This study examines savings outcomes in the first large-scale demonstration of Child Development Accounts (CDAs) in the United States—the Saving for Education, Entrepreneurship, and Downpayment (SEED) initiative. It is also the first empirical study, to our knowledge, to investigate associations between savings outcomes and incentives in an asset-building program for children. This study enhances knowledge about saving in CDAs, incentives in public policy in general, and incentives in savings policy in particular. Results can inform CDA policy design.
This paper was originally presented during Child Development Accounts: Research and Policy Symposium. The November 2008 conference paper was developed for publication in Child Development Accounts: Theory, Evidence, and Policy Potential, a special issue of Children and Youth Services Review. Released in November 2010, the special issue was edited by Michael Sharraden, Youngmi Kim, and Vernon Loke.
Subsequent publication: Mason, L. R., Nam, Y., Clancy, M., Kim, Y., & Loke, V. (2010). Child Development Accounts and saving for children’s future: Do financial incentives matter? Children & Youth Services Review, 32(11), 1570–1576. doi:10.1016/j.childyouth.2010.04.007
Project: SEED National Initiative
Mason, L. R., Nam, Y., Clancy, M., Kim, Y., & Loke, V. (2009). Child Development Accounts and saving for children’s future: Do financial incentives matter? (CSD Working Paper No. 09-54). St. Louis, MO: Washington University, Center for Social Development.