Premium
Study On Some Problems In Estimating China’s Gross Domestic Product
Author(s) -
Xianchun Xi
Publication year - 2002
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/1475-4991.00048
Subject(s) - gross domestic product , china , real gross domestic product , economics , subsidy , gross domestic income , gdp deflator , product (mathematics) , welfare , agricultural economics , macroeconomics , econometrics , public economics , geography , gross income , mathematics , market economy , geometry , archaeology , tax reform , state income tax
This paper discusses the five main problems with current price estimates of China’s Gross Domestic Product (GDP). These are the measurement of housing services, fiscal subsidies, welfare services provided within enterprises, rural industry and livestock products. The paper gives the possible ranges of error arising from problems in these areas and shows their quantitative impact on GDP estimates. The paper concludes that these problems have some impact on the structure of China’s GDP, but limited impact on the total size of China’s GDP. The official estimates, therefore, provide a reasonably accurate measure of the size of China’s current price GDP.