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ICP 2005 Construction Prices: Underestimated in Developing Countries?

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dc.contributor.authorBreton, Theodore R.
dc.contributor.authorGarcía, John J.
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.creator.emailtbreton@eafit.edu.co
dc.creator.emailjgarcia@eafit.edu.co
dc.date.accessioned2013-03-21T20:32:51Z
dc.date.available2013-03-21T20:32:51Z
dc.date.issued2013-04-10
dc.description.abstractConstruction prices in developing countries in ICP 2005 are lower relative to prices in developed countries than in earlier versions of the ICP. Our estimates of the Colombia/U.S. ratio of prices for office buildings demonstrate that the ICP 2005 price ratio for these countries is substantially underestimated. We confirm the validity of our results by comparing construction component prices in these countries. Since the ICP 2005 estimate of the Colombia/U.S. price ratio is representative of its ratio of construction prices between all developing and developed countries, we suspect there is a problem with the ICP 2005 estimation methodology.eng
dc.format.mimetypeapplication/pdf
dc.identifier.instnameinstname:Universidad EAFIT
dc.identifier.jelE30
dc.identifier.jelO47
dc.identifier.reponamereponame:Repositorio Institucional Universidad EAFIT
dc.identifier.repourlrepourl:https://repository.eafit.edu.co
dc.identifier.urihttps://hdl.handle.net/10784/672
dc.language.isoeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentCentro Valor Públicospa
dc.publisher.facultyEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordICP 2005eng
dc.subject.keywordPrice Indiceseng
dc.subject.keywordPenn World Tableeng
dc.subject.keywordConstruction Priceseng
dc.subject.keywordColombiaeng
dc.titleICP 2005 Construction Prices: Underestimated in Developing Countries?eng
dc.typeinfo:eu-repo/semantics/workingPaper
dc.type.coarhttp://purl.org/coar/resource_type/c_8042
dc.type.localDocumento de trabajo de investigaciónspa
dc.type.redcolhttp://purl.org/redcol/resource_type/WP
dc.type.versioninfo:eu-repo/semantics/draft
dspace.entity.typePublication

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