Who shrunk China? Puzzles in the measurement of real GDP

Feenstra, Robert C., Ma, Hong, Neary, J. Peter and Rao, D.S. Prasada (2013) Who shrunk China? Puzzles in the measurement of real GDP. Economic Journal, 123 573: 1100-1129. doi:10.1111/ecoj.12021

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Author Feenstra, Robert C.
Ma, Hong
Neary, J. Peter
Rao, D.S. Prasada
Title Who shrunk China? Puzzles in the measurement of real GDP
Journal name Economic Journal   Check publisher's open access policy
ISSN 0013-0133
Publication date 2013
Year available 2013
Sub-type Article (original research)
DOI 10.1111/ecoj.12021
Open Access Status
Volume 123
Issue 573
Start page 1100
End page 1129
Total pages 30
Place of publication Chichester, West Sussex, United Kingdom
Publisher Wiley-Blackwell Publishing Ltd
Collection year 2014
Language eng
Subject 2002 Cultural Studies
Abstract The latest World Bank estimates of real GDP per capita for China are significantly lower than previous ones. We review possible sources of this puzzle including substitution bias in consumption, reliance on urban prices, which we estimate are higher than rural ones, and the use of an expenditure-weighted rather than an output-weighted measure of GDP. Taking all these together, we estimate that Chinese real per capita GDP was 30% higher in 2005 than the World Bank estimates. Our empirical procedures have implications more broadly for international comparisons of living standards and real GDP.
Keyword Geary Khamis and GAIA Indexes
Gerschenkron effect
International comparisons of real income and GDP
Measurement economics
Substitution bias
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2014 Collection
School of Economics Publications
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Citation counts: TR Web of Science Citation Count  Cited 3 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 3 times in Scopus Article | Citations
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Created: Tue, 31 Dec 2013, 01:01:54 EST by System User on behalf of School of Economics