Why is Macroeconomics Different in Developing Countries?
Working Paper #32
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.
About the Author
University of Delhi
Deepak Nayyar is Professor of Economics at Jawaharlal Nehru University, New Delhi. He has taught at the University of Oxford, the University of Sussex, the Indian Institute of Management Calcutta (IIM-C), and the New School for Social Research, New York. He was Vice Chancellor of the University of Delhi from 2000 to 2005.