World Bank appoints Paul Romer as Chief Economist

World Bank appoints Paul Romer as Chief Economist

Washington, July 19 (IANS) World Bank President Jim Yong Kim on Monday announced that American economist Paul Romer will succeed Kaushik Basu as Chief Economist and Senior Vice President of the World Bank.

“We’re most excited about (Paul Romer’s) deep commitment to tackling poverty and inequity and finding innovative solutions that we can take to scale,” said Kim in a statement.

Romer is currently a professor at New York University (NYU) and director of NYU’s Marron Institute of Urban Management.

With his interest and understanding in urban and economic development, Romer helped built the Marron Institute of Urban Management and is also the founding director of the Urbanisation Project at the NYU’ s Stern School of Business, Xinhua news agency reported.

Romer is also known as a proponent of “endogenous growth theory”, which holds that economic growth is primarily the result of investment in human capital, innovation and knowledge.

He founded a start-up Aplia, an education technology company dedicated to increasing student effort and classroom engagement.

Romer’s appointment will be effective from September this year, said the World Bank.

“This position gives me a unique chance to learn about the thing that fascinates me most — producing knowledge that is useful in the sense that it yields benefits on the scale of billions of people,” said Romer on his blog on Monday.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here