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Youth and savings in AssetsAfrica

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  • Chowa, Gina
  • Ansong, David

Abstract

As youth transition to adulthood, their ability to save and accumulate assets becomes very important as they begin to accept financial responsibilities and plan for the future. In this paper, we investigated the effects of an asset building intervention on youth asset accumulation in Masindi, a rural area in Uganda. Two waves of data were collected on youth, between 15 and 35Â years of age, for both the treatment and comparison groups. We used a Propensity Score Matching (PSM) technique and Difference-in-Difference model to estimate the effects of the asset building intervention. We find that the mean difference in financial assets ($763.17), total wealth ($897.75) and net-worth ($1117.83) are statistically significant in favor of the youth in the treatment group. However, the mean difference in productive assets ($3.77) is not statistically significant. The results show that youth in rural Sub-Saharan Africa (SSA) are able to accumulate substantial assets that may well contribute to their well-being in the long-term.

Suggested Citation

  • Chowa, Gina & Ansong, David, 2010. "Youth and savings in AssetsAfrica," Children and Youth Services Review, Elsevier, vol. 32(11), pages 1591-1596, November.
    • Handle: RePEc:eee:cysrev:v:32:y:2010:i:11:p:1591-1596
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    1. repec:bla:obuest:v:63:y:2001:i:1:p:115-43 is not listed on IDEAS
    2. Sherraden, Margaret S. & Johnson, Lissa & Elliott III, William & Porterfield, Shirley & Rainford, William, 2007. "School-based children's saving accounts for college: The I Can Save program," Children and Youth Services Review, Elsevier, vol. 29(3), pages 294-312, March.
    3. Bernheim, B. Douglas & Garrett, Daniel M. & Maki, Dean M., 2001. "Education and saving:: The long-term effects of high school financial curriculum mandates," Journal of Public Economics, Elsevier, vol. 80(3), pages 435-465, June.
    4. Marco Caliendo & Sabine Kopeinig, 2008. "Some Practical Guidance For The Implementation Of Propensity Score Matching," Journal of Economic Surveys, Wiley Blackwell, vol. 22(1), pages 31-72, February.
    5. Arild Aakvik, 2001. "Bounding a Matching Estimator: The Case of a Norwegian Training Program," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 63(1), pages 115-143, February.
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    1. Mathieu R. Despard & Gina A. N. Chowa, 2014. "Testing a Measurement Model of Financial Capability Among Youth in Ghana," Journal of Consumer Affairs, Wiley Blackwell, vol. 48(2), pages 301-322, June.
    2. Felicia Kolekang & Kwasi Awuah-Werekoh & Augustine Adomah-Afari, 2019. "Influence of Job Related Factors on Encouraging Savings for Health Care towards Old Age among Nurses in a Municipality, Ghana," International Journal of Social and Administrative Sciences, Asian Economic and Social Society, vol. 4(1), pages 14-30, March.

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