Why are lower-income parents less likely to open an RESP account? : the roles of literacy, education and wealth / by Aneta Bonikowska and Marc Frenette. : CS11-0019/449E-PDF
"The Government of Canada offers various financial incentives for parents to save for their children's postsecondary education by contributing to a Registered Education Savings Plan (RESP). However, RESP participation rates tend to rise substantially with family income, and previous research has demonstrated that family wealth was the single most important reason for this trend (among factors that could be examined). This study explores whether differences in parental literacy, numeracy and financial literacy can further account for some of the gap in RESP participation by level of family income. The results suggest that differences in wealth (which may also reflect differences in unobserved characteristics correlated with wealth) remain the single most important factor behind the gap in RESP participation by family income, even after accounting for differences in parental levels of education and literacy, numeracy and financial literacy. In fact, differences in wealth accounted for 50% to 79% of the total gap in RESP participation between families in the top and bottom income quartiles, depending on the method and dataset used. Differences in financial literacy accounted for a moderate share of the RESP participation gap (between 13% and 19%), while differences in literacy and numeracy played smaller, statistically insignificant roles"--Abstract, page 5.
Lien permanent pour cette publication :
publications.gc.ca/pub?id=9.888536&sl=1
| Ministère/Organisme | Statistics Canada. Analytical Studies Branch, issuing body. |
|---|---|
| Titre | Why are lower-income parents less likely to open an RESP account? : the roles of literacy, education and wealth / by Aneta Bonikowska and Marc Frenette. |
| Titre de la série | Analytical Studies Branch research paper series, 1205-9153 ; no. 449 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Autres langues publiées | [Français] |
| Format | Électronique |
| Document électronique | |
| Note(s) | Issued also in French under title: Pourquoi les parents à faible revenu sont-ils moins susceptibles d'ouvrir un compte de REEE? Les rôles de la littératie, de l'éducation et du patrimoine financier. "11F0019M No. 449." "2020012." "July 2020." Issued also in HTML format. Includes bibliographical references (pages 35-36). |
| Information sur la publication | [Ottawa] : Statistics Canada = Statistique Canada, 2020. ©2020 |
| Auteur / Contributeur | Bonikowska, Aneta, author. |
| Description | 1 online resource (36 pages) : colour illustrations. |
| ISBN | 9780660353333 |
| Numéro de catalogue |
|
| Numéro de catalogue du ministère | 11F0019M |
| Descripteurs | Low income parents -- Canada -- Finance, Personal -- Statistics. Financial literacy -- Canada -- Statistics. Income -- Canada -- Statistics. Education savings accounts -- Canada -- Statistics. |
Demander des formats alternatifs
Pour demander une publication dans un format alternatif, remplissez le formulaire électronique des publications du gouvernement du Canada. Utilisez le champ du formulaire «question ou commentaire» pour spécifier la publication demandée.- Date de modification :