IEA Appoints World Bank's Kaushik Basu as President-Elect

New Delhi: The International Economic Association (IEA) has appointed Kaushik Basu, who is Chief Economist and Senior Vice President of the World Bank, as its president-elect.

IEA is one of the most important associations of professional economists, and has been influential in shaping global economic policy and research.

"The International Economic Association (IEA) has appointed Professor Kaushik Basu as president-elect of the Association beginning September 2014. He will continue serving as Senior Vice President and World Bank Chief Economist, a job he started on October 1, 2012," Mr Basu's senior communication officer Merrell J Tuck-Primdahl said in a statement.

A WB Chief Economist is appointed for a 4-year term.

In Mr Basu's case, to take up the WB job, he took leave from Cornell University where he is Professor of Economics and the C Marks Professor of International Studies.

Among IEA past presidents are Nobel laureates Robert Solow, Amartya Sen and Joseph Stiglitz.

With Mr Basu, this will be the second time an Indian will be heading this association that produces a large number of research papers and books and organises round tables on topics of contemporary interest.

Its focal activities include the International Congress organised every three years. The event serves as one of the largest gatherings of economists from around the world.

The 2014 Congress was held at Dead Sea, Jordan. Before that, it was hosted in Beijing, China in 2011.