The Gini coefficient measures income or wealth inequality within a population on a scale from 0, representing perfect equality where every individual or household has an identical income, to 1 (or equivalently 100 on a 0-100 scale), representing perfect inequality where a single individual or household holds all of the income. Developed by Italian statistician Corrado Gini in 1912 and derived mathematically from the Lorenz curve plotting cumulative income share against cumulative population share, it is the most widely used single-number summary of inequality, calculated for individual countries by national statistical agencies and compiled comparatively across countries by the World Bank and other international bodies, though it is commonly criticized for compressing a complex income distribution into one number that can obscure very different underlying distributions.
Facts
Classification
Release FrequencyStandard published release cadence for Gini Coefficient (official statistical release schedule). Sources
1. Wikipedia
Wikimedia Foundation
Gini coefficient (Wikipedia)
WikipediaWikipedia, "Gini coefficient", lead sectionQuote, Wikipedia, "Gini coefficient", lead section
In economics, the Gini coefficient, also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality within a nation or a social group. It was developed by Italian statistician and sociologist Corrado Gini.
Reader Challenges (0)
No disputes yet. Spotted an error or a better source? Open the first one.
Sign in to dispute this or suggest a correction.