Indian-American Abhijit Banerjee, Esther Duflo and Michael Kremer were declared joint winner of 2019 Nobel Economics Prize on Monday.
The trio have been recognized 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.
Banerjee, 58, is alumnus of University of Calcutta, Jawaharlal Nehru University and Harvard University, where he received his PhD in 1988.
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 Nobel Prize (@NobelPrize) October 14, 2019
Banerjee currently works as the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology.
He has also served on the UN Secretary-General’s High-level Panel of Eminent Persons on the Post-2015 Development Agenda.