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Wealth Distribution, the Financial Crisis and Entrepreneurship

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  • Naude, Wim
  • MacGee, James

Abstract

Globally, wealth is very unequally distributed, both within countries and between countries. The UNUWIDER project on Personal Assets from a Global Perspective has found for instance that the richest 10 percent of adults in the world own 85 percent of global household wealth. Of these individuals, almost half live in the US and Japan. The common measure of inequality, the Gini.coefficient, ranges between 0.65 to 0.75 for the distribution of within country wealth. Another feature of the distribution of wealth is that the rich (advanced countries) hold greater proportions of wealth in financial assets than poorer or middle income households (countries) where wealth is predominantly held in real assets such as land, houses and farm assets (see the article by Davies, Sandström, Shorrocks and Wolff in the WIDER Angle 2006. 2 (1.4 megabytes).

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Bibliographic Info

Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Paper Series with number WIDER Angle newsletter March 2009.

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Length: 4
Date of creation: 2009
Date of revision:
Handle: RePEc:unu:wpaper:angle-feb-2009-b

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Cited by:
  1. Gries, Thomas & Naude, Wim, 2010. "Entrepreneurship, Structural Change and a Global Economic Crisis," Working Paper Series wp2010-57, World Institute for Development Economic Research (UNU-WIDER).
  2. Wim Naudé, 2011. "The Global Financial Crisis and Development: Implications for the Entrepreneurial Economy," Working Papers 2011/01, Maastricht School of Management.

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