Converting local currency to USD(PPP)

[Aqil]

I want to know whether a certain person can be considered a poor person according to the World Bank's absolute poverty threshold of US$1.25/day.

All I know is that the person is a Malaysian paid 500MYR/month in 2010. I suppose I need to adjust for purchasing power parity (PPP) so I guess I need some sort of price index. Where do I find the data I need and how do I convert the information I have into PPP adjusted USD?

[econpointadmin]

You can find the data on PPP indexes/indices on World Bank's website (World Development Indicators):

http://econ.worldbank.org/WBSITE/EXT...469372,00.html

Some further information
http://mdgs.un.org/unsd/mdg/Metadata...0&SeriesId=580

[Aqil]

Thank you!

I will look closer at this.

[robdashu]

Here's another source for you:

http://pwt.econ.upenn.edu/php_site/pwt_index.php

Th's a Univ of Pennsylvania site. Easy to use downloadable spreadsheets.

[Aqil]

Thank you very much robdashu!

[Bhanu]

Hai............
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Welcome to this forum.......
Thanks for information........
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regards ,
phe9oxis.
http://www.guidebuddha.com

[mulp]

I want to know whether a certain person can be considered a poor person according to the World Bank's absolute poverty threshold of US$1.25/day.

All I know is that the person is a Malaysian paid 500MYR/month in 2010. I suppose I need to adjust for purchasing power parity (PPP) so I guess I need some sort of price index. Where do I find the data I need and how do I convert the information I have into PPP adjusted USD?

If you grow your own food, so you aren't buying or selling it, and the $1 a day is used to pay for kerosene and cell phone time from the woman down the road to figure out if you should take your excess farm harvest 10 miles to market to sell for $5-10$, what is your actual income. Does the value of the food you grow and consume count as income?

Until 1920, more than 50% of the US population lived on farms, and most produced most of the food they ate. And in town, many had gardens as well producing food. Even in the 60s, lots of families in Indiana at least bought from farm stands and canned or froze that for winter. Does that production count as income. Today, the cheap food, a lot imported, makes growing and canning your own almost more expensive out of pocket than buying frozen or canned at the store.

Today, very few farmers grow food for themselves because they produce on the industrial scale. Not many love farming or gardening after having to work the farm commodity factory.

Most nations are in transition, someplace like the US between 1700 and 1950.