This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window

Journal of Economic Perspectives: Vol. 24 No. 3 (Summer 2010)

Expand

Quick Tools:

Print Article Summary
Export Citation
Sign up for Email Alerts Follow us on Twitter

Explore:

JEP - All Issues


Theory, General Equilibrium, and Political Economy in Development Economics

Article Citation

Acemoglu, Daron. 2010. "Theory, General Equilibrium, and Political Economy in Development Economics." Journal of Economic Perspectives, 24(3): 17-32.

DOI: 10.1257/jep.24.3.17

Abstract

I discuss the role of economic theory in empirical work in development economics with special emphasis on general equilibrium and political economy considerations. I argue that economic theory plays (should play) a central role in formulating models, estimates of which can be used for counterfactual and policy analysis. I discuss why counterfactual analysis based on microdata that ignores general equilibrium and political economy issues may lead to misleading conclusions. I illustrate the main arguments using examples from recent work in development economics and political economy.

Article Full-Text Access

Full-text Article (Complimentary)

Additional Materials

Online Appendix (1.61 MB)

Authors

Acemoglu, Daron (MIT)

JEL Classifications

D50: General Equilibrium and Disequilibrium: General
O10: Economic Development: General
P00: Economic Systems: General

Comments

View Comments on This Article (0) | Login to post a comment


Journal of Economic Perspectives


Quick Tools:

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)

Explore:

JEP - All Issues

Virtual Field Journals


AEA Member Login:


AEAweb | AEA Journals | Contact Us