Nobel Prize in economics awarded to trio for work on poverty

Economists Abhijit Banerjee, Esther Duflo and Michael Kremer have won the 2019 Nobel Economics Prize for research on alleviating global poverty.

"This year's Laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty," the Royal Swedish Academy of Sciences said on Monday.

Banerjee and Duflo are professors at the Massachusetts Institute of Technology while Kremer is the Gates Professor of Developing Societies in the Department of Economics at Harvard University.

They have been awarded for developing a method to identify the causes of poverty and analyse the costs and benefits of policy interventions through field studies.