Nobel Prize in Economic Sciences 2019: Poverty Alleviation and Experiments in Development Economics

Abstract

In this paper, the results of empirical studies by Nobel Prize laureates in Economic Sciences 2019 Michael Kremer, Abhijit Banerjee and Esther Duflo are discussed. Field experiments in education and healthcare systems as well as in the financial and technological areas made it possible to evaluate differently the effectiveness of traditional instruments of economic and social policy in poor countries, offering new, better practices and reforms aimed at poverty alleviation. In addition to the relevance of the findings in politics, the experiments by the laureates provided development economics with powerful analytical and methodological tools, forming the foundation for future academic investigations in this branch of economics.

Keywords

• nobel prize
• laureates
• development economics
• experiment
• poverty
• poor countries