Nobel Economics Prize 2019: Abhijit Banerjee, wife Duflo, & Kremer win

bel prize in Ecomic Sciences for year 2019 has been awarded to Abhijit Banerjee, Esr Duflo, and Michael Kremer 'for ir experimental approach to alleviating global poverty'. Swedish Acemy anunced last set of this year’s bel prize which included an Indian-American.

Swedish Acemy said that winners have contributed towards ability to fight global poverty with ir work. “In just two deces, ir new experiment-based approach has transformed development ecomics, which is w a flourishing field of research,” said Acemy. Over 700 million people still subsist on extremely low incomes. Every year, five million children still die before ir fifth birthday, often from diseases that could be prevented or cured with relatively cheap and simple treatments,” it ded.

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Breakthrough for an Indian-American

Abhijit Banerjee, born 1961 in Mumbai, is a PhD holder from Harvard University, Cambridge, USA. Banerjee is a Ford Foundation International Professor of Ecomics at Massachusetts Institute of Techlogy.

“This year’s Laureates have introduced a new approach to obtaining reliable answers about best ways to fight global poverty,” said Acemy in a statement.

Kremer, along with his colleagues, used field experiments to test a range of interventions that could improve school results in western Kenya.

“Abhijit Banerjee and Esr Duflo, often with Michael Kremer, soon performed similar studies of or issues and in or countries. ir experimental research methods w entirely dominate development ecomics,” re release.

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Dulfo and Kremer

Esr Duflo, born 1972 in Paris, is an Abdul Latif Jameel Professor of Poverty Alleviation and Development Ecomics at Massachusetts Institute of Techlogy, Cambridge, and Michael Kremer, born in 1964, is a Gates Professor of Developing Societies at Harvard University, Cambridge.

According to Swedish Acemy, more than five million Indian children have benefitted from effective programmes of remedial tutoring in schools, which was a direct result of one of ir studies. "Ar example is heavy subsidies for preventive healthcare that have been introduced in many countries," said Acemy. prize amount of 9 million Swedish krona will be shared equally between bel Laureates.

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