How to get the right size bicycle for a child?

Hi, I am planning to buy a bicycle for a child who is of height 5 ft. 3 in. tall. Can someone suggest a good bicycle frame and wheel size for someone of that height? Please include any additional details you may consider useful, I really don't know anything at all about bicycle measurement, the last time I rode one regularly was as a toddler.

p.s. Would the bicycle in the link below be appropriate size-wise for somebody of that height?

'http://www.amazon.com/Pacific-Cycle-S2278-Schwinn-Folding/dp/B000Y2ZFQ8'

1. For someone 5′ 3" get a 15 inch frame. Get a bike from the local bike shop and they can help with selecting the correct size.

2. Kids grow so if they are in a child seat or trailer it won’t be long until they outgrow it. I assume your child is 5-8 years old, what I would recommend for your child is 18-22 inches or 45-55 cm for the child’s inseam and for the wheel diameter/ "bike size" choose 16 inches. Since, bikes like this are Mostly having rear coaster breaks and pneumatic tires, some have front hand brakes.

3. As 5′ 3" is the height of many adults s/he can ride an adult size bike. I bought a mountain bike for my nephew and he is 5’2" – the saddle is not right down and it is perfect for him.
   Another measurement to consider is their inside leg measurement. When standing across the crossbar (if it has one ) there should be a clearance of at least 2"

   That bike is probably OK for size but the reviews say it is heavy – a child might find it too heavy

   Must admit I do not understand Lily at all – what 5-8yo is 5’3"?! This sounds more like the height of a young teenager. My nephew is 14.

4. Don’t buy a kids bike on the internet as kids bikes sizes a rarely accurate. I recommend going to a shop. Make sure that when your kid is sat on the seat he should be on his tip toes. Make sure the seat is low down when you do this so there is room for growth. Do not trust the sales person all that much use your common sense sales people just want to sell.

5. Pacific-Cycle? Run, do not walk, RUN away from this company. At 5′ 3" tall, go to a real bike shop & look for a bike with a small frame. Once into either the 26" or 700C wheels, bikes are measured by frame size. Prime example… When my son was only 4′ 11" tall, he was riding a mountain bike with 26" wheels & a 13" frame. Now that he’s grown some, he’s into a medium sized 18" frame.

   Again…don’t waste your $$$. Go to a real bike shop. If not, look on craigslist for a quality brand in a small frame. Quality brands are Trek, Raleigh, Giant, Gary Fisher, etc. Discount store bikes are not on this list…even those from Schwinn. A Schwinn from a real bike shop is of MUCH better quality.