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Child Development Accounts in the COVID-19 Crisis: Lessons from the Great Recession

This research and policy report summarizes findings and recommendations from Child Development Account (CDA) research to inform policymakers and practitioners operating or considering CDAs in the midst of the COVID-19 health and economic crisis. CDAs were rigorously tested in the 2008-09 recession and produced positive financial and family results. Likewise, CDAs can be expected to have positive impacts on children in financially vulnerable households during and after the COVID-19 pandemic.

The report examines how CDA research from the previous recession can inform a new kind of social policy intended as an investment for security and development. The report draws from in-person interviews to provide perspectives from the study participants affected by the Great Recession, in their own voices. It summarizes findings and recommendations from CDA research to offer policy solutions to invest in the long-term development of all children and families.

Citation

Sherraden, M., Clancy, M. M., Huang, J., & Beverly, S. G. (2020). Child Development Accounts in the COVID-19 Crisis: Lessons from the Great Recession. (CSD Research and Policy Report No. 20-11). St. Louis, MO: Washington University, Center for Social Development. https://doi.org/10.7936/c5dg-qz60