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Who Shrunk China? Puzzles in the Measurement of Real GDP

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 and conclude that it reflects a combination of factors, 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 real per-capita GDP in China was 50% higher...

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Authors


J. Peter Neary More by this author
Robert C. Robert C. Feenstra More by this author
D.S. Prasada Rao More by this author
Volume:
566
Series:
Discussion paper series
Publication date:
2011
URN:
uuid:f4d0e650-6726-45e0-a3d2-9bd9d19afd0c
Local pid:
oai:economics.ouls.ox.ac.uk:15266
Language:
English

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