The Impact of the Hope Growing Account Program on Participants’ Household Earned Income in South Korea

33 Pages Posted: 2 Apr 2016 Last revised: 5 Apr 2016

See all articles by Soyoon Weon

Soyoon Weon

McGill University - School of Social Work

David Rothwell

Oregon State University - School of Social and Behavioral Health Sciences; McGill University - School of Social Work

Date Written: March 31, 2016

Abstract

In 2010, the Korean government introduced the Hope Growing Account (Hope) program. Hope combines elements of its social assistance scheme (monthly income grant) with matched funds for saving to encourage the working poor to increase income and build assets. This longitudinal study estimated changes in earned income among 1,045 low-income households who participated in Hope between 2010 and 2012. The adjusted difference-in-differences estimation showed that participants’ average change in household monthly earned income was $168 higher than non-participants’. Our findings suggest that participation in asset-building programs such as Hope may promote economic benefits beyond savings.

Keywords: asset-based policy, working poor, household earned income, poverty, Korea, welfare policy

Suggested Citation

Weon, Soyoon and Rothwell, David, The Impact of the Hope Growing Account Program on Participants’ Household Earned Income in South Korea (March 31, 2016). Available at SSRN: https://ssrn.com/abstract=2757141

Soyoon Weon (Contact Author)

McGill University - School of Social Work ( email )

3506 University Street, Suite 300
Montreal, Quebec
Canada

David Rothwell

Oregon State University - School of Social and Behavioral Health Sciences ( email )

Corvallis, OR
United States

HOME PAGE: http://health.oregonstate.edu/people/rothwell-david

McGill University - School of Social Work ( email )

3506 University Street, Suite 300
Montreal, Quebec
Canada

HOME PAGE: http://www.mcgill.ca/socialdevelopment

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