Definitions for Gini coefficient
This page provides all possible meanings and translations of the word Gini coefficient
A measure of the inequality of a statistical distribution, ranging from 0 (total equality) to 1 (maximal inequality), used in various disciplines but especially in economics to compare incomes or wealth.
Origin: After Italian statistician and sociologist .
The Gini coefficient is a measure of statistical dispersion developed by the Italian statistician and sociologist Corrado Gini and published in his 1912 paper "Variability and Mutability". The Gini coefficient measures the inequality among values of a frequency distribution. A Gini coefficient of zero expresses perfect equality, where all values are the same. A Gini coefficient of one expresses maximal inequality among values. However, a value greater than one may occur if some persons have negative income or wealth. For larger groups, values close to or above 1 are very unlikely in practice however. It has found application in the study of inequalities in disciplines as diverse as sociology, economics, health science, ecology, chemistry, engineering and agriculture. Gini coefficient is commonly used as a measure of inequality of income or wealth. For OECD countries, in the late 2000s, considering the effect of taxes and transfer payments, the income Gini coefficient ranged between 0.24 to 0.49, with Slovenia the lowest and Chile the highest. The countries in Africa had the highest pre-tax Gini coefficients in 2008–2009, with South Africa the world's highest at 0.7. The global income inequality Gini coefficient in 2005, for all human beings taken together, has been estimated to be between 0.61 and 0.68 by various sources.
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"Gini coefficient." Definitions.net. STANDS4 LLC, 2014. Web. 29 Jul 2014. <http://www.definitions.net/definition/Gini coefficient>.