The global pattern of household wealth

James B. Davies; Susanna Sandström; Anthony Shorrocks; Edward Wolff

doi:10.1002/jid.1648

The global pattern of household wealth

James B. Davies, Susanna Sandström, Anthony Shorrocks, Edward Wolff

Research output: Contribution to journal › Article › peer-review

Abstract

We provide the first estimate of the level and distribution of global household wealth. The level of assets and debts for 39 countries are measured using household balance sheet and survey data centred on the year 2000. Average wealth holdings are imputed to countries lacking direct evidence. Microdata on household wealth distribution are assembled for 20 countries. Wealth inequality is imputed to other countries from the observed relation between wealth and income distribution in these countries. We find that the top 10 per cent owned 85 per cent of world wealth, and the Gini coefficient was 0.893, greater than that for the global distribution of income.

Original language	English (US)
Pages (from-to)	1111-1124
Number of pages	14
Journal	Journal of International Development
Volume	21
Issue number	8
DOIs	https://doi.org/10.1002/jid.1648
State	Published - Nov 2009

Keywords

Balance sheets
Households
Inequality
Net worth
Personal assets
Portfolios
Wealth

ASJC Scopus subject areas

Geography, Planning and Development
Development

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10.1002/jid.1648

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AB - We provide the first estimate of the level and distribution of global household wealth. The level of assets and debts for 39 countries are measured using household balance sheet and survey data centred on the year 2000. Average wealth holdings are imputed to countries lacking direct evidence. Microdata on household wealth distribution are assembled for 20 countries. Wealth inequality is imputed to other countries from the observed relation between wealth and income distribution in these countries. We find that the top 10 per cent owned 85 per cent of world wealth, and the Gini coefficient was 0.893, greater than that for the global distribution of income.

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KW - Inequality

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KW - Personal assets

KW - Portfolios

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The global pattern of household wealth

Abstract

Keywords

ASJC Scopus subject areas

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