Skip to main content

Access to Investments and Asset Building for Low Income People

  • Chapter
New Frontiers in Banking Services

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.00
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

3.6 References and Bibliography

  • Apgar W.C., Duda M. (2003), The Twenty-Fifth Anniversary of the Community Reinvestment Act: Past Accomplishments and Future Regulatory Challenges, FRBNY Economic Policy Review, June.

    Google Scholar 

  • Ashraf N., Gons N., Karlan D.S., Wesley Y. (2003), A Review of Commitment-Savings Products in Developing Countries, www.adb.org.

    Google Scholar 

  • Bardhan P., Udry C. (1999), Development Microeconomics, Oxford University Press.

    Google Scholar 

  • Bernheim B.D., Garrett D.M. (1996), The Determinants and Consequences of Financial Education in the Workplace: Evidence from a Survey of Households, National Bureau of Economic Research, Working Paper No. 5667.

    Google Scholar 

  • Bernheim B.D., Garrett D.M., Maki D.M. (2001), Education and Saving: The Long-term effects of High School Financial Curriculum Mandates, in Journal of Public Economy, 80-3.

    Google Scholar 

  • Bernheim B.D., Scholz J.K. (1993), Private Saving and Public Policy, Tax Policy and the Economy.

    Google Scholar 

  • Berry C. (2004), To Bank or not to Bank? A Survey of Low-Income Households, Joint Center of Housing Studies Working Paper Series, Cambridge, MA.

    Google Scholar 

  • Beverly S. (1997), How Can the Poor Save? Theory and Evidence on Saving in Low-Income Households, Center for Social Development, University of Washington in Saint Louis, working paper 97-3.

    Google Scholar 

  • Beverly S., Moore A., Schreiner M. (2001), A framework of asset-accumulation stages and strategies, Center for Social Development, Washington University in Saint Louis, Working Paper 01-1.

    Google Scholar 

  • Beverly S., Romich J.L., Tescher J. (2003), Linking Tax Refunds and Low-cost Bank Accounts: A social development strategy for Low Income Families?, Center for Social Development, Washington University in Saint Louis, October.

    Google Scholar 

  • Beverly S., Schneider D., Tufano P. (2005), Splitting Tax Refunds and Building Savings: An Empirical Test, HBS Finance Working Paper Series, August.

    Google Scholar 

  • Beverly S., Sherraden M. (1999), Institutional Determinants of Savings: Implications for Low-Income Households and Public Policy, Journal of Socio-Economics, vol. 28.

    Google Scholar 

  • Boshara R. (2003), American Stakeholder Accounts, New America Foundation, Issue Brief, June.

    Google Scholar 

  • Boshara R., Sherraden M. (2004), Status of Asset Building Worldwide, New America Foundation.

    Google Scholar 

  • Caskey J.P. (2002), Bringing Unbanked Households Into the Banking Systems, The Brookings Institutions, Center of Urban and Metropolitan Policy, January.

    Google Scholar 

  • CFED (2003), A Look at the Growing Individual Development Account Field-Results from the 2003 Survey of IDA Programs.

    Google Scholar 

  • CFED (2005), Assets Newsletter, 1.

    Google Scholar 

  • CFSI (2005), Breaking the Savings Barrier: How the Federal Government Can Build an Inclusive Financial System, February.

    Google Scholar 

  • Cheng L. (2003), Developing Family Development Accounts. Policy Innovation from Income to Assets, Center for Social Development, Washington University in Saint Louis.

    Google Scholar 

  • Clancy M., Grinsten-Weiss M., Schreiner M. (2001), Financial Education and Savings Outcomes in Individual Development Accounts, Center for Social Development, University of Washington in Saint Louis, June.

    Google Scholar 

  • Cramer R. (2004), Net Worth at birth: Creating a National System of Savings and Asset Building with American Stakeholder Accounts, New America Foundation.

    Google Scholar 

  • Cramer R., Parrish L. Boshara R. (2005), 2005 Federal Asset Policy Report and Outlook, New America Foundation, March.

    Google Scholar 

  • Emmerson C. Wakefield M. (2001), The Saving Gateway and The Child Trust Fund: Is Asset-Based Welfare “Well Fair”?, The Institute for Fiscal Studies, October.

    Google Scholar 

  • Federal Reserve Bank of San Francisco (2005), Community Investments — Special issue on building assets, May.

    Google Scholar 

  • Friedman M. (1957), A Theory of the consumption function, Princeton.

    Google Scholar 

  • Glen H., Skinner J. (1996), Assessing the effectiveness of saving incentives, Journal of Economic Perspectives.

    Google Scholar 

  • H.M. Treasury (2003), Details of the Child Trust Fund, London.

    Google Scholar 

  • Hubbard R.G., Skinner J., Zeldes S.P. (1995), Precautionary Saving and Social Insurance, Journal of Political Economy.

    Google Scholar 

  • Hurst E, Luoh M.C., Stafford F.P.(1998), The Wealth Dynamics of American Families, 1984-94, Brookings Papers of Economic Activity.

    Google Scholar 

  • Katona G. (1975), Psychological Economics, New York.

    Google Scholar 

  • Kempson E., McKay S., Collard S. (2005), Incentives to save: Encouraging saving among low-income households, Personal Finance Research Centre, University of Bristol, March.

    Google Scholar 

  • Kempson E., Whyley C. (1999), Kept out or opted out? Understanding and combating financial exclusion, Bristol, Policy Press.

    Google Scholar 

  • Kober C., Paxton W. (2002), Asset-Based Welfare and Poverty-Exploring the Case for and against Asset-Based Welfare Policies, www.ecpc.org.uk

    Google Scholar 

  • Loke V., Clancy M. (2005), Participants in SEED: A report from Account Monitoring Research, Center for Social Development, Washington University in Saint Louis, November.

    Google Scholar 

  • Maital S., Maital S. (1994), Is the Future What it Used to be? A Behavioral Theory of the Decline of Saving in the West, Journal of Socio-Economics, vol. 23.

    Google Scholar 

  • Marshall J.N. (2004), Financial Institutions in disadvantaged areas: a comparative analysis of polices encouraging financial inclusion in Britain and The United States, Environment and Planning.

    Google Scholar 

  • Midgely J. (1999), Growth, Redistribution and Welfare: Towards Social Investment, Social Services Review, 77.

    Google Scholar 

  • Mills G., Gale W.G., Patterson R. (2005), Effects of Individual Development Accounts on Household Saving Behavior: Evidence from a Controlled Experiment, http://elsa.berkeley.edu, April.

    Google Scholar 

  • Mills G., Patterson R., Orr L., DeMarco D. (2004), Evaluation of the American Dream Demonstration — Final Evaluation Report, www.abtassociates.com, August.

    Google Scholar 

  • Modigliani F., A.K. Ando (1957), Tests of the Life Cycle Hypothesis of Savings, Bulletin of the Oxford Institute of Statistics, vol. 19.

    Google Scholar 

  • Narayan S. (2001), Individual Development Accounts: A Social Insurance Perspective, Kennedy School Review.

    Google Scholar 

  • OCC (2005), Individual Development Accounts: An Asset Building Product for Lower-Income Consumers, www.occ.treas.gov, February.

    Google Scholar 

  • OECD (2003), Asset Building and the Escape from Poverty: a new Welfare Policy Debate, www.oecd.org

    Google Scholar 

  • Oliver M., Shapiro T.M. (1990), Wealth of a Nation: A reassessment of Asset Inequality in America Shows At Least One Third of Households are Asset-Poor, The American Journal of Economics and Sociology, vol. 49.

    Google Scholar 

  • Oliver M. (1995), Shapiro T.M., Black Wealth/ White Wealth: A New Perspective on Racial Inequality, New York, Routledge.

    Google Scholar 

  • Page-Adams D. (2002), Design, Implementation, and Administration of Individual Development Account Programs, Center for Social Development, Washington University in Saint Louis.

    Google Scholar 

  • Parrish L. (2005), To save, or not to save? Reforming asset limits in public assistance programs to encourage low-income Americans to save and build assets, New America Foundation, Issue Brief, May.

    Google Scholar 

  • Ray D. (1998), Development Economics, Princeton University Press.

    Google Scholar 

  • Schreiner M. (2004), Asset-Building for Microenterprise through Matched Savings in Low-Income Countries, Center for Social Development, Washington University in Saint Louis, December.

    Google Scholar 

  • Schreiner M. (2004), Match rates, Individual Development Accounts, and Saving by the Poor, Center of Social Development, Washington University in Saint Louis, October.

    Google Scholar 

  • Schreiner M., Beverly S. (2003), Income and Saving Performance in Individual Development Accounts, Economic Development Quarterly, vol. 17 No. 1.

    Google Scholar 

  • Schreiner M., Clancy M., Sherraden M. (2002), Saving Performance in the American Dream Demonstration, Final Report, Center for Social Development, University of Washington in Saint Louis, October.

    Google Scholar 

  • Schreiner M., Guat T.N., Sherraden M. (2004), Cost-Effectiveness in Individual Development Accounts, Center for Social Development, Washington University in Saint Louis.

    Google Scholar 

  • Schreiner M., Sherraden M. (2005), Drop-Out from Individual Development Accounts: Prediction and Prevention, Center for Social Development, Washington University in Saint Louis, March.

    Google Scholar 

  • SEDI (2004), Savings and Asset-Based Policy in the UK, www.sedi.org, February.

    Google Scholar 

  • Seidman E., Tescher J. (2004), From Unbanked to Homeowner: Improving the Supply of Financial Services for Low-Income, Low-Asset Customers, Joint Center for Housing Studies Working Paper Series, February.

    Google Scholar 

  • Shapiro T.M., Wolff E.N. (2001), Assets for the Poor: The Benefits of Spreading Asset Ownership, New York, Russell Sage.

    Google Scholar 

  • Shefrin H.M, Thaler R.H. (1992), Mental Accounting, Saving, and Self Control, in G. Loewenstein and J. Elster eds.: Choice Over Time, (Sage Foundation, New York).

    Google Scholar 

  • Sherraden M. (2005), Inclusion in Asset Building, Testimony Senate Finance Committed, www.senate.gov, April.

    Google Scholar 

  • Sherraden M. (2002), Individual Development Accounts: Summary of Research, Center for Social Development, Research Report, September.

    Google Scholar 

  • Sherraden M. (1988), Rethinking Social Welfare: Toward Assets, Social Policy, vol. 18.

    Google Scholar 

  • Sherraden M. (1991), Assets and the Poor: A New American Welfare Policy (M. E. Sharpe, Armonk, N.Y.).

    Google Scholar 

  • Sherraden M., Schreiner M., Beverly S. (2002), Income, Institutions, and Saving Performance in Individual Development Accounts, Center for Social Development, University of Washington in Saint Louis, working paper 02-3, January.

    Google Scholar 

  • Stegman M.A., Faris R., Gonzalez O.U. (2000), The Impacts of IDA Programs on Family Savings and Asset Holdings, Center for Social Development, Washington University in Saint Louis, working paper 00-14.

    Google Scholar 

  • Stegman M.A., Kim P.H. (2004), Legitimizing Individual Development Accounts (IDA) Within Financial Institutions, www.cfed.org, August.

    Google Scholar 

  • Stuhldreher A. (2004), Tax Time: The Right Time: Federal Policy Recommendations to Help all Americans Save and Build Assets, New America Foundation, Issue Brief, December.

    Google Scholar 

  • Thaler R. H. (1990), Saving, fungibility and mental accounts, Journal of Economic Perspectives, 4(1).

    Google Scholar 

  • Thaler R. H. (1994), Psycology and savings policies, American Economic Review, 84(2).

    Google Scholar 

  • Thaler R. H., Benartzi S. (2004), Save More Tomorrow (TM): Using behavioral economics to increase employed saving, The Journal of Political Economy, 112(1).

    Google Scholar 

  • Thaler R.H. (1981), Shefrin H.M., An Economic Theory of Self-Control, Journal of Political Economy, vol. 89, No. 2.

    Google Scholar 

  • Todaro M., Smith S. (2003), Economic Development, Longman.

    Google Scholar 

  • Tufano P., Schneider D. (2005), Reinventing Savings Bonds: a modest proposal, HBS Working Paper, September.

    Google Scholar 

  • Zdenek R.O., Stein B. (2003), “Recommendations from the Field: Individual Development Accounts as Part of a Universal Asset-Building System”, Center for Social Development, Washington University in Saint Louis.

    Google Scholar 

  • Ziliak J.P. (2003), “Income Transfers and Assets of the Poor”, Review of Economics and Statistics, Vol. 85, No. 1.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2007 Springer-Verlag Berlin Heidelberg

About this chapter

Cite this chapter

Braga, M.D. (2007). Access to Investments and Asset Building for Low Income People. In: Anderloni, L., Braga, M.D., Carluccio, E.M. (eds) New Frontiers in Banking Services. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-46498-3_4

Download citation

Publish with us

Policies and ethics