Social and Financial Supports: The Effect on Saving in Individual Development Accounts
Creator
Lyskawa, Julia
Advisor
Fitzpatrick, Katie
Abstract
The mission of the federal Assets for Independence (AFI) program is to help low-income families improve their financial literacy and acquire long-term assets by saving in special matched savings accounts called individual development accounts (IDAs). This paper evaluates the AFI program, specifically the effect offering financial and social services has on participant saving in individual development accounts. Using data from the AFI Annual Data Report, a cross-sectional analysis and a panel data analysis are both run to test this research question. Both models control for IDA participant characteristics. The results of these analyses illustrate that the availability of financial services for IDA savers has a positive impact on average participant savings. This may be an argument for requiring all AFI grantees to offer a minimum level of financial supports to participants.
Description
M.P.P.
Permanent Link
http://hdl.handle.net/10822/558166Date Published
2011Subject
Type
Publisher
Georgetown University
Extent
59 leaves
Metadata
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