Three share Nobel Prize in economics for work to alleviate poverty

The Nobel prize in economics has been awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty”.

The Royal Swedish Academy of Sciences announced the prize on Monday.

The prize, officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, was not created by the prize founder, but it is considered to be part of the Nobel stable of awards.

The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later.

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