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Alfred Nobel Prize in Economics awarded for efforts to combat global poverty

The prize was awarded to economists from France, India and the USA.

The prize of the Swedish National Bank for Economic Sciences in memory of Alfred Nobel in 2019 was awarded to researchers Esther Duflo, Abigit Banerji and Michael Kremer. The Swedish Academy noted them for their “experimental approach to reducing global poverty”.

The Academy noted the poverty studies that the laureates have been doing for 20 years. Their experiments gave impetus to the development economy, which has now become a separate area of ​​research. The laureates proposed combating world poverty in a new way – dividing the global problem into smaller tasks.

In the mid-1990s, Kremer and his colleagues demonstrated how powerful an experimental approach can be. Through field experiments, they tested new methods that helped improve student performance in schools in western Kenya.

Abigit Banerjee and Esther Duflo conducted similar studies on other issues in other countries, including India. Their experimental research methods currently completely dominate the development economy.

The results of studies by the laureates of economic sciences in 2019 significantly enriched poverty reduction methods. One study has helped improve the education program for more than 5 million children in India.

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