The fifth (2005) round of the World Bank's International Comparison Program, which produces estimates of the gross domestic product at purchasing power parity prices, has been the most extensive and carefully monitored project so far. The preliminary estimates were noticeable for the large downward revisions of gdp estimates of China and India. This article suggests that there were five reasons for the revisions in the fifth round. The single most important factor was the adjustment to productivity estimates of government services; a correction was required but the icp perhaps produced too large an adjustment for China and India.
