Economics Nobel prize won by academics for tackling poverty

Abhijit Banerjee, Esther Duflo, Michael Kremer 'dramatically improved' practical solutions

Academics who have pioneered on-the-ground experiments to discover the most effective ways to tackle poverty in the developing world were awarded the Nobel prize for economics on Monday.

Abhijit Banerjee and Esther Duflo of the Massachusetts Institute for Technology secured the 9m Swedish krona (720,000) prize with Harvard professor Michael Kremer.