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KMID : 1124020090250040307
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Korean Social Security Studies
2009 Volume.25 No. 4 p.307 ~ p.335
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A Study on Asset-based Policy for Child Development
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Choi Young
Lee Yong-Woo
Lee Eun-Joo
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Abstract
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Recently, many Western industrialized countries are seeking for changes in the paradigm for child welfare policy, which is characterized by the social investment strategy, for the purpose of addressing children’s social exclusion and securing equal opportunities for them. Responding to this new trend, Korea also introduced and has implemented Child Development Account (CDA) since April, 2007, which aims to help economically vulnerable children accumulate assets that would be utilized as seed money for their beginning stage of the adulthood, and thereby prevent transmission of poverty over generations. This study comparatively analyzed cases of the UK, Canada, and Singapore that have implemented asset-based policies for children earlier than has Korea, with a focus on the intention of the policy introduction, range of the eligible children, forms of subsidies, restrictions of the accumulated funds, and administrative system. Based upon the results, it concluded with policy implications for Child Development Accounts in Korea.
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KEYWORD
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Child Development Account, CDA, Social investment strategy, Asset-based policy for children
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