IDEAS home Printed from https://ideas.repec.org/a/kap/jfamec/v40y2019i2d10.1007_s10834-018-9604-5.html
   My bibliography  Save this article

Effects of Youth Savings Accounts on School Attendance and Academic Performance: Evidence from a Youth Savings Experiment

Author

Listed:
  • David Ansong

    (Global Social Development Innovations (GSDI), University of North Carolina at Chapel Hill)

  • Gina Chowa

    (Global Social Development Innovations (GSDI), University of North Carolina at Chapel Hill)

  • Rainier Masa

    (Global Social Development Innovations (GSDI), University of North Carolina at Chapel Hill)

  • Mathieu Despard

    (Brown School, Washington University in St. Louis)

  • Michael Sherraden

    (Brown School, Washington University in St. Louis)

  • Shiyou Wu

    (Arizona State University)

  • Isaac Osei-Akoto

    (Institute of Statistical, Social and Economic Research (ISSER), University of Ghana)

Abstract

Asset-accumulation interventions are promising tools for promoting better educational outcomes. However, little is known about the educational effects of youth-owned assets, particularly in resource-limited countries. The Ghana YouthSave Experiment established a rigorous foundation for exploring youth responses when offered opportunities to save for their education. This study uses data from 2000 junior high YouthSave participants, who were randomly assigned to one of two treatments (in-school or local bank access) or the control group. Treatment effects on school attendance and academic performance are examined using difference-in-difference estimation with bootstrapped standard errors. Treatment effects were significant for attendance but not performance. Findings suggest longer posttreatment follow-up is needed for effects to manifest. This study demonstrates the potential of asset-accumulation programs to contribute to improved behavioral outcomes, and offers insights for the integration of financial capability programs in youth development policies.

Suggested Citation

  • David Ansong & Gina Chowa & Rainier Masa & Mathieu Despard & Michael Sherraden & Shiyou Wu & Isaac Osei-Akoto, 2019. "Effects of Youth Savings Accounts on School Attendance and Academic Performance: Evidence from a Youth Savings Experiment," Journal of Family and Economic Issues, Springer, vol. 40(2), pages 269-281, June.
    • Handle: RePEc:kap:jfamec:v:40:y:2019:i:2:d:10.1007_s10834-018-9604-5
    DOI: 10.1007/s10834-018-9604-5
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10834-018-9604-5
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10834-018-9604-5?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. United Nations UN, 2015. "The Millennium Development Goals Report 2015," Working Papers id:7097, eSocialSciences.
    2. Luca Stanca, 2006. "The Effects of Attendance on Academic Performance: Panel Data Evidence for Introductory Microeconomics," The Journal of Economic Education, Taylor & Francis Journals, vol. 37(3), pages 251-266, July.
    3. Loke, Vernon, 2013. "Parental asset accumulation trajectories and children's college outcomes," Economics of Education Review, Elsevier, vol. 33(C), pages 124-133.
    4. Daniel Fernandes & John G. Lynch & Richard G. Netemeyer, 2014. "Financial Literacy, Financial Education, and Downstream Financial Behaviors," Management Science, INFORMS, vol. 60(8), pages 1861-1883, August.
    5. Gordon B. Dahl & Lance Lochner, 2012. "The Impact of Family Income on Child Achievement: Evidence from the Earned Income Tax Credit," American Economic Review, American Economic Association, vol. 102(5), pages 1927-1956, August.
    6. Randall K. Q. Akee & William E. Copeland & Gordon Keeler & Adrian Angold & E. Jane Costello, 2010. "Parents' Incomes and Children's Outcomes: A Quasi-experiment Using Transfer Payments from Casino Profits," American Economic Journal: Applied Economics, American Economic Association, vol. 2(1), pages 86-115, January.
    7. Elliott, William & Kim, Kevin & Jung, Hyunzee & Zhan, Min, 2010. "Asset holding and educational attainment among African American youth," Children and Youth Services Review, Elsevier, vol. 32(11), pages 1497-1507, November.
    8. John Cockburn & Benoit Dostie, 2007. "Child Work and Schooling: The Role of Household Asset Profiles and Poverty in Rural Ethiopia," Journal of African Economies, Centre for the Study of African Economies, vol. 16(4), pages 519-563, August.
    9. Annamaria Lusardi & Olivia S. Mitchell, 2014. "The Economic Importance of Financial Literacy: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 52(1), pages 5-44, March.
    10. Huang, Jin & Guo, Baorong & Kim, Youngmi & Sherraden, Michael, 2010. "Parental income, assets, borrowing constraints and children's post-secondary education," Children and Youth Services Review, Elsevier, vol. 32(4), pages 585-594, April.
    11. Julia Shu†Huah Wang & Fred M. Ssewamala & Torsten B. Neilands & Laura Gauer Bermudez & Irwin Garfinkel & Jane Waldfogel & Jeannie Brooks†Gunn & Jing You, 2018. "Effects of Financial Incentives on Saving Outcomes and Material Well†Being: Evidence From a Randomized Controlled Trial in Uganda," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 37(3), pages 602-629, June.
    12. Ansong, David & Chowa, Gina A. & Sherraden, Michael, 2015. "Household assets, academic expectations, and academic performance among Ghanaian junior high school students: Investigating mediation," Children and Youth Services Review, Elsevier, vol. 50(C), pages 101-110.
    13. Nam, Jaehyun & Ansong, David, 2015. "The effects of a dedicated education savings account on children's college graduation," Economics of Education Review, Elsevier, vol. 48(C), pages 198-207.
    14. Zhan, Min & Sherraden, Michael, 2011. "Assets and liabilities, race/ethnicity, and children's college education," Children and Youth Services Review, Elsevier, vol. 33(11), pages 2168-2175.
    15. United Nations UN, 2015. "The Millennium Development Goals Report 2015," Working Papers id:7222, eSocialSciences.
    16. Glewwe, Paul & Kassouf, Ana Lucia, 2012. "The impact of the Bolsa Escola/Familia conditional cash transfer program on enrollment, dropout rates and grade promotion in Brazil," Journal of Development Economics, Elsevier, vol. 97(2), pages 505-517.
    17. Michael S. Christian, 2007. "Liquidity constraints and the cyclicality of college enrollment in the United States," Oxford Economic Papers, Oxford University Press, vol. 59(1), pages 141-169, January.
    18. Kafle, Kashi & Jolliffe, Dean & Winter-Nelson, Alex, 2018. "Do different types of assets have differential effects on child education? Evidence from Tanzania," World Development, Elsevier, vol. 109(C), pages 14-28.
    19. Aaronson, Daniel, 2000. "A Note on the Benefits of Homeownership," Journal of Urban Economics, Elsevier, vol. 47(3), pages 356-369, May.
    20. Isaac Koomson & Samuel Kobina Annim & James Atta Peprah, 2016. "Loan refusal, household income and savings in Ghana: a dominance analysis approach," African Journal of Economic and Sustainable Development, Inderscience Enterprises Ltd, vol. 5(2), pages 172-191.
    21. Ansong, David & Wu, Shiyou & Chowa, Gina A.N., 2015. "The role of child and parent savings in promoting expectations for university education among middle school students in Ghana: A propensity score analysis," Children and Youth Services Review, Elsevier, vol. 58(C), pages 265-273.
    22. William Elliott & Monique Constance-Huggins & Hyun-a Song, 2013. "Improving College Progress among Low- to Moderate-Income (LMI) Young Adults: The Role of Assets," Journal of Family and Economic Issues, Springer, vol. 34(4), pages 382-399, December.
    23. Chowa, Gina A.N. & Masa, Rainier D. & Ramos, Yalitza & Ansong, David, 2015. "How do student and school characteristics influence youth academic achievement in Ghana? A hierarchical linear modeling of Ghana YouthSave baseline data," International Journal of Educational Development, Elsevier, vol. 45(C), pages 129-140.
    24. Zhan, Min, 2006. "Assets, parental expectations and involvement, and children's educational performance," Children and Youth Services Review, Elsevier, vol. 28(8), pages 961-975, August.
    25. Pallegedara, Asankha & Mottaleb, Khondoker Abdul, 2018. "Patterns and determinants of private tutoring: The case of Bangladesh households," International Journal of Educational Development, Elsevier, vol. 59(C), pages 43-50.
    26. Mark Montgomery & Paul C. Hewett, 2005. "Poverty and Children's Schooling in Urban and Rural Senegal," Department of Economics Working Papers 05-08, Stony Brook University, Department of Economics.
    27. Chowa, Gina A.N. & Masa, Rainier D. & Wretman, Christopher J. & Ansong, David, 2013. "The impact of household possessions on youth's academic achievement in the Ghana Youthsave experiment: A propensity score analysis," Economics of Education Review, Elsevier, vol. 33(C), pages 69-81.
    28. Yung Soo Lee & Lissa Johnson & David Ansong & Isaac Osei‐Akoto & Rainier Masa & Gina Chowa & Michael Sherraden, 2017. "‘Taking the Bank to the Youth’: Impacts on Savings from the Ghana YouthSave Experiment," Journal of International Development, John Wiley & Sons, Ltd., vol. 29(7), pages 936-947, October.
    29. Elliott, William & Sherraden, Michael, 2013. "Assets and educational achievement: Theory and evidence," Economics of Education Review, Elsevier, vol. 33(C), pages 1-7.
    30. Peter Glick & David E. Sahn, 2010. "Early Academic Performance, Grade Repetition, and School Attainment in Senegal: A Panel Data Analysis," The World Bank Economic Review, World Bank, vol. 24(1), pages 93-120, January.
    31. Nam, Yunju & Huang, Jin, 2009. "Equal opportunity for all? Parental economic resources and children's educational attainment," Children and Youth Services Review, Elsevier, vol. 31(6), pages 625-634, June.
    32. Ansong, David & Okumu, Moses & Hamilton, Eric R. & Chowa, Gina A. & Eisensmith, Sarah R., 2018. "Perceived family economic hardship and student engagement among junior high schoolers in Ghana," Children and Youth Services Review, Elsevier, vol. 85(C), pages 9-18.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Imani Careese Johnson & Solomon Hadi Achulo & Kanisha Coleman Brevard & David Ansong, 2024. "Examining Financial Hardship and Caregiver Subgroups in Kinship Foster Placements: A Machine Learning Approach," Societies, MDPI, vol. 14(3), pages 1-13, March.
    2. Sun, Sicong & Nabunya, Proscovia & Byansi, William & Sensoy Bahar, Ozge & Damulira, Christopher & Neilands, Torsten B. & Guo, Shenyang & Namuwonge, Flavia & Ssewamala, Fred M., 2020. "Access and utilization of financial services among poor HIV-impacted children and families in Uganda," Children and Youth Services Review, Elsevier, vol. 109(C).
    3. Jeffrey Anvari-Clark & David Ansong, 2022. "Predicting Financial Well-Being Using the Financial Capability Perspective: The Roles of Financial Shocks, Income Volatility, Financial Products, and Savings Behaviors," Journal of Family and Economic Issues, Springer, vol. 43(4), pages 730-743, December.
    4. Ana María Martínez-Martínez & Christian Roith & José M. Aguilar-Parra & Ana Manzano-León & José M. Rodríguez-Ferrer & Remedios López-Liria, 2022. "Relationship between Emotional Intelligence, Victimization, and Academic Achievement in High School Students," Social Sciences, MDPI, vol. 11(6), pages 1-10, June.
    5. Xiaohui Sophie Li, 2021. "What Impacts Young Generations’ School/College Education Through the Lens of Family Economics? A Review on JFEI Publications in the Past Ten Years," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 118-123, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Elliott, William & Destin, Mesmin & Friedline, Terri, 2011. "Taking stock of ten years of research on the relationship between assets and children's educational outcomes: Implications for theory, policy and intervention," Children and Youth Services Review, Elsevier, vol. 33(11), pages 2312-2328.
    2. Kafle, Kashi & Jolliffe, Dean & Winter-Nelson, Alex, 2018. "Do different types of assets have differential effects on child education? Evidence from Tanzania," World Development, Elsevier, vol. 109(C), pages 14-28.
    3. Kafle, Kashi R. & Dean, Jolliffe, 2015. "Effects of asset ownership on child health indicators and educational performance in Tanzania," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205687, Agricultural and Applied Economics Association.
    4. Fang, Shu & Huang, Jin & Wu, Shiyou & Jin, Minchao & Kim, Youngmi & Henrichsen, Courtney, 2020. "Family assets, parental expectation, and child educational achievement in China: A validation of mediation analyses," Children and Youth Services Review, Elsevier, vol. 112(C).
    5. Nam, Jaehyun & Ansong, David, 2015. "The effects of a dedicated education savings account on children's college graduation," Economics of Education Review, Elsevier, vol. 48(C), pages 198-207.
    6. Fang, Shu & Huang, Jin & Curley, Jami & Birkenmaier, Julie, 2018. "Family assets, parental expectations, and children educational performance: An empirical examination from China," Children and Youth Services Review, Elsevier, vol. 87(C), pages 60-68.
    7. Kafle, Kashi & Jolliffe, Dean & Winter-Nelson, Alex, 2016. "Effects of household asset holdings on child educational performance: Evidence from Tanzania," 2016 Fifth International Conference, September 23-26, 2016, Addis Ababa, Ethiopia 249273, African Association of Agricultural Economists (AAAE).
    8. William Elliott & Monique Constance-Huggins & Hyun-a Song, 2013. "Improving College Progress among Low- to Moderate-Income (LMI) Young Adults: The Role of Assets," Journal of Family and Economic Issues, Springer, vol. 34(4), pages 382-399, December.
    9. Elliott, William, 2013. "The effects of economic instability on children's educational outcomes," Children and Youth Services Review, Elsevier, vol. 35(3), pages 461-471.
    10. Eva Deuchert & Christina Felfe, 2013. "The Tempest: Natural Disasters, Early Shocks and Children's Short- and Long-Run Development," CESifo Working Paper Series 4168, CESifo.
    11. Zhan, Min & Sherraden, Michael, 2011. "Assets and liabilities, race/ethnicity, and children's college education," Children and Youth Services Review, Elsevier, vol. 33(11), pages 2168-2175.
    12. Kim, Youngmi & Sherraden, Michael, 2011. "Do parental assets matter for children's educational attainment?: Evidence from mediation tests," Children and Youth Services Review, Elsevier, vol. 33(6), pages 969-979, June.
    13. Xu, Sijia & Shonchoy, Abu S. & Fujii, Tomoki, 2022. "Assessing gender parity in intrahousehold allocation of educational resources: Evidence from Bangladesh," World Development, Elsevier, vol. 151(C).
    14. Ansong, David & Wu, Shiyou & Chowa, Gina A.N., 2015. "The role of child and parent savings in promoting expectations for university education among middle school students in Ghana: A propensity score analysis," Children and Youth Services Review, Elsevier, vol. 58(C), pages 265-273.
    15. Ansong, David & Okumu, Moses & Hamilton, Eric R. & Chowa, Gina A. & Eisensmith, Sarah R., 2018. "Perceived family economic hardship and student engagement among junior high schoolers in Ghana," Children and Youth Services Review, Elsevier, vol. 85(C), pages 9-18.
    16. José Antonio Rodríguez Martín & Juan Dios Jiménez Aguilera & José Antonio Salinas Fernández & José María Martín Martín, 2016. "Millennium Development Goals 4 and 5: Progress in the Least Developed Countries of Asia," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 129(2), pages 489-504, November.
    17. Caroline Jennings Saul & Heiko Gebauer, 2018. "Digital Transformation as an Enabler for Advanced Services in the Sanitation Sector," Sustainability, MDPI, vol. 10(3), pages 1-18, March.
    18. Subramaniam, Mega & Pang, Natalie & Morehouse, Shandra & Asgarali-Hoffman, S. Nisa, 2020. "Examining vulnerability in youth digital information practices scholarship: What are we missing or exhausting?," Children and Youth Services Review, Elsevier, vol. 116(C).
    19. Bruno F. Sunguya & Yue Ge & Linda B. Mlunde & Rose Mpembeni & Germana H. Leyna & Krishna C. Poudel & Niyati Parekh & Jiayan Huang, 2022. "Targeted and Population-Wide Interventions Are Needed to Address the Persistent Burden of Anemia among Women of Reproductive Age in Tanzania," IJERPH, MDPI, vol. 19(14), pages 1-12, July.
    20. TAVARES Fernando Oliveira & ALMEIDA Luís Gomes & SOARES Vasco Jorge & TAVARES Vasco Capela, 2022. "Financial literacy: an exploratory analysis in Portugal," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 17(2), pages 252-269, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jfamec:v:40:y:2019:i:2:d:10.1007_s10834-018-9604-5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.