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What Can Be Learned About the Economies of China and India from Purchasing Power Comparisons?

Author

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  • Alan Heston

    (Indian Council for Research on International Economic Relations)

Abstract

Comparisons of India and China have been made for over 50 years. This paper focuses on purchasing power estimates in China and India in the 2005 round of the UN International Comparison Programme (ICP) that was coordinated by the World Bank, the Regional Banks and Economic Commissions. The 2005 ICP round provides estimates of purchasing power parities (PPPs) of currencies and real product per capita for 146 countries, and the results for China and India are discussed in the context of the size of these economies. It also provides insights into the prospects of future economic growth in China and India as also policy recommendations for China and the likely scenarios in the future.

Suggested Citation

  • Alan Heston, 2008. "What Can Be Learned About the Economies of China and India from Purchasing Power Comparisons?," Macroeconomics Working Papers 22166, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:macroe:22166
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    File URL: http://www.eaber.org/node/22166
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    References listed on IDEAS

    as
    1. Brandt, Loren & Holz, Carsten A, 2006. "Spatial Price Differences in China: Estimates and Implications," Economic Development and Cultural Change, University of Chicago Press, vol. 55(1), pages 43-86, October.
    2. Robert C. Feenstra & Alan Heston & Marcel P. Timmer & Haiyan Deng, 2009. "Estimating Real Production and Expenditures across Nations: A Proposal for Improving the Penn World Tables," The Review of Economics and Statistics, MIT Press, vol. 91(1), pages 201-212, February.
    3. Barry Eichengreen & Ricardo Hausmann, 1999. "Exchange rates and financial fragility," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 329-368.
    4. Richard Herd & Sean Dougherty, 2007. "Growth Prospects in China and India Compared," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 4(1), pages 65-89, June.
    5. Poonam Gupta & James P. F. Gordon, 2004. "Understanding India’s Services Revolution," IMF Working Papers 04/171, International Monetary Fund.
    6. Bart van Ark & Abdul Azeez Erumban & Vivian Chen & Utsav Kumar, 2009. "the Cost Competitiveness of the Manufacturing Sector in China and India: An Industry and Regional Perspective," Economics Program Working Papers 09-02, The Conference Board, Economics Program.
    7. Carsten A. Holz, 2006. "CHINA's REFORM PERIOD ECONOMIC GROWTH: HOW RELIABLE ARE ANGUS MADDISON's ESTIMATES?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 52(1), pages 85-119, March.
    8. repec:dgr:rugggd:gd-95 is not listed on IDEAS
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    Cited by:

    1. Xu, Yingfeng & Yan, Xiaoyi, 2009. "The Role of the Real Exchange Rate Adjustment in Expanding Service Employment in China," Working Papers 2009-11, University of Alberta, Department of Economics.

    More about this item

    Keywords

    purchasing power; China; India; economic growth; Tertiary Sector; capital stock;

    JEL classification:

    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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