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Studying Poverty in Economics – The Work of the 2019 Nobel Prize Laureates

Author

Listed:
  • Klára Major

    (Corvinus University of Budapest)

Abstract

In 2019, the Nobel Prize in Economic Sciences was awarded jointly to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty”. Their work gave rise to the transformation of development economics both in terms of approach and methodology: the effect of the development programmes aimed at reducing poverty is now typically measured by randomised controlled trials, enabling researchers to reveal causal effects. Throughout their studies, the authors relentlessly seek the drivers of human behaviour with a view to enabling the design of effective development programmes based on a deeper understanding of the nutrition, health, education, finances, etc. of the poor.

Suggested Citation

  • Klára Major, 2020. "Studying Poverty in Economics – The Work of the 2019 Nobel Prize Laureates," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 19(1), pages 119-131.
    • Handle: RePEc:mnb:finrev:v:19:y:2020:i:1:p:119-131
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    References listed on IDEAS

    as
    1. Abhijit V. Banerjee & Shawn Cole & Esther Duflo & Leigh Linden, 2007. "Remedying Education: Evidence from Two Randomized Experiments in India," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(3), pages 1235-1264.
    2. Nobel Prize Committee, 2019. "Understanding development and poverty alleviation," Nobel Prize in Economics documents 2019-2, Nobel Prize Committee.
    3. Banerjee, Abhijit V. & Duflo, Esther, 2005. "Growth Theory through the Lens of Development Economics," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 7, pages 473-552, Elsevier.
    4. Abhijit V. Banerjee & Rukmini Banerji & Esther Duflo & Rachel Glennerster & Stuti Khemani, 2010. "Pitfalls of Participatory Programs: Evidence from a Randomized Evaluation in Education in India," American Economic Journal: Economic Policy, American Economic Association, vol. 2(1), pages 1-30, February.
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    Keywords

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    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments

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