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Global inequality recalculated: The effect of new 2005 PPP estimates on global inequality

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  • Milanovic, Branko

Abstract

The results of new direct price level comparisons across 146 countries in 2005 have led to large revisions of PPP (purchasing power parity) exchanges rates, particularly for China and India. The recalculation of international and global inequalities, using the new PPPs, shows that inequalities are substantially higher than previously thought. Inequality between global citizens is estimated at 70 Gini points rather than 65 as before. The richest decile receives 57 percent of global income rather than 50 percent.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 16538.

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Date of creation: 30 Jul 2009
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Handle: RePEc:pra:mprapa:16538

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Keywords: Global inequality; Purchasing power parity;

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  1. Sanjay G. Reddy & Camelia Minoiu, 2005. "Real Income Stagnation of Countries, 1960-2001," Development and Comp Systems 0509004, EconWPA.
  2. Lant Pritchett, 1997. "Divergence, Big Time," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 3-17, Summer.
  3. Milanovic, Branko, 2007. "An even higher global inequality than previously thought," MPRA Paper 6676, University Library of Munich, Germany.
  4. Angus Deaton, 2004. "Measuring poverty in a growing world (or measuring growth in a poor world)," Working Papers 178, Princeton University, Woodrow Wilson School of Public and International Affairs, Research Program in Development Studies..
  5. Shaohua Chen & Martin Ravallion, 2010. "The Developing World Is Poorer Than We Thought, but No Less Successful in the Fight Against Poverty," The Quarterly Journal of Economics, MIT Press, vol. 125(4), pages 1577-1625, November.
  6. Sudhir Anand & Paul Segal, 2008. "What Do We Know about Global Income Inequality?," Journal of Economic Literature, American Economic Association, vol. 46(1), pages 57-94, March.
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Cited by:
  1. Yin-Wong Cheung & Eiji Fujii, 2011. "Exchange Rate Misalingment Estimates - Sources of Differences," CESifo Working Paper Series 3555, CESifo Group Munich.
  2. Popov, Vladimir, 2010. "Development theories and development experience: half a century journey," MPRA Paper 28111, University Library of Munich, Germany.

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