Personal Wealth from a Global Perspective

Paperback | November 15, 2008

EditorJames B. Davies

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This book provides the first study of personal wealth from a global viewpoint. Previous international studies of wealth have focused on the rich countries. Here, the transition countries, emerging economies, and the developing world are examined too. The book looks at wealth inequality andasset composition around the world, showing how these are affected by history, institutions, gender, and incomes. There is a dramatic contrast between rich countries where financial assets are so important and poor countries where farm assets and land still dominate. The book shows that wealthinequality within countries is far higher than that of income, and has been rising recently, most notably in Russia, China, and other transition countries. Concentration among the rich and super-rich has also increased. Worldwide, the top 2% have about 50% of personal wealth, and the top 10% have85%. In contrast, the bottom half has just 1%. Poor countries are even poorer in wealth than in income terms. But these are just the countries where life is most insecure and personal assets are most needed. The book concludes that steps must be taken to break down barriers and help the poor andmiddle class in low income countries build up their personal assets to overcome their wealth disadvantage.

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This book provides the first study of personal wealth from a global viewpoint. Previous international studies of wealth have focused on the rich countries. Here, the transition countries, emerging economies, and the developing world are examined too. The book looks at wealth inequality andasset composition around the world, showing how...

James B. Davies received his BA from the University of Manitoba (1973) and his Ph.D. from the London School of Economics (1979). A faculty member at the University of Western Ontario in London, Canada, since 1977, he served as Chair of the Department of Economics from 1992 to 2001. Davies is the author of two books and numerous articl...

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Format:PaperbackDimensions:520 pages, 9.21 × 6.14 × 1.06 inPublished:November 15, 2008Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199548897

ISBN - 13:9780199548897

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Table of Contents

1. James B. Davies: An Overview of Personal WealthPart I: The Rich and the Super-Rich2. Markus Jantti and Eva Sierminska: Survey Estimates of Wealth Holdings in OECD Countries: Evidence on the Level and Distribution across Selected Countries3. Henry Ohlsson, Jesper Roine, and Daniel Waldenstrom: Long-Run Changes in the Concentration of Wealth: An Overview of Recent Findings4. Anthony B. Atkinson: Concentration among the RichPart II: Wealth Holdings in the Developing World and Transition Countries5. Shi Li and Renwei Zhao: Changes in the Distribution of Wealth in China, 1995-20026. S. Subramanian and D. Jayaraj: The Distribution of Household Wealth in India7. Sergei Guriev and Andrei Rachinsky: The Evolution of Personal Wealth in the Former Soviet Union and Central and Eastern Europe8. Florencia Torche and Seymour Spilerman: Household Wealth in Latin America9. Juliano Assuncao: Land Reform and Land Holdings in Brazil10. Janine Aron, John Muellbauer, and Johan Prinsloo: Estimating the Balance Sheet of the Personal Sector in an Emerging Market Country: South Africa, 1975-200311. Christian Rogg: Asset Portfolios in Africa: Evidence from Rural Ethiopia12. Ronelle Burger, Frikkie Booysen, Servaas van der Berg, and Michael von Maltitz: Marketable Wealth in a Poor African Country: Using an Index of Consumer Durables to Investigate Wealth Accumulation by Households in GhanaPart III: The Role of Personal Assets in Economic Development and Performance13. Patrick Honohan: Household Financial Assets in the Process of Development14. John Muellbauer: Housing and Personal Wealth in a Global Context15. Ruslan Yemtsov: Housing Privatization and Household Wealth in Transition16. James C. MacGee: Land Titles, Credit Markets, and Wealth Distribution17. Carmen Diana Deere and Cheryl R. Doss: Gender and the Distribution of Wealth in Developing Countries18. Sangeeta Pratap and Erwan Quintin: The Informal Sector in Developing Countries: Output, Assets, and EmploymentPart IV: Who Owns the World?19. James B. Davies, Susanna Sandstrom, Anthony Shorrocks, and Edward N. Wolff: The World Distribution of Household Wealth