Who Shrunk China? Puzzles in the Measurement of Real GDP
研究发现世界银行对中国实际人均GDP的估算显著偏低,原因包括消费替代偏差、城市价格偏高以及使用支出加权而非产出加权GDP测量,综合调整后2005年中国相对美国的人均实际GDP比世界银行估计高50%。
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 relative to the U.S. in 2005 than the World Bank estimates.