What we do
Global Economic Perspectives (GEP) is the world leader in providing the most comprehensive and up-to-date information on global household wealth.
Founded by Professors Anthony Shorrocks and Jim Davies, recognised authorities on this topic, and the principal authors of “Personal Wealth from a global perspective,” Oxford University Press, 2008, GEP measures and analyses trends in wealth across nations from those at the very base of the “wealth pyramid” to the burgeoning number of ultra-high net worth individuals. The methodology is robust, established over many years of analysis, and completely transparent with regard to the underlying sources and their quality.
Although the global economic environment remains challenging, total global wealth has grown to a new record, rising by USD 20.1 trillion between mid-2013 and mid-2014, an increase of 8.3%, to reach USD 263 trillion – more than twice the USD 117 trillion recorded for the year 2000.
With an 11.4% year-on-year increase, wealth creation was particularly strong in north america, where it now stands at usD 91 trillion, or 34.7% of total wealth. Europe made the second largest contribution, with wealth increasing 10.6% to usD 85.2 trillion. in both regions, capital markets were a key source of wealth growth: equity market capitalisation grew by 22.6% in the united states, while canada, France and Germany all recorded gains close to 30%. as we noted last year, asia and particularly china will account for the largest portion of newly created wealth among the emerging markets.
One of the reasons for the launch of the globaleconomicperspectives.com is that we find that emerging-market wealth growth has not been able to maintain its momentum from the pre-crisis period between 2000 and 2008 and that wealth inequality is becoming an ever more important topic for debate and analysis. This should not distract from the fact that personal wealth in India and China has risen by a factor of 3.1 and 4.6 since 2000.
While we have seen an uptrend in the share of wealth in emerging markets, that trend has come to a halt in recent years, mainly due to a de-acceleration in growth
The changing distribution of wealth is now one of the most widely discussed and controversial of topics, not least owing to Thomas Piketty’s recent account of long-term trends around inequality.
We are confident that the depth of our data will make a valuable contribution to the inequality debate.
Who we are
Director of Global Economic Perspectives ltd, Anthony Shorrocks received his phD from the London School of Economics (LSE). He then taught at the LSE until 1983, when he became Professor of Economics at Essex university, serving also as head of Department and Director of Economic Research for the British household panel study.
In 2001, he was appointed Director of the World Institute for Development Economics Research of the United Nations university in Helsinki, where he remained until 2009. He has published widely on income and wealth distribution, inequality, poverty and mobility, and was elected a Fellow of the Econometric Society in 1996.
Publications include “the age-wealth relationship: a cross section and cohort analysis” (Review of economics and statistics 1975), “the portfolio composition of asset holdings in the united kingdom” (economic Journal 1982), and, with Jim Davies and others, “Assessing the quantitative importance of inheritance in the distribution of wealth” (Oxford Economic papers 1978), “The distribution of wealth” (Handbook of income Distribution 2000), “The world distribution of household wealth” in personal Wealth from a global perspective (Oxford University Press 2008), “The global pattern of household wealth” (Journal of international Development 2009) and “The level and Distribution of global household Wealth” (Economic Journal 2011).
Jim Davies is a professor in the Department of Economics at the university of Western Ontario in Canada, where he has been a faculty member since 1977 and served as chair of the department from 1992 to 2001.
He received his PHD from the London School of Economics in 1979. Jim was the director of the Economic Policy Research institute at UWO from 2001 to 2012. In 2010, he completed a five-year term as managing editor of the academic journal canadian public policy.
From 2006 to 2008, he directed an international research program on household wealth holdings at unu-WiDeR in Helsinki and edited the resulting volume, “Personal Wealth from a global perspective” (Oxford University Press, 2008). He has authored two books and over 70 articles and chapters in books on topics ranging from tax policy to household saving and the distribution of wealth. publications include “the Relative impact of inheritance and other Factors on economic inequality” (Quarterly Journal of economics 1982), “Wealth and economic inequality” (oxford handbook of economic inequality, oxford university press, 2009), and several publications on wealth authored jointly with Anthony Shorrocks and others. Jim is also the editor of “the economics of the Distribution of Wealth,” published earlier this year by Edward Elgar.
Lluberas is an analyst at the Research department of Uruguay Central Bank. He received his PHD in economics from Royal Holloway college, university of london and his MSC in economics from University College London.
He has been a visiting scholar at the institute for Fiscal studies and an economist at Towers Watson in london. Prior to undertaking his MSC, he worked for three years as an economic analyst at Watson Wyatt Global Research Services and more recently as a research assistant at Nesta. His main areas of expertise are pensions, consumption and wealth.
With over 25 years of experience in the media and a former European Digital Director of Time Warner AOL Europe, Evans has provided digital consultancy to a wide range of blue chip companies across industries ranging from automotive to travel to finance. He is now acting as Chief Digital Officer to GEP.