Journal Articles

Does Individual Development Account Participation Help the Poor? A Review

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Objectives: The purpose of this study is to review the current empirical research regarding the financial effects of participation in Individual Development Account (IDA) programs. Methods: Peer-reviewed outcome studies identified through electronic bibliographic databases and manual searches of article reference lists are reviewed. A total of 1 randomized controlled trial, 1 quasi-experimental study involving a comparison group, and 13 preexperimental 1-group pretest—posttest studies, were found. Results: Findings suggest IDA participants are capable of saving; however, total amount of savings is limited and may simply represent a reallocation of assets. Additionally, there is little evidence that the poor are enabled to achieve one of the three primary purposes of IDA programs (e.g., home ownership, postsecondary education, and microenterprise). Conclusion: It is premature to conclude that IDAs are an effective means of assisting low-income individuals in the development of assets. A stronger evidentiary foundation is needed, consisting of randomized controlled trials and cost-effectiveness and cost—benefit studies.

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Detail Information

Series Title

Research on Social Work Practice

Call Number

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Publisher

Thousand Oak : sage publisher., 2011

Collation

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Language

English

ISBN/ISSN

10497315

Classification

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Content Type

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Media Type

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Carrier Type

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Edition

Vol. 21 no. 3, May 2011.pp. 348-362

Subject(s)

Assets
Individual development accounts
Low-income

Specific Detail Info

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Statement of Responsibility

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