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2020, vol. 49, iss. 1, pp. 75-86
Development economics in the fight against poverty
Udruženje banaka Srbije, Beograd
Keywords: Abhijit Banerjee; Esther Duflo; Michael Kremer; the Nobel Prize; development economics; poverty; the United Nations; the World Bank; sustainable development; experimental approach; education
Eradicating poverty in all its forms is one of the fundamental goals of the United Nations' plan for sustainable development. In this context, it is not surprising that the Swedish Royal Academy of Sciences has decided to award the 2019 Nobel Prize in Economic Sciences to the economists who have focused their research efforts in this direction. Namely, Abhijit Banerjee, Esther Duflo and Michael Kremer won the award "for their experimental approach to alleviating global poverty". By examining the different factors of each individual problem, as well as the behaviour of subjects in the natural environment, using the method of randomised controlled trials (RCTs), these three scientists came to concrete, practically applicable observations. The combination of these insights and an understanding of the local and institutional context provides solid guidance for development policies and enhances the capacity of international development organisations and institutions to record a visible impact in alleviating global poverty within the set deadlines.
Hoff, K. (2019) Changing the culture of economics: The 2019 Nobel laureates. Brookings, (accessed on 8 April 2020)
Katayama, R., Wadhwa, D. (2019) Half of the world's poor live in just 5 countries. (accessed on 8 April 2020) Press Release: The Prize in Economic Sciences 2019. (accessed on 8 April 2020)
The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel (2019) Popular science background: Research to help the world's poor. (accessed on 8 April 2020)
The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel (2019) Scientific background: Understanding development and poverty alleviation. (accessed on 8 April 2020)
United Nations Ending poverty. (accessed on 8 April 2020)
United Nations, General Assembly (2015) Transforming our world: The 2030 agenda for sustainable development. (accessed on 10 April 2020)


article language: Serbian, English
document type: Review Paper
DOI: 10.5937/bankarstvo2001075L
published in SCIndeks: 27/04/2020
Creative Commons License 4.0

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