Indian-American Abhijit Banerjee, Esther Duflo and Michael Kremer Win Nobel Prize For Economics
The 2019 Nobel Prize for Economics was on October 14 awarded to Abhijit Banerjee Esther Duflo and Michael Kremer for their experimental approach to alleviating global poverty. The research conducted by this years Laureates has considerably improved our ability to fight global poverty said the Nobel committee in a statement.
The 2019 Nobel Prize for Economics was on October 14 awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer for their experimental approach to alleviating global poverty."
"The research conducted by this year's Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research," said the Nobel committee in a statement.
BREAKING NEWS:
¡ª The Nobel Prize (@NobelPrize) October 14, 2019
The 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer ¡°for their experimental approach to alleviating global poverty.¡±#NobelPrize pic.twitter.com/SuJfPoRe2N
The research conducted by the 2019 Economic Sciences Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research.#NobelPrize pic.twitter.com/mYOdoudVij
¡ª The Nobel Prize (@NobelPrize) October 14, 2019
In another tweet, The Nobel Prize Twitter handle said: ¡°In the mid-1990s, Economic Sciences Laureate Michael Kremer and his colleagues demonstrated how powerful an experiment-based approach can be, using field experiments to test a range of interventions that could improve school results in western Kenya.¡±
The Nobel Prize/Twitter
¡°Abhijit Banerjee and Esther Duflo, often with Michael Kremer, soon performed similar studies of other issues and in other countries, including India. Their experimental research methods now entirely dominate development economics,¡± the committee added in another tweet.
Fifty-eight-year-old Banerjee, was born in Kolkata and attended the South Point School and Presidency College, Calcutta, where he completed his BS degree in economics in 1981.
Later, he completed his MA in economics at the Jawaharlal Nehru University, Delhi in 1983. He went on to obtain a PhD in economics at Harvard in 1988.
BCCL
He is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology, according to his profile on the MIT website.
In 2003, Banerjee founded the Abdul Latif Jameel Poverty Action Lab (J-PAL), along with Duflo and Sendhil Mullainathan, and he remains one of the lab's directors.
He also served on the UN Secretary-General's High-level Panel of Eminent Persons on the Post-2015 Development Agenda.