED OK is a large-scale policy test of universal, automatic, and progressive Child Development Accounts (CDAs). The essential feature of the CDA in SEED OK is a state-owned Oklahoma 529 College Savings Plan (OK 529) account, which was automatically opened for newborns in late 2007 with an initial deposit of $1,000 and which has now grown to about $2,300.

Economic Security From An Asset Perspective, William Elliott Iii

Center for Social Development Research

hat is economic security, and what policies can help more families achieve it?

In talking about the New Deal, President Franklin Roosevelt provided a vision for what economic security should look like in America, a vision that CSD Faculty Director William Elliott III elaborates in this essay. To be secure, Elliott notes, families require enough to live by and something to live for; that is, they require income and assets. Elliott makes the case that policy has a vital role to play in creating and sustaining this security.

This Perspective presents remarks given by CSD Faculty Director William Elliott III …

Policy Design For Child Development Accounts: Parents' Perceptions, Sondra Beverly, Jin Huang, Margaret M. Clancy, Michael Sherraden

Center for Social Development Research

In the SEED for Oklahoma Kids experiment, which features of Child Development Account (CDA) policy do study participants perceive as important for increasing the number of children who earn a college degree or trade school certificate? Which features do participants view as important for encouraging parents to save for their children’s postsecondary education?

This brief presents findings from a 2020 survey of parents in the experiment, when their children were about 13 years old. Results are for 1,666 parents (those whose children received the CDA in SEED OK and those whose children did not) and for subgroups defined by household …

Financial Capability And Asset Building In Social Work Practice, Michael Sherraden

Center for Social Development Research

Acknowledging the potential benefits of training social workers to offer clients guidance on financial matters, the China Association of Social Work Education created the Financial Social Work Commission in 2020. This new unit within the association was designed to serve as a hub for research and insights to facilitate the development of financial capability and asset holding in vulnerable populations. The Commission promotes the training of social workers with the knowledge and skills required to integrate financial capability services into social work practice.

This Perspective presents the keynote address given by CSD Founding Director Michael Sherraden as part of “Theory …

Preparing Social Workers To Improve People’S Finances, Margaret S. Sherraden

Center for Social Development Research

In 2020, the China Association of Social Work Education created the Financial Social Work Commission, acknowledging the potential benefits of equipping social workers to guide their clients in financial matters. But what do social workers need to know about finances, and how will they learn it?

In this Perspective, Margaret Sherraden shares an address given during “Localization of Financial Social Work Education: Goals, Textbook, and Strategies,” a panel discussion convened as part of Theory and Practice for Financial Social Work: Promoting Common Prosperity, the first national Forum of the Financial Social Work Commission, Beijing, China, January 8, 2022. Panelists discussed …