Banerjee, Duflo, Kremer, and the Rise of Modern Development Economics
Name
200505 Nobel Prize Paper.pdf
Description
Accepted version
Size
400.83 KB
Format
Adobe PDF
Checksum (MD5)
41534abc7f4bd4ed713a0f802a9a14de
Author(s)
Olken, Benjamin
Date Issued
July 2020
Journal
Scandinavian Journal of Economics
Publisher
Wiley
Citation
Olken, Benjamin A. "Banerjee, Duflo, Kremer, and the Rise of Modern Development Economics." Scandinavian Journal of Economics 122, 3 (July 2020): 853-878 © 2020 Editors of The Scandinavian Journal of Economics
Version
Author's final manuscript
Abstract
In 2019, Abhijit Banerjee, Esther Duflo, and Michael Kremer received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. These three scholars were recognized “for their experimental approach to alleviating global poverty”. This paper reviews the contributions of these three scholars in the field of development economics, to put this contribution in perspective. I highlight how the experimental approach helped to break down the challenges of understanding economic development into a number of component pieces, and I contrast this to understanding development using macroeconomic aggregates. I discuss pioneering contributions in understanding the challenges of education, service delivery, and credit markets in developing countries, as well as how the experimental approach has spread to virtually all aspects of development economics.
MIT Department
Massachusetts Institute of Technology. Department of Economics
Terms of Use
Creative Commons Attribution-Noncommercial-Share Alike
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1111/sjoe.12418
