Kaushik Basu, Indian economist and academic

Kaushik Basu, born on 9 January 1952, is a highly distinguished Indian economist recognized for his significant contributions to economic theory and policy at both national and international levels. His illustrious career spans prominent roles in government, global institutions, and academia.

Key Roles and Contributions

• Chief Economist of the World Bank (2012-2016): From 2012 to 2016, Dr. Basu served as the Chief Economist and Senior Vice President of the World Bank. In this pivotal global position, he provided intellectual leadership on development economics and advised the Bank's President and management on a wide array of economic issues, encompassing global financial stability, poverty reduction strategies, and sustainable development. The World Bank Group is an international financial institution dedicated to reducing poverty and supporting development, making his role crucial for shaping policies aimed at promoting shared prosperity and sustainable growth worldwide.

• Chief Economic Adviser to the Government of India (2009-2012): Prior to his tenure at the World Bank, Kaushik Basu played a critical role in India's economic policy-making as the Chief Economic Adviser to the Government of India. He held this influential post from 2009 to 2012 during the second term of the United Progressive Alliance government. As CEA, he provided crucial economic advice to the Finance Minister and the Prime Minister, significantly contributing to the formulation of national economic policies and playing a key role in the preparation of the annual Economic Survey, which offers a comprehensive review of the Indian economy and outlines policy challenges.

• Academic Excellence at Cornell University: Dr. Basu is currently the C. Marks Professor of International Studies and Professor of Economics at Cornell University, a prestigious Ivy League institution in the United States. His work at Cornell involves teaching, groundbreaking research, and contributing to global economic discourse, reinforcing his deep engagement with academic thought and the training of future economists. He also contributes to the academic advisory board of the upcoming Plaksha University, an innovative, research-oriented institution in India focused on technology and leadership, indicating his continued commitment to education and institution-building in his home country.

• President of the International Economic Association (2017-2020): His international influence extends to his leadership as President of the International Economic Association (IEA). He commenced a three-year term in this esteemed position in June 2017, concluding in June 2020. The IEA is one of the world's leading professional organizations for economists, fostering global dialogue, research, and collaboration among economists and policymakers to advance economic knowledge and its application.

Prestigious Recognition

In recognition of his outstanding contributions to the field of economics and his profound impact on policy and research, Kaushik Basu was honored with the prestigious Humboldt Research Award in 2021. Granted by the Alexander von Humboldt Foundation in Germany, this award acknowledges internationally renowned scientists and scholars whose fundamental discoveries, new theories, or insights have had a significant and lasting impact on their discipline, further solidifying Dr. Basu's standing as a global economic thought leader.

Frequently Asked Questions about Kaushik Basu

Who is Kaushik Basu?

Kaushik Basu is an eminent Indian economist, born on January 9, 1952. He is widely recognized for his high-profile roles as Chief Economist of the World Bank, Chief Economic Adviser to the Government of India, and a distinguished professor at Cornell University.

What was Kaushik Basu's role at the World Bank?

Kaushik Basu served as the Chief Economist and Senior Vice President of the World Bank from 2012 to 2016. In this capacity, he provided crucial economic leadership and advised on global development policies aimed at poverty reduction and shared prosperity.

When did Kaushik Basu serve as Chief Economic Adviser to the Government of India?

He served as the Chief Economic Adviser to the Government of India from 2009 to 2012, during the second term of the United Progressive Alliance, where he played a significant role in shaping national economic policy and preparing the annual Economic Survey.

Where does Kaushik Basu currently hold an academic position?

Kaushik Basu is currently the C. Marks Professor of International Studies and Professor of Economics at Cornell University. He also serves on the academic advisory board of Plaksha University in India.

What is the Humboldt Research Award?

The Humboldt Research Award is a prestigious international award granted by the Alexander von Humboldt Foundation in Germany. It recognizes internationally renowned scientists and scholars for their significant contributions to their respective fields, and Kaushik Basu received it in 2021 for his impactful work in economics.