It has been recognized of late that even amorphous, glass-forming materials in two dimensions (2D) are affected by Mermin-Wagner-type long wavelength thermal fluctuation, which is inconsequential in three dimensions (3D). We consider the question of whether the effect of spatial dimension on dynamics is only limited to such fluctuations or if the nature of glassy dynamics is intrinsically different in 2D. To address it, we study the relationship between dynamics and thermodynamics using the Adam-Gibbs (AG) relation and the random first order transition (RFOT) theory. Using two model glass-forming liquids, we find that even after removing the effect of long wavelength fluctuations, the AG relation breaks down in two dimensions. Next, we consider the effect of anharmonicity of vibrational entropy-a second factor that affects the thermodynamics but not dynamics. Using the potential energy landscape formalism, we explicitly compute the configurational entropy, both with and without the anharmonic correction. We show that even with both the corrections, the AG relation still breaks down in 2D. The extent of deviation from the AG relation crucially depends on the attractive vs repulsive nature of interparticle interactions, choice of representative timescale (diffusion coefficient vs α-relaxation time), and implies that the RFOT scaling exponents also depend on these factors. Thus, our results suggest that some differences in the nature of glassy dynamics between 2D and 3D remain that are not explained by long wavelength fluctuations.