Vernon Loke

Publication Date



The effects of parental assets on children’s educational outcomes have mainly been explored from the perspective of asset holdings. However, the process of asset accumulation may also have effects. While asset-based policies are predicated on the premise of asset accumulation, little is known about the effects of different asset accumulation trajectories. This study attempts to fill this gap. The results indicate that youths born into households that had asset holdings significantly higher than zero have better college outcomes compared to youths born into households with lower levels of net worth that did not increase significantly over time. However, when lower-wealth households experience significant asset accumulation over time, youths from these households have similar educational outcomes as youths from wealthier households. Finally, the results indicate that the effects of assets are partially or fully mediated by the mother’s educational expectations. Implications for asset-based policy are discussed.

Document Type

Working Paper


Financial Inclusion


Asset Building

Original Citation

Kim, Y., Lee, S., & Sherraden, M. (2012). Seoul Hope Plus Savings Accounts: Asset-building program for low-income households in Seoul (Third-year collaborative research report) (CSD Report No. 12-32). St. Louis, MO: Washington University, Center for Social Development.


asset effects, Assets and Education Symposium, asset accumulation