-Livemint.com What works for a small-scale NGO-style intervention may not help the state’s implementation of it without elaborate checks The Nobel Prize for economics this year has gone to three scholars, two American citizens and one French-American. It has generated much excitement in India because one of the Americans, Abhijit Banerjee, is of Indian descent, and all three have worked on India. This has happened before. Angus Deaton, the 2015 recipient, and...

-Livemint.com Economist Esther Duflo on demonetisation impact, role of randomized control trials in policymaking, low priority assigned to health and education in India New Delhi: India’s demonetisation of high-value currency notes is a dramatic example of a policy announcement made without any serious thought given to implementation, said Esther Duflo, one of the leading development economists of the world and a professor at the department of economics at the Massachusetts Institute of...