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The gini coefficient measures the inequality among the values of a frequency distribution, such as income levels In contrast, a gini index of 1 (or 100%) means only one person has all the wealth, and everybody else has none. A gini coefficient of 0 reflects perfect equality, where all income or wealth values are the same.
The gini coefficient, also called the gini index or gini ratio, is the most commonly used measure of income distribution—simply put, the higher the gini coefficient, the greater the gap between the incomes of a country’s richest and poorest people. A gini index of zero (or 0%) means everyone has the same amount of wealth The gini coefficient, or gini index, is the most commonly used measure of inequality
Gini index world bank, poverty and inequality platform
Data are based on primary household survey data obtained from government statistical agencies and world bank country departments The gini index, developed by corrado gini in 1912, measures income inequality on a scale from 0 (perfect equality) to 1 (perfect inequality), with south africa having the highest recorded gini. The gini coefficient, or gini index, is derived from the lorenz curve, and like the lorenz curve, it measures the degree of economic equality across a given population and simplifies this reality into a single number. A gini of 0 indicates perfect equality, while 1 indicates that all income goes to one person and none to everyone else
The index is often used by economists and policymakers to assess inequality within a country or region. The gini coefficient summarizes how much the distribution of income (or other measures, like consumption or wealth) among individuals or households deviates from a perfectly equal distribution. Developed by, and named after, statistician corrado gini in the early 1900s, the gini coefficient is often used to measure wealth and/or income inequality However, it can actually be used to measure inequality of any type, including health care access, life expectancy, and more.
Every population has a gini index value that is somewhere between two extremes
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