19 July 2016 Current Affairs: World Bank Group has appointed Paul Romer as World Bank Chief Economist with effect from September 2016 on 18 July 2016. Romer is a widely respected economist and a successful entrepreneur.
Romer will join the Bank at a critical time when the field of development is transforming under the forces of rapid technological change, globalization, and demography.
As Chief Economist, Romer will support the President and the senior management in leading the institution and inspiring the development profession during this time of transformative change.
Paul Romer : Romer is currently a professor at New York University (NYU), Director of NYU’s Marron Institute of Urban Management, and a professor of economics in NYU's Stern School of Business.
Earlier in his career, his research brought the economics of ideas into the analysis of economic growth.
His start-up company Aplia, focused on educational technology, signals the breadth of his intellectual and practical interests.Before joining NYU, Romer taught at Stanford University’s Graduate School of Business.
His earlier roles included professorships at the Universities of California Berkeley, Chicago and Rochester.He is also a research associate at the National Bureau of Economic Research and a fellow of the American Academy of Arts and Sciences.