Building Assets for All: Research and Policy for Universal Children’s Accounts
In this talk, professor Sherraden will discuss the concept and research on Child Development Accounts (CDAs), and the influence of research in creating new policies. Among important research findings are that children of all races and ethnicities can be included and benefit from CDAs, with positive impacts on their asset holding, personal development, and future educational attainment.
Michael Sherraden, PhD, is the George Warren Brown Distinguished University Professor and founding director of the Center for Social Development (CSD). CSD creates and tests innovations to improve social and economic well-being and uses research results to inform public policy.
Sherraden is the author of Assets and the Poor (1991), which proposes Individual Development Accounts (IDAs), matched savings to enable low-income families to accumulate assets. Additional research on asset building appears in Inclusion in the American Dream (2005), Can the Poor Save? (2007), and Saving in Low-Income Families (2008). IDAs have been adopted in federal and state legislation in the US and in many other countries. An IDA program in Seoul—known as “Hope Development Accounts”—won a United Nations Public Service Award in 2010. Currently, CSD is undertaking a large experimental test of Child Development Accounts (universal and progressive accounts at birth) in the state of Oklahoma, and research on youth savings is underway in Colombia, Ghana, Kenya, and Nepal.