Wealth Inequality in South Africa, 1993–2017
(2022) The World Bank Economic Review — Vol. 36, n° 1, p. 19-36 (2022)
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- Abstract
- This article estimates the distribution of personal wealth in South Africa by combining microdata covering the universe of income tax returns, household surveys, and macroeconomic balance sheet statistics. South Africa is characterized by unparalleled levels of wealth concentration. The top 10 percent own 86 percent of aggregate wealth and the top 0.1 percent close to one-third. The top 0.01 percent of the distribution (3,500 individuals) concentrate 15 percent of household net worth, more than the bottom 90 percent as a whole. Such levels of inequality can be accounted for in all forms of assets at the top end, including housing, pension funds, and financial assets. There has been no sign of decreasing inequality since the end of apartheid.
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Citations
Chatterjee, A., Czajka, L., & Gethin, A. (2022). Wealth Inequality in South Africa, 1993–2017. The World Bank Economic Review, 36(1), 19-36. https://doi.org/10.1093/wber/lhab012 (Original work published 2022)