Personal Wealth from a Global Perspective

by James B. Davies (Editor)

Overview

There is great media fascination in the activities and lifestyles of the super-rich. But personal wealth is also important for those of more modest means as a store of potential consumption, as a cushion against emergencies, and as collateral for business and investment loans. This book is the first global study of household assets and debts. It documents not only the level, distribution, and trend of wealth holdings in rich nations, but also addresses developing countries like China and India. The situation in Latin America and Africa is given attention along with the experiences of Russia and other transition countries. Components of household wealth like financial assets, land, and property are examined, as well as the gender division. Worldwide, it is estimated that the richest 2% own more than half of total global wealth, and that this elite group resides almost exclusively in North America, Western Europe, and rich Asia-Pacific countries.

Product Details

ISBN-13:	9780199548880
Publisher:	Oxford University Press
Publication date:	01/15/2009
Series:	WIDER Studies in Development Economics
Pages:	496
Product dimensions:	6.30(w) x 9.30(h) x 1.30(d)

About the Author

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 articles in academic journals and scholarly volumes. He has advised the Ontario and Canadian governments as well as the World Bank. Currently the managing editor of Canadian Public Policy, Davies has served for the last three years as director of the UNU-WIDER research project Personal Assets from a Global Perspective.

Table of Contents

1. An Overview of Personal Wealth, James B. DaviesPart I: The Rich and the Super-Rich2. Survey Estimates of Wealth Holdings in OECD Countries: Evidence on the Level and Distribution across Selected Countries, Markus Jäntti and Eva Sierminska3. Long-Run Changes in the Concentration of Wealth: An Overview of Recent Findings, Henry Ohlsson, Jesper Roine, and Daniel Waldenström4. Concentration among the Rich, Anthony B. AtkinsonPart II: Wealth Holdings in the Developing World and Transition Countries5. Changes in the Distribution of Wealth in China, 1995-2002, Shi Li and Renwei Zhao6. The Distribution of Household Wealth in India, S. Subramanian and D. Jayaraj7. The Evolution of Personal Wealth in the Former Soviet Union and Central and Eastern Europe, Sergei Guriev and Andrei Rachinsky8. Household Wealth in Latin America, Florencia Torche and Seymour Spilerman9. Land Reform and Land Holdings in Brazil, Juliano Assunção10. Estimating the Balance Sheet of the Personal Sector in an Emerging Market Country: South Africa, 1975-2003, Janine Aron, John Muellbauer, and Johan Prinsloo11. Asset Portfolios in Africa: Evidence from Rural Ethiopia, Christian Rogg12. Marketable Wealth in a Poor African Country: Using an Index of Consumer Durables to Investigate Wealth Accumulation by Households in Ghana, Ronelle Burger, Frikkie Booysen, Servaas van der Berg, and Michael von MaltitzPart III: The Role of Personal Assets in Economic Development and Performance13. Household Financial Assets in the Process of Development, Patrick Honohan14. Housing and Personal Wealth in a Global Context, John Muellbauer15. Housing Privatization and Household Wealth in Transition, Ruslan Yemtsov16. Land Titles, Credit Markets, and Wealth Distribution, James C. MacGee17. Gender and the Distribution of Wealth in Developing Countries, Carmen Diana Deere and Cheryl R. Doss18. The Informal Sector in Developing Countries: Output, Assets, and Employment, Sangeeta Pratap and Erwan QuintinPart IV: Who Owns the World?19. The World Distribution of Household Wealth, James B. Davies, Susanna Sandström, Anthony Shorrocks, and Edward N. Wolff