Overview of Child Development Accounts in Developing Countries
Child Development Accounts (CDAs) as a matter of policy have existed for some time, though predominantly in developed countries. While there are at least a few government social programs with CDA components in the developing world, such policies have yet to gain significant traction. This paper finds that despite this lack of policy movement, CDAs do exist in developing countries in a variety of forms and delivered by a diverse group of institutions. Government-linked institutions (such as savings and post banks); non-governmental institutions (such as credit unions and NGOs); and commercial financial institutions are all innovating in CDA design and delivery. This paper offers a review of how CDAs exist in developing countries, including the types of institutions offering CDAs, and design features and delivery mechanisms common among such accounts. The paper concludes with implications of this analysis for policymakers and researchers.