Nobel Laureate Michael Kremer to Become World Bank Chief Economist as Development Challenges Mount

September 16, 2026 — The World Bank has appointed Nobel Prize-winning economist Michael Kremer as its next chief economist, bringing an economist known for experimental research, poverty reduction and technology-driven development into one of the institution’s most influential economic roles.

Kremer, a professor at the University of Chicago, will take over as chief economist on October 1, succeeding Indermit Gill, who retired from the World Bank at the end of August after serving as chief economist and senior vice president for development economics.

The appointment comes as developing economies face a combination of higher financing costs, geopolitical uncertainty, energy-price pressures and constraints on international development assistance.

From Development Research to World Bank Leadership

Kremer has spent much of his academic career examining how governments and development organizations can identify policies that produce measurable improvements in people’s lives.

His work spans areas including education, healthcare, agriculture, finance and technological innovation. Rather than relying solely on broad economic models, Kremer has been closely associated with field experiments designed to test whether particular interventions actually work in real-world settings.

That approach helped reshape modern development economics.

The Nobel Prize in Economic Sciences was awarded jointly to Kremer, Esther Duflo and Abhijit Banerjee in 2019 for their experimental approach to alleviating global poverty. The Nobel committee highlighted their use of carefully designed experiments to break large development problems into smaller questions that could be tested in specific communities and settings. Nobel Prize

Kremer’s earlier research included field experiments in western Kenya examining ways to improve educational outcomes. His work also contributed to research into school-based health interventions, including deworming programs.

A Researcher Focused on Scaling What Works

One of the themes running through Kremer’s career has been the challenge of moving successful development ideas beyond small pilot programs and into large-scale implementation.

At the University of Chicago’s Development Innovation Lab, which he directs, researchers use randomized controlled trials and other evidence-based methods to study programs involving public health, education and economic development in low- and middle-income countries.

The laboratory continues to work with governments, nonprofit organizations and other partners to evaluate interventions and determine how successful approaches can reach larger populations. University of Chicago

Kremer has also increasingly examined how digital technology and artificial intelligence could be applied to development challenges.

In June 2026, he participated in a World Bank-linked lecture on AI and digital agriculture, discussing how emerging technologies could be used to improve agricultural productivity and development outcomes. World Bank Group Institute

Why the Appointment Matters for Developing Economies

The World Bank’s chief economist plays an important role in shaping the institution’s research agenda and economic analysis, particularly on issues affecting developing and emerging economies.

Kremer’s arrival therefore comes at a period when many developing countries are dealing with difficult financing conditions and pressure to generate faster economic growth and employment.

The World Bank has increasingly focused on job creation, productivity, technological adoption and the ability of developing economies to attract investment while maintaining sustainable public finances.

These issues are particularly important for countries with rapidly growing working-age populations. The World Bank has identified employment creation and productivity growth as major development priorities as millions of young people enter labor markets in developing countries.

Kremer’s research background places him at the intersection of several of these challenges, particularly the use of evidence and technology to improve outcomes in lower-income economies.

His Work Has Strong Links to Africa

Kremer’s connection to development research in Africa dates back decades.

During the 1990s, he and other researchers conducted experiments in western Kenya examining education and health interventions. The work helped demonstrate how randomized field experiments could be used to evaluate development programs in actual communities.

The Nobel Prize’s account of the research notes that Kremer and colleagues tested interventions involving schools in western Kenya, including approaches related to textbooks, school meals and treatment for parasitic infections. The research helped establish experimental methods as an important tool in development economics. Nobel Prize background

His more recent work has expanded into agriculture, digital technology and financial inclusion, areas that remain central to economic development across Africa and other emerging regions.

Technology and Innovation Likely to Remain Important

Kremer has argued that new technologies can create opportunities for developing economies, although successful adoption depends on whether innovations can be adapted to local conditions and delivered at scale.

His research has included digital tools for smallholder farmers and the use of technology to improve access to information and productivity.

That emphasis aligns with the World Bank’s growing interest in artificial intelligence and digital technologies as potential tools for improving productivity, public services and economic opportunities in developing countries.

At a World Bank event in 2024, Kremer presented research on development challenges and participated in discussions involving education, health and pandemic preparedness. World Bank

Transition From Indermit Gill

Kremer succeeds Indermit Gill, who became the World Bank’s chief economist and senior vice president for development economics in September 2022.

Gill’s tenure included work on sovereign debt, poverty, inequality, economic growth, climate resilience and the challenges facing middle-income economies. He also played a central role in the World Bank’s research and policy work on what has become known as the “middle-income trap.” World Bank

Gill’s departure was announced earlier in 2026, with World Bank President Ajay Banga telling staff that the institution would begin the process of selecting his successor. Bloomberg

Gill’s final months at the bank included participation in the 2026 Annual Bank Conference on Development Economics, where discussions focused heavily on jobs and economic opportunities for the next generation.

Kremer Brings a Nobel Prize to the Position

Kremer’s appointment also marks a notable point in the history of the World Bank’s chief economist position.

He becomes the first economist to take up the chief economist role while already holding a Nobel Prize in Economic Sciences. Former World Bank chief economists Joseph Stiglitz and Paul Romer received Nobel recognition after their respective periods at the institution.

Kremer received the 2019 Nobel Prize jointly with Duflo and Banerjee. Their research helped establish randomized field experiments as a major method for evaluating policies aimed at reducing poverty.

The Nobel committee said their approach transformed development economics by allowing researchers to address broad questions through smaller, testable interventions. Nobel Prize

What to Watch After October 1

Kremer’s tenure will put his research approach into a much larger institutional setting.

Areas to watch include how the World Bank evaluates development programs, the role of technology and artificial intelligence in emerging economies, agricultural productivity, job creation and efforts to improve health and education outcomes.

His appointment also comes as international development finance faces significant pressure, making questions around the effectiveness and scalability of development spending increasingly important.

Kremer is scheduled to begin his World Bank role on October 1, 2026, shortly before the World Bank and International Monetary Fund annual meetings in Bangkok, Thailand.

For developing economies, the significance of his appointment will ultimately depend not only on the research produced under his leadership, but also on how effectively evidence and innovation are translated into policies and programs that can operate at scale.

Key Takeaways

• Michael Kremer will become the World Bank’s chief economist on October 1, 2026.
• He succeeds Indermit Gill, who retired at the end of August.
• Kremer shared the 2019 Nobel Prize in Economic Sciences for research on experimental approaches to reducing global poverty.
• His research has covered education, healthcare, agriculture, finance and technology in developing economies.
• His work in western Kenya helped demonstrate the value of field experiments in development economics.
• Technology, agricultural productivity, job creation and evidence-based development policy are likely to remain important areas as he begins his new role.

Frequently Asked Questions

Who is Michael Kremer?

Michael Kremer is a Nobel Prize-winning economist and University of Chicago professor whose research focuses on development economics, poverty reduction, education, healthcare, agriculture and innovation.

When will Michael Kremer become World Bank chief economist?

Kremer is scheduled to begin his new position on October 1, 2026.

Why did Michael Kremer win the Nobel Prize?

Kremer shared the 2019 Nobel Prize in Economic Sciences with Esther Duflo and Abhijit Banerjee for their experimental approach to alleviating global poverty.

What has Michael Kremer researched?

His research has covered areas including education, health, agriculture, finance and technological innovation in developing countries. His work has included field experiments in western Kenya and research into digital tools for agriculture.

Who did Michael Kremer replace at the World Bank?

Kremer is succeeding Indermit Gill, who served as the World Bank’s chief economist and senior vice president for development economics from 2022 until his retirement in August 2026.