4 hrs ago
World Bank Names Nobel Laureate Michael Kremer Chief Economist
The World Bank has chosen economist Michael Kremer to become its next chief economist.
He will start on October 1.
Kremer won a Nobel Prize in 2019 for research on reducing poverty.
His work tests programs to see which ideas help people most.
Some of his projects have supported farmers, schools, vaccines, and health programs.
He believes new technology can help countries grow and solve problems.
World Bank President Ajay Banga said Kremer can help develop solutions that work on a large scale.
Kremer is joining while many developing countries face financial and development challenges.
He is the first person to become a World Bank chief economist after already winning a Nobel Prize.
The World Bank appointed University of Chicago professor Michael Kremer as its next chief economist.
Kremer will begin the role on October 1, succeeding Indermit Gill, who retired last month.
He won the 2019 Nobel Prize in Economic Sciences with Esther Duflo and Abhijit Banerjee.
Kremer’s research has focused on scalable solutions in education, health, agriculture, finance, and water.
He will join the World Bank as developing countries face higher interest rates, energy prices, and reduced development assistance.
- Who
- Michael Kremer, a Nobel laureate and University of Chicago professor, was appointed by the World Bank.
- What
- He was named the World Bank’s next chief economist, succeeding Indermit Gill.
- Where
- The role is at the World Bank; he will begin shortly before the World Bank and International Monetary Fund annual meetings in Bangkok, Thailand.
- When
- The appointment was announced on September 16, and Kremer will begin on October 1.
- Why
- The World Bank said it needs rigorous, scalable solutions to development challenges, including creating jobs for young people and improving growth.
Key facts
- Appointee
- Michael Kremer
- New position
- World Bank chief economist
- Start date
- October 1
- Predecessor
- Indermit Gill
- Nobel Prize
- 2019 Nobel Prize in Economic Sciences, jointly awarded with Esther Duflo and Abhijit Banerjee
- Current role
- Director of the Development Innovation Lab at the University of Chicago
- Annual meetings
- World Bank and International Monetary Fund meetings in Bangkok, Thailand
Quotes
Michael Kremer
Nobel laureate and incoming World Bank chief economist
“The World Bank Group has tremendous research capacity to develop and test innovative solutions to development problems—and the operational reach to scale them up and improve people’s lives”
theprint.in
“Michael has spent his career not just identifying what works in development, but proving it at scale — and that is exactly the kind of thinking we need”
theprint.in
Sources
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