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Abhijit Vinayak Banerjee (pronounced [obʱidʒit banɔrdʒi]) (born 21 February 1961) is an American economist,[5][6] who is the Ford Foundation International Professor of Economics at Massachusetts Institute of Technology. Banerjee shared the 2019 Nobel Memorial Prize in Economic Sciences with Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty".[7][8] He, along with his wife Esther Duflo, are the sixth married couple to jointly win a Nobel Prize.[9][10][11]

Abhijit Vinayak Banerjee
Abhijit Banerjee FT Goldman Sachs Business Book of the Year Award 2011 (cropped).jpg
Born
Abhijit Vinayak Banerjee

(1961-02-21) 21 February 1961 (age 58)
Citizenship
EducationSouth Point School
Presidency College, Kolkata
University of Calcutta (BSc)
Jawaharlal Nehru University (MA)
Harvard University (PhD)
Spouse(s)Arundhati Tuli (divorced)
Esther Duflo (2015–present)
Children3
AwardsNobel Memorial Prize in Economic Sciences (2019)
Scientific career
FieldsDevelopment economics
InstitutionsMassachusetts Institute of Technology
Doctoral advisorEric Maskin
Doctoral studentsEsther Duflo[1]
Dean Karlan[2]
Benjamin Jones[3]
Nancy Qian[4]

Banerjee is a co-founder of Abdul Latif Jameel Poverty Action Lab (along with economists Esther Duflo and Sendhil Mullainathan).[12] He is a research affiliate of Innovations for Poverty Action and a member of the Consortium on Financial Systems and Poverty. Banerjee was a president of the Bureau for the Research in the Economic Analysis of Development, a research associate of the National Bureau of Economic Research, a research fellow at the Centre for Economic Policy Research, an international research fellow of the Kiel Institute, fellow at the American Academy of Arts and Sciences, and a fellow at the Econometric Society. He also has been a Guggenheim Fellow and an Alfred P. Sloan Fellow. He is the co-author of Poor Economics. He also serves on the academic advisory board of Plaksha University, an upcoming science and technology university in India.[13] His new book, co-authored with Esther Duflo, Good Economics for Hard Times, was released in October 2019 in India by Juggernaut Books.[14]

Early lifeEdit

Banerjee s was born in Mumbai, India,[15][16][17][18] to Nirmala Banerjee (née Patankar), a Marathi[19][20] and a professor of economics at the Centre for Studies in Social Sciences, Calcutta,[21] and Dipak Banerjee, a Bengali professor and the head of the Department of Economics at Presidency College, Calcutta.[22]

He received his school education in South Point High School, a renowned educational institution in Kolkata. After his schooling, he took admission in the University of Calcutta in Presidency College, Kolkata where he completed his B.Sc.(H) degree in economics in 1981. Later, he completed his M.A. in economics at the Jawaharlal Nehru University, Delhi in 1983.[23] During his JNU days, he was arrested and jailed in Tihar Jail during a protest after students 'gheraoed' the then Vice Chancellor PN Srivastava of JNU . He was released on bail and charges were dropped against the students.[24][25][26] Later, he went on to obtain a Ph.D. in Economics at Harvard University in 1988.[5] The subject of his doctoral thesis was "Essays in Information Economics."[27]

CareerEdit

Banerjee is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology;[28] he has taught at Harvard University and Princeton University.[29]

His work focuses on development economics. Together with Esther Duflo he has discussed field experiments as an important methodology to discover causal relationships in economics.[30] He was elected a fellow of the American Academy of Arts and Sciences in 2004.[31] He also was honoured with the Infosys Prize 2009 in the social sciences category of economics. He is also the recipient of the inaugural Infosys Prize in the category of social sciences (economics).[32] In 2012, he shared the Gerald Loeb Award Honorable Mention for Business Book with co-author Esther Duflo for their book Poor Economics.[33]

In 2013, he was named by United Nations Secretary General Ban Ki-Moon to a panel of experts tasked with updating the Millennium Development Goals after 2015 (their expiration date).[34]

In 2014, he received the Bernhard-Harms-Prize from the Kiel Institute for the World Economy.[35]

In 2019, he delivered Export-Import Bank Of India's 34th Commencement Day Annual Lecture on Redesigning Social Policy.[36]

In 2019, he was awarded the Nobel Prize in Economics, together with Esther Duflo and Michael Kremer, for their work alleviating global poverty.[37][38]

ResearchEdit

Banerjee and his co-workers try to measure the effectiveness of actions (such as government programmes) in improving people's lives. For this, they use randomized controlled trials, similar to clinical trials in medical research.[39] For example, although polio vaccination is freely available in India, many mothers were not bringing their children for the vaccination drives. Banerjee and Prof. Esther Duflo, also from MIT, tried an experiment in Rajasthan, where they gifted a bag of pulses to mothers who vaccinated their children. Soon, the immunisation rate went up in the region. In another experiment, they found that learning outcomes improved in schools that were provided with teaching assistants to help students with special needs.[40]

Personal lifeEdit

Abhijit Banerjee was married to Dr. Arundhati Tuli Banerjee, a lecturer of literature at MIT.[41][42] Abhijit and Arundhati had one son together and later divorced.[41] His son Kabir Banerjee (born 1991), from his first marriage, died of an accident in 2016. In 2015, Banerjee married his co-researcher, MIT professor Esther Duflo; they have two children.[43][44] Banerjee was a joint supervisor of Duflo's PhD in economics at MIT in 1999.[43][45] Duflo is also a Professor of Poverty Alleviation and Development Economics at MIT.[46]

PublicationsEdit

BooksEdit

  • Aghion, Philippe; Banerjee, Abhijit (2005). Volatility And Growth. Oxford: Oxford University Press. ISBN 9780199248612.
  • Banerjee, Abhijit Vinayak; Bénabou, Roland; Mookherjee, Dilip, eds. (2006). Understanding Poverty. Oxford; New York: Oxford University Press. ISBN 9780195305203.
  • Banerjee, Abhijit Vinayak (2005). Making Aid Work. Cambridge: MIT Press. ISBN 9780262026154.
  • Banerjee, Abhijit V.; Duflo, Esther (2011). Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty. New York: PublicAffairs. ISBN 9781610390408.
  • Banerjee, Abhijit Vinayak; Duflo, Esther, eds. (2017). Handbook of Field Experiments, Volume 1. North–Holland (an imprint of Elsevier). ISBN 9780444633248.
  • Banerjee, Abhijit Vinayak; Duflo, Esther, eds. (2017). Handbook of Field Experiments, Volume 2. North–Holland (an imprint of Elsevier). ISBN 9780444640116.
  • Banerjee, Abhijit Vinayak ( 2019 ). A Short History of Poverty Measurements . Juggernaut Books.
  • Banerjee, Abhijit V.; Duflo, Esther (2019). Good Economics for Hard Times. PublicAffairs. ISBN 9781541762879.

AwardsEdit

Nobel prize in Economic SciencesEdit

Abhijit Banerjee was awarded the Nobel Prize in Economics in 2019 along with his two co-researchers Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty".[47]

The press release from the Royal Swedish Academy of Sciences noted: "Their experimental research methods now entirely dominate development economics."[48][49]

The Nobel committee commented:

"Banerjee, Duflo and their co-authors concluded that students appeared to learn nothing from additional days at school. Neither did spending on textbooks seem to boost learning, even though the schools in Kenya lacked many essential inputs. Moreover, in the Indian context Banerjee and Duflo intended to study, many children appeared to learn little: in results from field tests in the city of Vadodara fewer than one in five third-grade students could correctly answer first-grade curriculum math test questions.[49]
"In response to such findings, Banerjee, Duflo and co-authors argued that efforts to get more children into school must be complemented by reforms to improve school quality."[49]

See AlsoEdit

ReferencesEdit

  1. ^ Duflo, Esther (1999), Essays in empirical development economics. Ph.D. dissertation, Massachusetts Institute of Technology.
  2. ^ Karlan, Dean S. (2002), Social capital and microfinance. Ph.D. dissertation, Massachusetts Institute of Technology.
  3. ^ Jones, Benjamin (2003), Essays on innovation, leadership, and growth. Ph.D. dissertation, Massachusetts Institute of Technology.
  4. ^ Qian, Nancy (2005), Three Essays on Development Economics in China. Ph.D. dissertation, Massachusetts Institute of Technology.
  5. ^ a b "Abhijit Vinayak Banerjee Economics Department MIT". Massachusetts Institute of Technology. 14 October 2019. Retrieved 14 October 2019.
  6. ^ "Economics Nobel for Indian-American | Tribune India". tribuneindia.com. 15 October 2019. Retrieved 15 October 2019.
  7. ^ "The Prize in Economic Sciences 2019" (PDF) (Press release). Royal Swedish Academy of Sciences. 14 October 2019.
  8. ^ Desk, The Hindu Net (14 October 2019). "Abhijit Banerjee among three to receive Economics Nobel". The Hindu. ISSN 0971-751X. Retrieved 14 October 2019.
  9. ^ "Abhijit Banerjee, Esther Duflo Winning the Nobel Prize Together is #CoupleGoals". News 18. 14 October 2019. Retrieved 14 October 2019.
  10. ^ Hannon, Dominic Chopping and Paul. "Nobel Prize in Economics Awarded for Work Alleviating Poverty". WSJ. Retrieved 14 October 2019.
  11. ^ "Abhijit Banerjee Facts". Nobel Prize. Retrieved 20 October 2019.
  12. ^ "Abhijit Banerjee, Esther Duflo and Michael Kremer win 2019 Nobel Economics Prize". The Times of India. 14 October 2019. Retrieved 15 October 2019.
  13. ^ "Plaksha University". plaksha.org. Retrieved 14 October 2019.
  14. ^ Good Economics for Hard Times by Abhijit V. Banerjee and Esther Duflo. PublicAffairs. 5 March 2019. Retrieved 16 October 2019.
  15. ^ "Abhijit Banerjee, Esther Duflo and Michael Kremer win Nobel in Economics". The Economic Times. 14 October 2019. Retrieved 14 October 2019.
  16. ^ "Mumbai-born Abhijit Banerjee wins Economics Nobel, over 5 mn Indian kids benefited from his study". The Statesman. 14 October 2019. Retrieved 14 October 2019.
  17. ^ "Nobel Prize in economics awarded to trio for work on poverty. One is the youngest winner ever". Hanna Ziady. CNN. 14 October 2019. Retrieved 14 October 2019.
  18. ^ "Indian-origin prof wins Economics Nobel for poverty research". Outlook. 14 October 2019. Retrieved 14 October 2019.
  19. ^ "Never thought he would win the award so young, says proud mom of Abhijit Vinayak Banerjee | Kolkata News". The Times of India. Retrieved 15 October 2019.
  20. ^ "Abhijit likes cinema, music, cooking & walking: Mother". www.telegraphindia.com. Retrieved 21 October 2019.
  21. ^ Bagchi, Suvojit (15 October 2019). "Just happy, says Abhijit Banerjee's economist-mother". The Hindu. ISSN 0971-751X. Retrieved 15 October 2019.
  22. ^ Javed, Zeeshan; Ghosh, Dwaipayan; Basu, Somdatta. "Abhijit Banerjee moved from Statistical Institute to Presidency". The Times of India. Retrieved 15 October 2019.
  23. ^ "Abhijit Banerjee Short Bio". Massachusetts Institute of Technology • Department of Economics. 24 October 2017. Retrieved 24 October 2017.
  24. ^ "When Nobel Laureate Abhijit Banerjee was Jailed in Tihar for 'Gheraoing' JNU Vice Chancellor". News18. 14 October 2019. Retrieved 14 October 2019.
  25. ^ "Abhijit Banerjee: Some personal recollections". The Economic Times. 14 October 2019. Retrieved 14 October 2019.
  26. ^ "The Nobel Laureate in Jail!". Shemin Joy. Deccan Herald. 14 October 2019. Retrieved 14 October 2019.
  27. ^ "Abhijit Banerjee CV". economics.mit.edu. Retrieved 15 October 2019.
  28. ^ "Abhijit Banerjee – Short Bio". economics.mit.edu. Retrieved 15 October 2019.
  29. ^ "MIT economists Esther Duflo and Abhijit Banerjee win Nobel Prize". MIT News. Retrieved 15 October 2019.
  30. ^ Banerjee, Abhijit V; Duflo, Esther (November 2008). "The Experimental Approach to Development Economics". nber.org. National Bureau of Economic Research. doi:10.3386/w14467. Retrieved 15 October 2019.
  31. ^ "Book of Members, 1780–2010: Chapter B" (PDF). American Academy of Arts and Sciences. Retrieved 17 May 2011.
  32. ^ "Infosys Prize 2009 – Social Sciences – Economics". Archived from the original on 17 May 2011. Retrieved 14 October 2019.
  33. ^ "UCLA Anderson Announces 2012 Gerald Loeb Award Winners". UCLA Anderson School of Management. 26 June 2012. Retrieved 2 February 2019.
  34. ^ "Ban names high-level panel to map out 'bold' vision for future global development efforts". 31 July 2012. Retrieved 6 November 2013.
  35. ^ "Bernhard Harms Prize 2014". ifw-kiel.de. Retrieved 15 October 2019.
  36. ^ India, Press Trust of (9 January 2019). "Make govt jobs less cushy: MIT economist Abhijit Banerjee on 10% quota". Business Standard India. Retrieved 14 October 2019 – via Business Standard.
  37. ^ "Abhijit Banerjee, Esther Duflo, Michael Kremer awarded Nobel prize for Economics". Newsd www.newsd.in. Retrieved 14 October 2019.
  38. ^ "Indian-American Economist Abhijit Banerjee Among 3 Awarded Nobel Prize for Fighting Poverty". News18. Retrieved 14 October 2019.
  39. ^ Cho, Adrian (14 October 2019). "Economics Nobel honors trio taking an experimental approach to fighting poverty". Science. Retrieved 16 October 2019. To bring some science to the fight against poverty, the three researchers borrowed a key tool from clinical medicine: the randomized controlled trial. [They] have used trials to test interventions in education, health, agriculture, and access to credit.
  40. ^ "Economics of poverty: On Economic Sciences' Nobel". The Hindu. Retrieved 21 October 2019.
  41. ^ a b "Malcolm Adiseshiah Award 2001, A Profile: Abhijit Vinayak Banerjee" (PDF). Malcolm & Elizabeth Adiseshiah Trust & Madras Institute of Development Studies (MIDS). 2001. Archived from the original (PDF) on 8 July 2017. Retrieved 27 April 2019.
  42. ^ "Global Studies and Languages, Biography: Arundhati Tuli Banerjee". MIT. 18 August 2018. Archived from the original on 18 August 2018. Retrieved 27 April 2019.
  43. ^ a b Gapper, John (16 March 2012). "Lunch with the FT: Esther Duflo". Financial Times. Archived from the original on 5 November 2018. Retrieved 28 April 2019.
  44. ^ "Esther's baby". Project Syndicate. 23 March 2012. Archived from the original on 27 November 2015. Retrieved 28 April 2019.
  45. ^ "Our focus is to enrol people suffering from lack of identity: Nandan Nilekani". The Times of India. 6 July 2010.
  46. ^ "Esther Duflo CV". Esther Duflo at MIT. 2018. Archived from the original on 9 August 2018. Retrieved 27 April 2019.
  47. ^ Johnson, Simon; Pollard, Niklas (14 October 2019). "Trio wins economics Nobel for science-based poverty fight". Reuters.
  48. ^ "The Prize in Economic Sciences 2019" (PDF). Royal Swedish Academy of Sciences: Nobel prize. 14 October 2019. Retrieved 14 October 2019.
  49. ^ a b c "Nobel Prize in Economics won by Banerjee, Duflo and Kremer for fighting poverty". The Guardian. 14 October 2019.

External linksEdit