Purchasing Power Parities and the Real Size of World Economies (Paperback) | Released: 15 Dec 2014

The publication presents the detailed results of the 2011 International Comparison Program (ICP). The ICP is a worldwide statistical initiative that aims to estimate Purchasing Power Parities (PPPs) to be used as currency converters to compare the size and price levels of economies around the world. The program involved 199 economies from eight geographic regions: Africa, Asia and the Pacific, Commonwealth of Independent States, Latin America, the Caribbean, Western Asia, Pacific Islands, and the countries of the regular PPP program managed by the Organization for Economic Cooperation and Development (OECD) and the Statistical Office of the European Communities (Eurostat). The work reported herein was conducted by national implementing agencies that collected the necessary data in each economy; the regional coordination agencies that supported country activities, compiled the results and produced regional estimates; and the ICP Global Office, which coordinated and managed the work at the global level. The 2011 ICP results form a crucial information base for research in comparative analysis and policy making. They include PPPs and real expenditure values for GDP and its main aggregates for the reference year 2011 for 199 participating economies.

Table of Contents:
Overview • Governance of ICP 2011 • Regional and Country Coverage • Methodology and Innovations • ICP 2011 versus ICP 2005 • The ICP 2011 Results: An Overview • Organization of This Report Chapter 1: Background • Organization of ICP 2011 • The ICP Approach to GDP Comparisons • Exchange Rates • Purchasing Power Parities • Price Level Indexes • Real Expenditures • Actual Individual Consumption • Uses of PPPs and Real Expenditures Chapter 2: Presentation and Analysis of Results • Presentation of Results • Analysis of Results • Reliability and Limitations of PPPs and Real Expenditures • Differences between the 2005 and 2011 Comparisons • Comparing 2011 PPPs Extrapolated from ICP 2005 and ICP 2011 Benchmark PPPs Chapter 3: Data Requirements • Conceptual Framework • Surveys and Data Collection • Data Validation Chapter 4: Methodologies Used to Calculate Regional and Global PPPs • Household Consumption • Comparison-Resistant Components • Reference PPPs • Aggregating Linked Basic Heading PPPs to GDP • Special Situations • Imputing PPPs for Nonparticipating Economies Appendix A: History of the International Comparison Program (ICP) • Appendix B: Governance of ICP 2011 • Appendix C: Eurostat-OECD PPP Programme • Eurostat-OECD Comparisons • Organization of the 2011 Comparison • Data Collection for the 2011 Comparison • Calculation and Aggregation of PPPS • Additional Information • Appendix D: ICP Expenditure Classification • Deriving Actual Individual Consumption • Facilitating the Input Price Approach • Adjusting the Household Expenditure to the National Concept • Appendix E: National Accounts: Estimation, Compliance, and Exhaustiveness • Estimation • Compliance and Exhaustiveness • Appendix F: Changes in Methodology between the 2005 and 2011 ICP Rounds • Household Consumption: Product Selection and Important Products • Housing Rents • Government Compensation • Construction • Estimating Within-Region PPPS • Linking the Regions • Summary • Appendix G: Reference PPPs Used in ICP 2011 • Appendix H: Updated ICP 2005 Results • Appendix I: Comparison of ICP 2011 Results with 2011 Results Extrapolated from ICP 2005 • Appendix J: ICP 2011 Data Access and Archiving Policy • Context • Data Access Objectives • Guiding Principles • Procedures for Data Archiving • Procedures for Data Access • Appendix K: ICP Revision Policy • Triggers for Revising ICP Indicators • Guidelines for Revising ICP Indicators • Timing and Communication of Revisions Glossary • References • Boxes • Figures • Tables