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Randomized Evaluations
a tool for development economics. use of controlled experiments, rather than just observation.
gaining popularity: the World Bank will spend $16 million on randomized trials
Randomistas
Trouble: randomised evaluations might be good for microeconomics, but are difficult for macro questions such as "what is the best exchange rate policy?"
Trouble: while randomised evaluations might be useful for deciding to give away mosquito netting (rather than charging for it), it is difficult to scale-up the testing proceedures to cover an entire country, and not just be based on observations of a few villages.
Controversy: Randomistas & other development economists will likely never agree.
Problem: economists dont know enough about growth to justify their obsession with it, no matter how important it might be.
Links from KookyPlan
related pages: economic development, emerging markets , Rise of purchasing power in emerging markets , Bolsa Familia and microcredit , Microfinance
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