By Asia Samachar | United States |
World Bank Group has appointed Indermit Gill, the man who pioneered the “middle income trap” concept, as its chief economist and senior vice president for development economics.
“Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change,” said World Bank president David Malpass in a statement. “Indermit is widely respected for his intellectual contributions to development economics”.
An Indian national, Gill is currently VP for equitable growth, finance, and institutions, where he led work on macroeconomics, debt, trade, poverty, and governance. His new appointment is effective on September 1, 2022.
Between 2016 and 2021, he was a professor of public policy at Duke University and non-resident senior fellow in the Global Economy and Development program at the Brookings Institution.
Gill spearheaded the influential 2009 World Development Report on Economic Geography. His pioneering work includes introducing the concept of the “middle income trap” to describe how developing countries stagnate after reaching a certain level of income, the statement added.
He has published extensively on policy issues facing developing countries, sovereign debt, green growth, labor markets, poverty and inequality, and managing natural resource wealth.
A student of Nobel Laureates Gary Becker and Robert E. Lucas Jr., Gill holds a Ph.D. in economics from the University of Chicago. He has an M.A. from the Delhi School of Economics, and a B.A. in economics from St. Stephen’s College, University of Delhi.
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