The 2003-2006 ICP round marks a watershed in the program’s history. It will produce Purchasing Power Parity data for over 140 countries, including those from the Eurostat/OECD region. Significant steps have also been taken to enhance the credibility of the program. A new strategic framework has been developed to address longstanding issues, including the program’s governance structure, resource base, and methodological underpinnings.
The new strategic framework, which was prepared at the request of, and subsequently endorsed by the UN Statistical Commission, includes a) an Executive Board that provides leadership, determines strategic priorities, and oversees the implementation of the program; b) a Technical Advisory Group that provides guidance on technical and methodological issues; and c) a Global Office that manages the global program in collaboration with regional coordinating offices and national implementing agencies.
New methodological developments in this round include a) the Structured Product Description (SPD) approach for defining product specifications; b) a global basket of goods and services for the Ring comparison; c) the Basket of Construction Components Approach (BOCC) for construction sector comparisons; d) an improved method for equipment goods comparison; e) a new approach to generate poverty specific PPPs; f) the Tool Pack software package; g) new method to estimate PPPs at the basic heading level; and h) intensive review of data from each data collection period using the Eurostat Quaranta Tables as well as the Dikhanove Tables developed by the Global Office.
A new handbook has also been written to provide guidance to price statisticians. Supplementary operational manuals for national coordinators (management issues) and price collectors (field work) lay down rules and norms that countries should follow or adapt based on local circumstances.
Originally the plan was to conduct the national surveys in 2003, but preparatory activities took much longer than expected. On the national front, the preparation took longer than first envisioned. On the regional front building regional lists from the ground up proved more challenging and time consuming than it was expected. In addition, new approaches were introduced and refined as the program progressed. As a result, data collection schedule was moved first to 2004 and then to 2005. Surveys for this round began in the first quarter of 2005. Preliminary results will be available in 2006 and final results are expected to be published in 2007.
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