What is the Gini coefficient of Ireland?
30.6
Gini Co-efficient The coefficient varies between 0, which reflects complete equality and 100, which indicates complete inequality (one person has all the income or consumption, all others have none). The Gini coefficient for Ireland in 2017 was 30.6, an increase from 29.6 in 2016.
What is the average Gini coefficient?
The World Bank’s estimate of the Gini Index for the US was 41.1, and China at 42.1, both slightly higher than the average among all countries of 38.8.
How do you find the Gini coefficient?
The Gini coefficient can be calculated using the formula: Gini Coefficient = A / (A + B), where A is the area above the Lorenz Curve and B is the area below the Lorenz Curve.
Is there inequality in Ireland?
After three decades of rapid economic growth, Ireland now has the highest rate of income inequality in the EU. Seen through this lens, Ireland is a very unequal society with top earners making steep multiples of what’s been generated at the lower rungs of the economic ladder.
What is China’s Gini coefficient?
0.481
That means China’s Gini coefficient (0.481) belongs to a handful of countries with top inequality in the world, not only higher than that of western developed countries, but also above Asia’s average (0.3513).
Is income inequality a problem in Ireland?
In the 2017 edition, TASC, in partnership with FEPS (the Foundation for European Progressive Studies), found that Ireland continued to rank in the middle among European countries in income inequality. However, in market inequality terms, Ireland was the most unequal country in Europe.
Is Ireland a low income country?
In terms of GDP per capita, Ireland is ranked as one of the wealthiest countries in the OECD and the EU-27, at 4th in the OECD-28 rankings. In terms of GNP per capita, a better measure of national income, Ireland ranks below the OECD average, despite significant growth in recent years, at 10th in the OECD-28 rankings.
What was the Gini coefficient in Ireland in 2017?
The coefficient varies between 0, which reflects complete equality and 100, which indicates complete inequality (one person has all the income or consumption, all others have none). The Gini coefficient for Ireland in 2017 was 30.6, an increase from 29.6 in 2016.
Who is the creator of the Gini coefficient?
The Gini coefficient, also called the Gini Index or Gini ratio, is a statistical measure of distribution intended to represent the income or wealth distribution. The Gini coefficient was developed by Italian statistician Corrado Gini in 1912 and is the most commonly used measurement of wealth or income inequality.
How does the Gini Coefficient measure income remuneration?
The coefficient measures the dispersion of income Remuneration Remuneration is any type of compensation or payment that an individual or employee receives as payment for their services or the work that they do for an organization or company.
What does a Gini index of 0 mean?
The Gini index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage of the maximum area under the line. Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality. Source: World Bank, Development Research Group.