Level and Distribution of Global Household Wealth

The level of average household wealth in all countries is estimated via the determinants of assets and debts for 39 countries which have balance sheet or survey data. The distribution of wealth in all countries is inferred from information on the pattern of wealth ownership for 20 countries (coverin...

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Bibliographic Details
Published in:The Economic journal (London) 2011-03, Vol.121 (551), p.223-254
Main Authors: Davies, James B., Sandström, Susanna, Shorrocks, Anthony, Wolff, Edward N.
Format: Article
Language:English
Subjects:
Balance sheets
Distribution of wealth
Economic indicators
Economic inequality
Financial assets
Gini coefficient
Household expenditure
Household income
Household wealth
Households
Income distribution
Income inequality
Manycountries
National income
Purchasing power parity
Studies
Survey data
Wealth
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Summary:The level of average household wealth in all countries is estimated via the determinants of assets and debts for 39 countries which have balance sheet or survey data. The distribution of wealth in all countries is inferred from information on the pattern of wealth ownership for 20 countries (covering 59% of world population). Combining the level and distribution figures suggests that median global wealth was PPP$8,635 in the year 2000, and that PPP$518,361 was needed to belong to the top percentile. The top decile owned 71% of world wealth and the global Gini value was 0.802.
ISSN:0013-0133
1468-0297
DOI:10.1111/j.1468-0297.2010.02391.x