Erica M. Field | |
---|---|
Born | February 12, 1974 |
Alma mater | Vassar College, Princeton University |
Awards | Elaine Bennett Research Prize, 2010 |
Scientific career | |
Fields | Economics |
Institutions | Hoover Institution, Institute for Advanced Study, Harvard University, Duke University |
Doctoral advisors | Henry Farber Anne Case |
Website | https://sites.duke.edu/ericafield/ |
Erica Marie Field (born February 12, 1974) is an economist who currently works as a James B. Duke Distinguished Professor of economics at Duke University. [1] Her research interests include development economics, labour economics, and health economics. [2] In 2010, her research was awarded the Elaine Bennett Research Prize. [3]
Erica Field earned a BA in Economics and Latin American Studies from Vassar College in 1996. As a Fulbright scholar, she then studied the impact of government programs in Peru on that country's labor force, before returning to school at Princeton University, where she completed her PhD in 2003 with a thesis on the impact of land-title reform on labor supply in Peru. [4] After her graduation and a term as post-doctoral fellow as RWJ Scholar in Health Policy at Harvard University, she remained as assistant professor of economics (2005–09), being later promoted to John L. Loeb Associate Professor of Social Sciences (2010–11). In 2011, Field moved to Duke University as associate professor of Economics and Global Health before becoming a full professor in 2015. In parallel, she has held visiting appointments at the Center for Health and Wellbeing and at the Institute for Advanced Study. She also maintains affiliations as a fellow with the National Bureau of Economic Research (NBER) and the Bureau for Research in Economic Analysis of Development (BREAD) as well as with the Abdul Latif Jameel Poverty Action Lab (J-PAL). Moreover, she performs editorial duties for the academic journals Economic Development and Cultural Change , Review of Economics and Statistics , and Journal of Development Economics . Finally, she has worked as a consultant for USAID, World Bank, Asian Development Bank, and the Millennium Challenge Corporation, among others. [5]
Erica Field's research focuses on development economics, labour economics, economic demography, and health. [6] Her research has been acknowledged through several awards, including the Albert Rees Prize for Outstanding PhD Dissertation in Labor Economics, [7] an Alfred P. Sloan Fellowship and the Elaine Bennett Research Prize. [8]
A substantial body of Field's research concerns the effects of property rights. In Peru, she finds the issuance of property titles to urban squatters to increase the rate of housing renovation by over two-thirds, with most of the investment being financed through savings. [9] Similarly, she finds stronger property rights in Peru to also induce strong increases in working hours, shifts from home-based work to external work, and substitution of child labour by adult labour. [10] Moreover, in work with Maximo Torero, she finds that private sector banks fail to increase their rate of loan approval for individuals with property titles, even though they are on average offered lower interest rates; by contrast, possessing a property title raises approval rates for public sector loans by up to 12%, especially if the title is requested. [11]
Another important of Field's research, within which she frequently collaborates with Rohini Pande, revolves around microfinance and entrepreneurship in India. Investigating the relationship between repayment frequency and default on microfinance loans, they find that the repayment schedule, e.g. how often repayments are made, doesn't affect borrowers' default or delinquency, suggesting that more flexible repayment schedules may lower transaction costs without increasing default. [12] In work with Seema Jayachandran, they also find evidence that patriarchic gender norms in India constrain female entrepreneurship, with Muslim women (the sociocultural group with the most restrictions) being unable to benefit from business training. [13] Moreover, together with Benjamin Feigenberg, Field and Pande observe strong economic returns to social interaction, as the frequency of meetings between repayment group members – but not the frequency of repayments – increases their willingness to pool risks and reduces their default rates. [14] [15] Finally, along with John Papp and Natalia Rigol, Field and Pande find that delaying the beginning of the repayment schedule for microloans raises short-run business investment and long-run profits but also raises default rates, suggesting that credits with early repayment discourage investment into illiquid yet high-return business opportunities and may thus stifle microenterprise growth. [16]
Other topics of Field's research include the impacts of early marriage and iodine deficiency on schooling attainment, the relationship between educational debt burden and career choice as well as between household bargaining and excess fertility, and the effects of providing health insurance to the informal sector. In work with Attila Ambrus, she finds that each additional year by which marriage is delayed among Bangladeshi women is associated with 0.22 additional years of schooling, a 5.6% higher likelihood to be literate, and that delayed marriage is generally associated with a higher use of preventive health services. [17] Together with Omar Robles and Maximo Torero, Field estimates that giving pregnant women strong iodine supplements increases the schooling by 0.35–0.56 years relative to their siblings and older and younger peers, with the effect being particularly large for girls. [18] In an experiment at NYU Law School, Field finds that offering students a debt-free education doubles law school enrollment rates and substantially biases students towards public interest law. [19] In Zambia, together with Nava Ashraf and Jean Lee, Field finds that women who are given concealable contraceptives in the presence of their husbands are 19% less likely to seek family planning services, 25% less likely to use the contraceptives, and 17% more likely to give birth. [20]
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real and nominal gross domestic product (GDP).
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, and a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled nearly US$40 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent. The first economist who had invented the idea of micro loans was The Very Reverend Jonathan Swift in the 1720’s. Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983 by their current Chief Adviser Muhammad Yunus. Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries and is presented as having "enormous potential as a tool for poverty alleviation." Microcredit is a tool that can possibly be helpful to reduce feminization of poverty in developing countries.
Field experiments are experiments carried out outside of laboratory settings.
Esther Duflo, FBA is a French-American economist currently serving as the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology (MIT). In 2019, she was jointly awarded the Nobel Memorial Prize in Economic Sciences alongside Abhijit Banerjee and Michael Kremer "for their experimental approach to alleviating global poverty".
The Abdul Latif Jameel Poverty Action Lab (J-PAL) is a global research center based at the Massachusetts Institute of Technology aimed to reducing poverty by ensuring that policy is informed by rigorous, scientific evidence. J-PAL funds, provides technical support to, and disseminates the results of randomized controlled trials evaluating the efficacy of social interventions in health, education, agriculture, and a range of other fields. As of 2020, the J-PAL network consisted of 500 researchers and 400 staff, and the organization's programs had impacted over 400 million people globally. The organization has regional offices in seven countries around the world, and is headquartered near the Massachusetts Institute of Technology in Cambridge, Massachusetts.
Rohini Pande is an economist who is currently the Henry J. Heinz II Professor of Economics and Director of the Economic Growth Center at Yale University. She was previously the Rafik Hariri Professor of International Political Economy and Mohammed Kamal Professor of Public Policy at Harvard Kennedy School. Pande was the Co-Director of Center for International Development at Harvard University's Evidence for Policy Design research program (EPoD) and serves on the board of directors of the Abdul Latif Jameel Poverty Action Lab, MIT. She also serves on the board of the Bureau for Research and Economic Analysis of Development (BREAD), the Committee on the Status of Women in the Economic Profession (CSWEP) and as a co-editor of the American Economic Association's (AEA) journal American Economic Review: Insights. She is a Faculty Research Associate at NBER, CEPR and the IFPRI. Her research focuses on the economic analysis of the politics and consequences of different forms of redistribution, principally in developing countries. Her outstanding and empirical findings in fields of governance and accountability, women’s empowerment, role of credit in poverty, the economic aspects of the environment and the potential of policy design in these areas, won her the Infosys Prize 2022 in Social Sciences.
The impact of microcredit is the study of microcredit and its impact on poverty reduction which is a subject of much controversy. Proponents state that it reduces poverty through higher employment and higher incomes. This is expected to lead to improved nutrition and improved education of the borrowers' children. Some argue that microcredit empowers women. In the US and Canada, it is argued that microcredit helps recipients to graduate from welfare programs. Critics say that microcredit has not increased incomes, but has driven poor households into a debt trap, in some cases even leading to suicide. They add that the money from loans is often used for durable consumer goods or consumption instead of being used for productive investments, that it fails to empower women, and that it has not improved health or education.
Robin Burgess is a British economist who is Professor of Economics, Co-founder and Director of the International Growth Centre, as well as Co-Founder and Director of the Economics of Energy and the Environment (EEE) program at the London School of Economics and Political Science.
Marianne Bertrand is a Belgian economist who currently works as Chris P. Dialynas Distinguished Service Professor of Economics and Willard Graham Faculty Scholar at the University of Chicago's Booth School of Business. Bertrand belongs to the world's most prominent labour economists in terms of research, and has been awarded the 2004 Elaine Bennett Research Prize and the 2012 Sherwin Rosen Prize for Outstanding Contributions in the Field of Labor Economics. She is a research fellow of the National Bureau of Economic Research, and the IZA Institute of Labor Economics.
Philip Oreopoulos is an economist who currently serves as Professor of Economics and Public Policy at the University of Toronto. Oreopoulos's research focuses on the economics of education, labour economics, and public finance.
Nava Ashraf, is a Canadian economist and academic. She is Professor of Economics at the London School of Economics, as well as research director of the Marshall Institute for Philanthropy and Social Entrepreneurship. Her research interests include development economics, behavioral economics, and family economics.
Paul William Glewwe is an economist and Professor of Applied Economics at the University of Minnesota. His research interests include economic development and growth, the economics of the public sector, and poverty and welfare. He formerly was the Director of the Center for International Food and Agricultural Policy and served as co-chair of the education programme of the Abdul Latif Jameel Poverty Action Lab (J-PAL).
Maximo Torero is a Peruvian economist. He is currently the chief economist and assistant director general for the Economic and Social Development Department at the Food and Agriculture Organization of the United Nations (FAO) in Rome, Italy.
Victor Chaim Lavy is an Israeli economist and professor at the University of Warwick and the Hebrew University of Jerusalem. His research interests include labour economics, the economics of education, and development economics. Lavy belongs to the most prominent education economists in the world.
Jere Richard Behrman is an American economist and the William R. Kenan Jr. Professor of Economics at the University of Pennsylvania. He belongs to the world's most prominent development and education economists and human capital scholars, with a strong focus on Central and South America.
Mark Richard Rosenzweig is an economist and the Frank Altschul Professor of International Economics at Yale University, where he also directs the Economic Growth Center. Rosenzweig belongs to the world's most prominent agricultural and development economists, and is one of the leading scholars on the subjects of the economics of insurance and migration.
Uwe Sunde is a German economist and currently Professor of Economics at the Ludwig Maximilian University of Munich (LMU) as well as a Research Professor in the ifo Center for Labour and Demographic Economics. Sunde's research interests include long-term development and growth, political economy, labour economics, population economics, and behavioural economics. In 2015, his research on risk preferences and on the role of life expectancy and human capital for long-term economic development earned him the Gossen Prize.
Seema Jayachandran is an economist who currently works as Professor of Economics at Princeton University. Her research interests include development economics, health economics, and labor economics.
VFS Capital Limited formerly known as Village Financial Services Ltd (VFS), is headquartered in Kolkata, was incorporated on 28 June 1994, as a private limited company before it got its present name.
Emily Louise Breza is an American development economist currently serving as the Frederic E. Abbe Professor of Economics at Harvard University. She is a board member at the Abdul Latif Jameel Poverty Action Lab, and an affiliated researcher at the International Growth Centre and National Bureau of Economic Research. Breza's primary research interests are in development economics, in particular the interplay between social networks and household finance. She is the recipient of a Sloan Research Fellowship.