What is the Gini coefficient of Hong Kong?

What is the Gini coefficient of Hong Kong?

Hong Kong’s Gini Coefficent Index is 46.7 and was most recently measured in 2016.

How do you find 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.

What is the Gini index is Hong Kong having the highest income gap between the rich and the poor of any developed economy in the world?

But Hong Kong is not emerging from poverty; it is a mature financial centre and one of the world’s most unequal societies. Its Gini coefficient – a ratio measuring distribution of wealth where zero is perfect equality and one is perfect inequality – stood at 0.54 in 2017.

What country has the highest Gini coefficient?

South Africa
Gini Index coefficient – distribution of family income

Rank Country
1 South Africa 63.0
2 Namibia 59.1
3 Zambia 57.1
4 Sao Tome and Principe 56.3

Is HK an unequal society?

Is there inequality in Hong Kong?

Our evidence suggests a very large rise in income and wealth inequality in Hong Kong over the last four decades.

Is a high Gini coefficient good?

The Gini index is a way to measure income and wealth inequality. The index was developed by statistician Corrado Gini in 1912. It provides a range that falls between zero and one, where zero means perfect equality and one indicates perfect inequality.

Why does Hong Kong have a high Gini coefficient?

Apart from the global trend of rising income gap over time, for Hong Kong specifically, the increase of the Gini coefficient may be attributed to three main factors – demographic changes, business cycle factors, and economic restructuring.

Why is Hong Kong so rich?

Hong Kong raises revenues from the sale and taxation of land and through attracting international businesses to provide capital for its public finance, due to its low tax policy.

What is the Gini coefficient in Hong Kong?

On a pre-redistribution and household adjustment basis, the Gini coefficient in Hong Kong was 0.533, lower than ew York City (0.542), N Washington DC (0.540), and Los Angeles (0.538), though slightly higher than San Francisco (0.514) and Shenzhen (0.49).

How is the Gini index related to other indicators?

The Gini index is also related to the Pietra index — both of which are a measure of statistical heterogeneity and are derived from Lorenz curve and the diagonal line. . These indicators are related to Gini. The inverse Simpson index increases with diversity, unlike Simpson index and Gini coefficient which decrease with diversity.

Which countries have the highest Gini coefficient?

African countries had the highest pre-tax Gini coefficients in 2008–2009, with South Africa the world’s highest, variously estimated to be 0.63 to 0.7, although this figure drops to 0.52 after social assistance is taken into account, and drops again to 0.47 after taxation.

What is the Gini coefficient of the richest 20%?

The proverbial case where the richest 20% have 80% of all income (see Pareto principle) would lead to an income Gini coefficient of at least 60%. An often cited case that 1% of all the world’s population owns 50% of all wealth, means a wealth Gini coefficient of at least 49%.