Purchasing Power Parities and Real Expenditures

Books, Periodicals, Studies, and Reports

ISBN: 978-971-561-640-9
Publication Date: December 2007
In stock

This publication presents the final results on estimates of PPPs of currencies of the participating economies in ICP Asia Pacific.

These include estimates of "real" gross domestic product and its major components, namely, household consumption, government consumption, gross capital formation, and net external trade. The estimates of PPPs are more robust in this round through improvements in methodology, data collection, data review, and data processing.

The 2005 International Comparison Program (ICP) is the largest ICP round to date, covering 146 economies that were divided into five geographic regions: Africa, Asia and the Pacific, Commonwealth of Independent States, Latin America, and Western Asia; plus an additional "region" of countries for the regular purchasing power parity (PPP) program managed by the Organisation for Economic Co-operation and Development and the Statistical Office of the European Union.

A regional organization coordinated the project in each of the five geographic regions, with the Asian Development Bank (ADB) assuming the coordinating agency role for ICP in Asia and the Pacific region (ICP Asia Pacific). The global ICP will eventually consolidate results from Asia and the Pacific region with results from the other five regions.

ICP Asia Pacific achieved several milestones in this 2005 round. The simultaneous participation of the People's Republic of China and India, which together account for 64% of total real gross domestic product of the 23 economies involved, was a first for the ICP and significantly increased the coverage of the round. In this round, the diversity in the economies in terms of size, geography, and statistical capacities was overcome as the 23 participating economies worked concertedly to generate price and national accounts data that are broadly comparable.

Finally, ICP Asia Pacific has established the technical know-how and institutional requirements that future ICP rounds can build on.

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