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It was developed by italian statistician and sociologist corrado gini The gini coefficient incorporates the detailed shares data into a single statistic, which summarizes the dispersion of income across the entire income distribution. The gini coefficient measures the inequality among the values of a frequency distribution, such as income levels

Gini Coefficient, Definition, Formula, Importance, Calculation

A gini coefficient of 0 reflects perfect equality, where all income or wealth values are the same. The gini index is a summary measure of income inequality 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.

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 coefficient, or gini index, is the most commonly used measure of inequality 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. 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.