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Wealth at Birth and its Effect on Child Academic Achievement and Behavioral Problems

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  • Luis F. Faundez
  • Robert Kaestner

Abstract

In this article, we examine the association between family wealth and academic achievement and socioemotional behaviors of children ages 5 to 12. We examine whether wealth prior to birth and at ages 4 or 5 affects academic test scores and behavioral problems during two periods of childhood, ages 5 to 8 and ages 9 to 12, for a large and relatively recent cohort of children. We also examine associations between different forms of wealth (e.g., home equity) and child achievement and behaviors. Finally, we assess whether wealth prior to birth mediates racial/ethnic disparities in child achievement and disparities in achievement by maternal education/ability (AFQT). Results of our analysis indicate that wealth, particularly financial wealth that is the most liquid, has a modest positive association with achievement test scores. We also find that wealth is associated with fewer behavioral problems, but these results are less robust.

Suggested Citation

  • Luis F. Faundez & Robert Kaestner, 2024. "Wealth at Birth and its Effect on Child Academic Achievement and Behavioral Problems," NBER Working Papers 32628, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:32628
    Note: CH ED LS PE
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    More about this item

    JEL classification:

    • H40 - Public Economics - - Publicly Provided Goods - - - General
    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General

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