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Marketable Wealth in a Poor African Country

Author

Listed:
  • Burger, Ronelle
  • Booysen, Frikkie
  • Berg, Servaas van der
  • Maltitz, Michael von

Abstract

The study uses an asset index of consumer durables to track changes in household wealth in Ghana during the recent period of strong growth. Using the Ghana Living Standards Survey of 1998 that contains both wealth data and consumer durable data, the authors demonstrate that the asset index approximate marketable wealth adequately. Although asset index estimates of wealth cannot match the precision of wealth surveys,this approach can provide useful information on marketable wealth in countries where more appropriate sources are not available. The asset index analysis with the three demographic and health surveys for 1993, 1998 and 2003 suggests that the solid economic growth seen over this period has been accompanied by a strong rise in the average asset index scores.

Suggested Citation

  • Burger, Ronelle & Booysen, Frikkie & Berg, Servaas van der & Maltitz, Michael von, 2006. "Marketable Wealth in a Poor African Country," MPRA Paper 9063, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:9063
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    File URL: https://mpra.ub.uni-muenchen.de/9063/1/MPRA_paper_9063.pdf
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    References listed on IDEAS

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    1. Jan Willem Gunning & Paul Collier, 1999. "Explaining African Economic Performance," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 64-111, March.
    2. Sahn, David E. & Stifel, David C., 2000. "Poverty Comparisons Over Time and Across Countries in Africa," World Development, Elsevier, vol. 28(12), pages 2123-2155, December.
    3. Steckel, Richard H, 1990. "Poverty and Prosperity: A Longitudinal Study of Wealth Accumulation, 1850-1860," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 275-285, May.
    4. Eliana La Ferrara, 2003. "Kin Groups and Reciprocity: A Model of Credit Transactions in Ghana," American Economic Review, American Economic Association, vol. 93(5), pages 1730-1751, December.
    5. Mervyn A. King & Louis Dicks-Mireaux, 1981. "Asset Holdings and the Life Cycle," NBER Working Papers 0614, National Bureau of Economic Research, Inc.
    6. Rogg, Christian, 2006. "Asset Portfolios in Africa: Evidence from Rural Ethiopia," WIDER Working Paper Series 145, World Institute for Development Economic Research (UNU-WIDER).
    7. Udry, Christopher, 1995. "Risk and Saving in Northern Nigeria," American Economic Review, American Economic Association, vol. 85(5), pages 1287-1300, December.
    8. Frikkie Booysen & Ronelle Burger & Gideon Du Rand & Michael von Maltitz & Servaas Van der Berg, 2007. "Trends in Poverty and Inequality in Seven African Countries," Working Papers PMMA 2007-06, PEP-PMMA.
    9. Wolff, Edward N, 1981. "The Accumulation of Household Wealth over the Life-Cycle: A Microdata Analysis," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(1), pages 75-96, March.
    10. White, Betsy Buttrill, 1978. "Empirical Tests of the Life Cycle Hypothesis," American Economic Review, American Economic Association, vol. 68(4), pages 547-560, September.
    11. Torche, Florencia & Spilerman, Seymour, 2006. "Household Wealth in Latin America," WIDER Working Paper Series 114, World Institute for Development Economic Research (UNU-WIDER).
    12. King, M A & Dicks-Mireaux, L-D L, 1982. "Asset Holdings and the Life-Cycle," Economic Journal, Royal Economic Society, vol. 92(366), pages 247-267, June.
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    Cited by:

    1. Carlos Guerrero-de-Lizardi, 2015. "An Imperfect Approach for Looking at the Distribution of Financial and Non-Financial Wealth in Mexico 1984-2012," Remef - The Mexican Journal of Economics and Finance, Instituto Mexicano de Ejecutivos de Finanzas. Remef, September.
    2. Rogg, Christian, 2006. "Asset Portfolios in Africa: Evidence from Rural Ethiopia," WIDER Working Paper Series 145, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    wealth; Ghana; asset index;

    JEL classification:

    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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