Michael Kremer, a 2019 Nobel laureate and Harvard-trained economist, has been appointed Chief Economist of the World Bank and will begin on October 1. He will lead the Bank's research and analytical work and represent it internationally. Kremer—currently at the University of Chicago—is known for empirical research on growth, technology and development and for testing interventions at scale. He succeeds Indermit Gill, who left in late August.
Michael Kremer Named World Bank Chief Economist — Nobel Laureate to Lead Research from Oct. 1
FILE PHOTO - The logo of "The World Bank" is seen at the headquarters in Washington. (is associated with: «World Bank names new top economist») Rainer Jensen/dpa
Michael Kremer, a 2019 Nobel laureate in Economic Sciences, will become the World Bank's new Chief Economist and assume responsibility for the institution's research and analytical work on October 1, the Washington-based lender announced on Wednesday.
As Chief Economist, Kremer will represent the World Bank on the international stage, lead its research agenda and contribute to the Bank's influential reports that shape development policy and funding priorities.
“Michael has spent his career not just identifying what works in development, but proving it at scale — and that is exactly the kind of thinking we need,”
— World Bank Group President Ajay Banga.
A Harvard-trained economist currently based at the University of Chicago, Kremer is known for empirical work on economic growth, technological change and development economics. His research emphasizes randomized evaluations and scalable interventions to improve outcomes in low-income settings.
In 2019, Kremer shared the Nobel Prize in Economic Sciences with Abhijit Banerjee and Esther Duflo for research that advanced efforts to reduce global poverty by rigorously testing which interventions are most effective.
He succeeds Indermit Gill, who left the World Bank in late August. Kremer takes on the role at a moment when the institution has highlighted the need for bold, evidence-based solutions to pressing global development challenges, including poverty reduction, climate resilience and technology-driven growth.
What to expect: Kremer's appointment signals continued emphasis on rigorous empirical research, scaling proven interventions and using evidence to inform policy decisions across the Bank's country programs.
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