Why Is Macroeconomics Different in Developing Countries?

Nayyar, Deepak

In this paper Nayyar demonstrates that macroeconomics developed in the context of industrialized countries cannot simply be transplanted in developed countries. Starting from accounting identities, models can be built based on economic reasoning, but such models must respect institutional facts and recognize different contexts.


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Initiative for Policy Dialogue
Initiative for Policy Dialogue
Initiative for Policy Dialogue Working Paper Series
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February 4, 2010


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