Abhijit Banerjee, an Indian origin economist, has been awarded the Nobel Prize in Economics for the year 2019. The Royal Swedish Academy has decided to award Nobel Prize 2019 in Economics to three economists - Abhijit Banerjee and his wife Esther Duflo from MIT and Michael Kremer from Harvard.
Abhijit Banerjee and other laureates have been awarded for their research and experimental approach to alleviating global poverty. According to the press release of The Royal Swedish Academy of Sciences, in just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research.
