Jin Huang|Yunju Nam|Margaret S. Sherraden
Financial Knowledge and Child Development Account Policy: A Test of Financial Capability
study examines study participants financial knowledge participation child development account intervention affects 529 college savings plan account holding among caregivers infants study uses data seed oklahoma kids n 2651 statewide randomized experiment using probability sample infants selected birth records results logit regression show participants financial knowledge positively related account holding treatment group control group interactive effects financial knowledge treatment status statistically significant finding implies effect financial knowledge financial decisions related college savings moderated institutional features incentives information access results study support propositions financial capability suggest expanding financial capability requires improved individual financial knowledge supportive policy