GCRI · Science
Economics and development economics
Economics and development economics study how societies produce, distribute and consume resources and how living standards change. They estimate the costs of shocks and the trade-offs among policy responses. Economic Development stewards this page for the Nexus Consortium.
01Contents
Economics and development economics in six parts.
In this dossier6 parts
- 01The methodWhat economics and development economics covers
- 02Reference practiceEconomic measurement rests on national accounts and shared data
- 03In systemic risk workIndirect losses often exceed direct ones
- 04Applied inPlatforms that apply this method
- 05StewardshipWho maintains this page
- 06SourcesWhere this page’s references lead
02The method
What economics and development economics covers.
- 01
Core methods
input-output analysis; computable general equilibrium modelling; cost-benefit analysis; household welfare analysis; growth accounting; field experiments.
- 02
Data and instruments
national accounts; household income and expenditure surveys; trade statistics; labour force surveys; price indices.
- 03
Validation
Models are assessed against historical episodes and out-of-sample data. Parameter estimates are compared across studies and identification strategies.
- 04
Limits
Equilibrium models may understate disruption and nonlinear cascades. Informal economies and non-market losses are poorly measured.
- 05
Use in risk decisions
Economic analysis quantifies indirect losses as shocks spread through supply chains and labour markets. It supports prioritising investment in prevention and recovery.
03Reference practice
Economic measurement rests on national accounts and shared data.
| Reference | What it sets |
|---|---|
| System of National Accounts | Definitions of output, income, capital and their measurement |
| World Bank and IMF data | Macroeconomic and development indicators |
| Input-output tables (for example OECD inter-country tables) | Inter-industry linkages for shock propagation |
04Process
How the process runs.
Process
Economics and development economics: PRISMA 2020 review reporting
PRISMA 2020 is a reporting guideline for systematic reviews; the steps follow its checklist, not a mandated sequence, and no Nexus document adopts it.
01 Plan
- 01Registration and protocolRecord · The review teamThe guideline asks for registration details, access to the protocol and any amendments.
- 02Eligibility criteriaRecord · The review teamThe guideline asks for the inclusion and exclusion criteria and how studies were grouped.
02 Find and select
- 03Search: sources and strategiesStep · The review teamThe guideline asks for the information sources and the full search strategies. It does not fix which sources are used.
- 04Selection of studiesStep · The review teamThe guideline asks how studies were judged eligible, including how many reviewers screened. It does not fix the number of reviewers.
- 05Flow diagramRecordThe flow diagram shows the number of records found, the number of studies included and the reasons for exclusion.
03 Analyse
- 06Data collectionStep · The review teamThe guideline asks how data were collected from reports and which data items were sought.
- 07Risk of biasStep · The review teamThe guideline asks for the methods and tools used to assess risk of bias.
- 08SynthesisModel · The review teamThe guideline asks for the effect measures and the synthesis methods. It does not prescribe meta-analysis.
- 09Certainty of evidenceStep · The review teamThe guideline asks for the methods used to assess certainty, and reports the result per outcome. It does not name a grading scale.
04 Report
- 10Review reportRecordThe guideline helps authors report why the review was done, what they did and what they found.
ReportsOutline of an externally published reporting guideline, not a Nexus process and not a record of operation. PRISMA 2020 mainly covers reviews of intervention effects. No Nexus page names it. Every programme is at service level R0.
05In systemic risk work
Indirect losses often exceed direct ones.
Damage to assets is the direct loss; lost production in supplier and customer industries, and in households, is the indirect loss. Input-output and computable general equilibrium models estimate indirect losses, and their assumptions about substitution and recovery time largely decide the answer.
- Do not add damage to capital and lost output without checking for double counting.
- State substitution elasticities and recovery assumptions.
- Distinguish distributional effects from aggregate ones.
- Applications on Economic Development and Future of Work and Skills.
06Applied in
Platforms that apply this method.
07Stewardship
Who maintains this page.
Economic Development stewards economics and development economics: it keeps this description current and reviews how the method is applied across the platforms.
08Sources
Where this page’s references lead.
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
09Questions
Questions and answers.
Why does one institution host every method page?
GCRI hosts the STEM Commons so that each method has one canonical description. Platforms link to it rather than repeat it, which keeps definitions consistent.
How do I suggest a correction to a method page?
Write to the integrity concern form with the passage and the reason.
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