Title

Program Knowledge and Racial Disparities in Savings Outcomes in a Child Development Account Experiment

Author

Yunju Nam

Additional Authors

Hole, Elizabeth; Sherraden, Michael; Clancy, Margaret

Publication Date

2-20-2018

Summary

Automatic enrollment and an initial deposit are key features of most Child Development Account (CDA) programs. Yet, are individual savings outcomes influenced by whether the parents of automatically enrolled children understand the features of the CDAs? and does variation in program knowledge explain documented racial and ethnic differences in individual savings outcomes? This study, a product of the SEED for Oklahoma Kids experiment, sought answers. The findings challenge traditional assumptions and suggest key insights for the development of public policy.

Document Type

Article

Category

Financial Inclusion

Subarea

Asset Building

Notes

Subsequent publication: Nam, Y., Hole, E., Sherraden, M., & Clancy, M. M. (2018). Program knowledge and racial disparities in savings outcomes in a Child Development Account experiment. Journal of Family and Economic Issues, 39(1), 145–162. doi:10.1007/s10834-017-9544-5

Original Citation

Nam, Y., Hole, E., Sherraden, M., & Clancy, M. (2014). Program knowledge and savings outcomes in a Child Development Account experiment (CSD Working Paper No. 14-22). St. Louis, MO: Washington University, Center for Social Development.

Project

SEED for Oklahoma Kids

Keywords

SEED OK, CDA, child development account, savings, race, savings outcomes, asset building, assets, children, college savings plan

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