% Ad va nc ed e co no m ie s Advanced economies Emerging market and developing economies Em er gi ng m ar ke t a nd d ev el op in g ec on om ie s 46 48 50 52 54 56 33 35 37 39 41 43 45 % % © GENERATION INVESTMENT MANAGEMENT LLP 2019 14 Source: Chetty, Raj, David Grusky, Maximilian Hell, Nathaniel Hendren, Robert Manduca, and Jimmy Narang.