CDAs, typically opened for young children to promote asset accumulation, have been shown to have positive impacts on multiple household outcomes, including parental educational expectations and children's social-emotional development. They also have the potential to promote children's asset ownership and economic mobility in the future. Studies indicate that CDAs are related to enhanced family well-being: they improve parental expectations about children's college attendance, lower depressive symptoms among parents, increase the amount in college-specific savings accounts, reduce the level of punitive parenting, and increase the social-emotional development of children.
This session presents four CDA policy examples in the United States, Kazakhstan, Taiwan, and Mainland China. Built on a CDA policy model including ten design features, the first study uses a longitudinal experimental design to examine the impacts of CDAs for families' financial well-being in the United States. The second study describes the newly-launched universal CDAs in Kazakhstan, which will automatically open accounts for all children at birth and allocate 50% of the National Fund's annual investment income for children. The third study reports on the implementation and research development of CDAs in Taiwan, a policy initiated in 2017 targeting all low-income children. Finally, the last study explores designing and developing CDAs using insurance products for children with disabilities in China to support their healthcare and long-term economic security. These studies present the latest policy and research findings in CDAs and will have important implications for global CDA development.