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Integration of Development and Economics
The shift towards thinking deeply about causal effects rather than descriptive analysis, in the academic world, especially in economics, signifies a significant change. There is a growing focus on development research and a move away from ideological viewpoints. More economists are now directing their attention to the developing world, leading to an increase in research work in this area. Integration of development issues with broader economics is crucial as lessons learned in developing countries can be valuable for richer nations, emphasizing the importance of mutual learning and recognizing similarities across different economic contexts.