For those who are not familiar with Gini Coefficient it is measure of statistical dispersion most commonly used to measure inequality in income distribution. The value used is between 0 to 1. 0 being perfect equality while 1 is perfect inequality. Basically, it's says how equal is the distribution of wealth in a given study.
In the case of Malaysia, based on survey in 1997 that was published in 2007 by World Bank we are rated at around 0.492 or 49.2 %. Looking at the table, highest 10% of the population owns 38% of the nation wealth. Looking at top 40% of the population owns 74.6% of wealth, while more than half of that wealth is concentrated within the top 10% of the population (38.4%). The rest of the 60% of population owns just 25.4% of the nation wealth. This is a terrible indicator of our distribution of wealth. It just shows that we have a skewed economy where only a small minority of the people (1/10) own more than 1/3 of the nations wealth. That was in 1997.
I fear to know the current situation.
Monday, 14 April 2008
I dream of a better Gini
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment