The Nobel Prize in Economics for 2024 was awarded to three American economists whose research explained why some countries are rich and others poor.

The prestigious award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the final prize to be given out this year and is worth 11 million Swedish crowns ($1.1 million).

Indian-born Abhijit Banerjee of the US, French-American Esther Duflo and Michael Kremer of the US win the 2019 Nobel Economics Prize for their work in fighting global poverty.

Economists Abhijit Banerjee, Esther Duflo and Michael Kremer win the 2019 Nobel Economics Prize for their work in fighting global poverty, the Royal Swedish Academy of Sciences say.