Saving, IDA Programs, and Effects of IDAs: A Survey of Participants

Amanda Moore, Sondra Beverly (), Mark Schreiner (), Michael Sherraden, Margaret Lombe, Esther Y. N. Cho, Lissa Johnson and Rebecca Vonderlack
Additional contact information
Amanda Moore: Washington University in St. Louis
Michael Sherraden: WUSTL
Margaret Lombe: WUSTL
Esther Y. N. Cho: WUSTL
Lissa Johnson: WUSTL
Rebecca Vonderlack: WUSTL

Microeconomics from EconWPA

Abstract: Individual Development Accounts (IDAs) are special savings accounts designed to help people build assets to reach life goals and to achieve long-term security. Account-holders receive matching funds as they save for purposes such as buying a first home, attending job training, going to college, or financing a small business. Research has shown that most low-income participants save in IDAs (Sherraden et al., 2000). But what do participants think about the match rates, the withdrawal restrictions, and other institutional attributes of IDAs? How do they manage to set aside money for IDA deposits? And what effects do they perceive from their participation in IDA programs? This report uses cross-sectional survey data from current (N=298) and former (N=20) IDA participants in the American Dream Demonstration to address these and other questions.

Keywords: Individual Development Accounts; asset effects; financial literacy; savings incentives (search for similar items in EconPapers)
JEL-codes: D91 L3 H43 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mfd
Date: 2001-09-02, Revised 2001-12-27
Note: Type of Document - Adobe Acrobat 3.0; prepared on Windows 98; to print on Adobe Acrobat 3.0; pages: 65 ; figures: Included in pdf file
View list of references

Downloads: (external link)
http://129.3.20.41/eps/mic/papers/0108/0108002.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpmi:0108002

Access Statistics for this paper

More papers in Microeconomics from EconWPA
Series data maintained by EconWPA ().