Indian-American Abhijit Banerjee, Esther Duflo and Michael Kremer jointly won the 2019 Nobel Economics Prize on Monday, 14 October "for their experimental approach to alleviating global poverty." The Royal Swedish Academy of Sciences announced the prize on Monday.
"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, reports says.
Banerjee and Duflo are both at Massachusetts Institute of Technology while Kremer is at Harvard University.
Banerjee, 58, was educated at the University of Calcutta, Jawaharlal Nehru University and Harvard University, where he received his PhD in 1988. He also served on the UN Secretary-General's High-level Panel of Eminent Persons on the Post-2015 Development Agenda.
BREAKING NEWS:— 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