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Income, Institutions, and Saving Performance in Individual Development Accounts

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  • Michael Sherraden
  • Mark Schreiner
  • Sondra Beverly

Abstract

This article examines the relationship between income and saving performance in Individual Development Accounts (IDAs). The authors first discuss theories of saving. Next, for IDA participants in the American Dream Demonstration (ADD), they look at income sources and distribution, followed by tabulations of income and IDA savings outcomes. Following this, the article discusses results from regression analyses on IDA savings outcomes. It was found that the IDA savings amount did not increase with income and that the IDA saving rate decreased with income. Although the data do not reveal exactly what caused this, the authors believe that institutional factors in IDA programs played an important role.

Suggested Citation

  • Michael Sherraden & Mark Schreiner & Sondra Beverly, 2003. "Income, Institutions, and Saving Performance in Individual Development Accounts," Economic Development Quarterly, , vol. 17(1), pages 95-112, February.
  • Handle: RePEc:sae:ecdequ:v:17:y:2003:i:1:p:95-112
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    References listed on IDEAS

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    Cited by:

    1. Mason, Lisa Reyes & Nam, Yunju & Clancy, Margaret & Kim, Youngmi & Loke, Vernon, 2010. "Child Development Accounts and saving for children's future: Do financial incentives matter?," Children and Youth Services Review, Elsevier, vol. 32(11), pages 1570-1576, November.
    2. Vernon Loke & Laura Choi & Margaret Libby, 2015. "Increasing Youth Financial Capability: An Evaluation of the MyPath Savings Initiative," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 97-126, March.
    3. Chowa, Gina A.N. & Elliott III, William, 2011. "An asset approach to increasing perceived household economic stability among families in Uganda," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(1), pages 81-87, February.
    4. Loke, Vernon & Choi, Laura & Larin, Lauren & Libby, Margaret, 2016. "Boosting the power of youth paychecks: integrating financial capability into youth employment programs," Community Development Investment Center Working Paper 2016-3, Federal Reserve Bank of San Francisco.
    5. Yoko Mimura, 2014. "The Relationship Between Life Satisfaction Among Wives and Financial Preparedness of Households in Japan," Journal of Family and Economic Issues, Springer, vol. 35(4), pages 532-541, December.
    6. repec:eee:joecag:v:9:y:2017:i:c:p:30-40 is not listed on IDEAS
    7. Grinstein-Weiss, Michal & Wagner, Kristen & Ssewamala, Fred M., 2006. "Saving and asset accumulation among low-income families with children in IDAs," Children and Youth Services Review, Elsevier, vol. 28(2), pages 193-211, February.
    8. Loibl, Cäzilia & Kraybill, David S. & DeMay, Sara Wackler, 2011. "Accounting for the role of habit in regular saving," Journal of Economic Psychology, Elsevier, vol. 32(4), pages 581-592, August.
    9. repec:bla:jconsa:v:47:y:2013:i:1:p:1-26 is not listed on IDEAS
    10. Han, Chang-Keun & Sherraden, Michael, 2009. "Do institutions really matter for saving among low-income households? A comparative approach," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(3), pages 475-483, June.
    11. Beverly, Sondra G. & Kim, Youngmi & Sherraden, Michael & Nam, Yunju & Clancy, Margaret, 2015. "Can Child Development Accounts be inclusive? Early evidence from a statewide experiment," Children and Youth Services Review, Elsevier, vol. 53(C), pages 92-104.
    12. Manturuk, Kim & Dorrance, Jessica & Riley, Sarah, 2012. "Factors affecting completion of a matched savings program: Impacts of time preference, discount rate, and financial hardship," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(6), pages 836-842.
    13. repec:spr:qualqt:v:51:y:2017:i:4:d:10.1007_s11135-016-0342-1 is not listed on IDEAS
    14. Michal Grinstein-Weiss & Shenyang Guo & Vanessa Reinertson & Blair Russell, 2015. "Financial Education and Savings Outcomes for Low-Income IDA Participants: Does Age Make a Difference?," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 156-185, March.

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