Wealth at Birth and its Effect on Child Academic Achievement and Behavioral Problems

Luis F. Faundez and Robert Kaestner

No 32628, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In this article, we examine the association between family wealth and academic achievement and socioemotional behaviors of children ages 5 to 12. We examine whether wealth prior to birth and at ages 4 or 5 affects academic test scores and behavioral problems during two periods of childhood, ages 5 to 8 and ages 9 to 12, for a large and relatively recent cohort of children. We also examine associations between different forms of wealth (e.g., home equity) and child achievement and behaviors. Finally, we assess whether wealth prior to birth mediates racial/ethnic disparities in child achievement and disparities in achievement by maternal education/ability (AFQT). Results of our analysis indicate that wealth, particularly financial wealth that is the most liquid, has a modest positive association with achievement test scores. We also find that wealth is associated with fewer behavioral problems, but these results are less robust.

JEL-codes: H40 I24 I30 (search for similar items in EconPapers)
Date: 2024-06
New Economics Papers: this item is included in nep-hea and nep-ure
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