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Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development,economic growth and structural change but also on improving the potential for the mass of the population,for example,through health,education and workplace conditions,whether through public or private channels.
Lawrence Robert Klein was an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics in the Department of Economics at the University of Pennsylvania,he was awarded the Nobel Memorial Prize in Economic Sciences in 1980 specifically "for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies." Due to his efforts,such models have become widespread among economists. Harvard University professor Martin Feldstein told the Wall Street Journal that Klein "was the first to create the statistical models that embodied Keynesian economics," tools still used by the Federal Reserve Bank and other central banks.
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago,some of whom have constructed and popularized its principles. Milton Friedman,and George Stigler are considered the leading scholars of the Chicago school.
Theodore William Schultz was an American agricultural economist and chairman of the University of Chicago Department of Economics. Schultz rose to national prominence after winning the 1979 Nobel Memorial Prize in Economic Sciences.
Aid effectiveness is the degree of success or failure of international aid. Concern with aid effectiveness might be at a high level of generality,or it might be more detailed.
Paul Michael Romer is an American economist and policy entrepreneur who is a University Professor in Economics at Boston College. Romer is best known as the former Chief Economist of the World Bank and for co-receiving the 2018 Nobel Memorial Prize in Economic Sciences for his work in endogenous growth theory. He also coined the term "mathiness," which he describes as misuse of mathematics in economic research.
Raghuram Govind Rajan is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School of Business. Between 2003 and 2006 he was Chief Economist and director of research at the International Monetary Fund. From September 2013 through September 2016 he was the 23rd Governor of the Reserve Bank of India. In 2015,during his tenure at the RBI,he became the Vice-Chairman of the Bank for International Settlements.
William Russell Easterly is an American economist,specializing in economic development. He is a professor of economics at New York University,joint with Africa House,and co-director of NYU’s Development Research Institute. He is a Research Associate of NBER,senior fellow at the Bureau for Research and Economic Analysis of Development (BREAD) of Duke University,and a nonresident senior fellow at the Brookings Institution in Washington DC. Easterly is an associate editor of the Journal of Economic Growth.
Frederic Michael Scherer is an American economist and expert on industrial organization. Since 2006,he continues as a professor of economics at the JFK School of Government at Harvard University.
Homi Kharas is a British economist who has been a senior fellow and deputy director for the global economy and development program at the Brookings Institution since 2005.
Johannes F. Linn is a nonresident senior fellow in the Center for Sustainable Development,housed within the Global Economy and Development program at the Brookings Institution. He is also a distinguished resident scholar of the Emerging Markets Forum,senior advisor at the Results for Development Institute (R4D) and senior research fellow at the International Initiative for Impact Evaluation (3ie).
Jason Furman is an American economist and professor at Harvard University's John F. Kennedy School of Government and a nonresident senior fellow at the Peterson Institute for International Economics. On June 10,2013,Furman was named by President Barack Obama as chair of the Council of Economic Advisers (CEA). Furman has also served as the deputy director of the U.S. National Economic Council,which followed his role as an advisor for the Barack Obama 2008 presidential campaign.
Arvind Panagariya is an Indian economist who is the Jagdish Bhagwati Professor of Indian Political Economy at Columbia University and is also the Director of Deepak and Neera Raj Center on Indian Economic Policies at School of International and Public Affairs at Columbia University in New York City. He served as first vice-chairman of the government of India think-tank NITI Aayog between January 2015 and August 2017. He has been appointed as the chairman of 16th Finance Commission by the government of India. He is a former Chief Economist of the Asian Development Bank. He was awarded the Padma Bhushan by the President of India in 2012 for his contributions in the field of economics and Public Policy. He has published widely on free trade as well as on the development of the Indian economy.
John Howland Cochrane is an American economist who has served as the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution since 2015. A specialist in financial economics and macroeconomics,he has been a professor of finance and economics by courtesy at the Stanford Graduate School of Business since 2016. From 1994 to 2015,he served as the AQR Capital Management Distinguished Service Professor of Finance at the University of Chicago Booth School of Business.
Subir Vithal Gokarn was one of the four Deputy Governors of the Reserve Bank of India along with Anand Sinha,K.C. Chakrabarty and H.R.Khan. He was replaced by Urjit Patel in January 2013.
Finn Tarp is a Danish professor of development economics at the University of Copenhagen and former director of UNU-WIDER (2009-2018),Helsinki,Finland.
The middle income trap is an economic development situation in which a country that attains a certain income gets stuck at that level. The term was introduced by the World Bank in 2007 who defined it as the 'middle-income range' countries with gross national product per capita that has remained between $1,000 to $12,000 at constant (2011) prices.
Arvind Subramanian is an Indian economist and the former Chief Economic Advisor to the Government of India,having served from 16 October 2014 to 20 June 2018. Subramanian is currently a Senior Fellow at the Watson Institute for International and Public Affairs at Brown University. He previously served as Professor of Economics at Ashoka University and a Senior Fellow at the Peterson Institute for International Economics and Center for Global Development.
National Council of Applied Economic Research (NCAER) is India’s oldest and largest independent,non-profit,economic policy research think tank. Established in New Delhi in 1956,it acquired considerable national and international standing within only a few decades of its founding. It is one of a handful of think tanks globally that combine rigorous analysis and policy outreach with deep data collection capabilities,especially for household surveys.
Ufuk Akcigit is a Turkish economist. He is the Arnold C. Harberger Professor of Economics at the University of Chicago,the Kenneth C. Griffin Department of Economics since 2019. The same year,he also received the Max Planck-Humboldt Research Award for his achievements in the field of macroeconomics. In 2021,he was named John Simon Guggenheim Fellow and Econometric Society fellow for his work in Economics. In 2022,he received the Global Economy Prize in Economics from the Kiel Institute in Germany and the Sakıp SabancıInternational Research Award.
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