Kaushik Basu


Kaushik Basu is Professor of Economics and the C. Marks Professor of International Studies at Cornell University and the former Senior Vice President and Chief Economist of the World Bank. 

From December 2009 to July 2012 Professor Basu served as the Chief Economic Advisor (CEA) to the Government of India at the Ministry of Finance. Till 2009 he was Chairman of the Department of Economics and during 2006-9 he was Director of the Center for Analytic Economics at Cornell.

Earlier he was Professor of Economics at the Delhi School of Economics, where in 1992 he founded the Centre for Development Economics in Delhi was its first Executive Director. He is also a founding member of the Madras School of Economics.

He is currently (the fourth) President of the Human Development and Capabilities Association, which was founded by Amartya Sen. He has held advisory posts with the ILO, the World Bank, the Reserve Bank of India and was, for several years, member of the steering committee of the Expert Group of Development Issues set up by the Swedish Government. He is currently a member of the Board of Directors of the Exim Bank of India.

Kaushik Basu has held visiting positions at the Institute for Advanced Study, Princeton, and the London School of Economics, where he was Distinguished Visitor in 1993. He has been Visiting Professor at Harvard University (Economics Dept) - 2004, Princeton University (Economics Dept) - 1989-91, and M.I.T. (Economics Dept) -2001-02.

He is Editor of Social Choice and Welfare, and served or serves on the Editorial Boards of the Journal of Economic Perspectives, Journal of Development Economics, World Bank Economic Review and the Japanese Economic Review.

A Fellow of the Econometric Society, Kaushik Basu has published widely in the areas of Development Economics, Industrial Organization, Game Theory and Welfare Economics. His books include Analytical Development Economics (1997, MIT Press), Prelude to Political Economy: A Study of the Social and Political Foundations of Economics (2000, Oxford University Press) and Of People, Of Places: Sketches from an Economist’s Notebook (1994, Oxford University Press). His latest book, Beyond the Invisible Hand: Groundwork for a New Economics is to be published shortly by Princeton University Press and Penguin.

Professor Basu has also contributed popular articles to magazines and newspapers, such as The New York Times, Scientific American, India Today and Business Standard. He also wrote a regular column for BBC News Online. He has appeared on various television programs including CNN (USA), NDTV and CNBC (India) and BBC.

In May 2008 he was awarded one of India’s highest civilian awards, the Padma Bhushan, by the President of India.

Featuring this expert

Rob Johnson and other commissioners sign a public letter on the importance of coming together to fight climate change

News Jun 8, 2021

“Overcoming the COVID-19 crisis and ensuring a rapid and equitable economic recovery are only two of the challenges we must meet in 2021. This year will also be a crucial one for achieving the goal of net-zero carbon dioxide emissions by mid-century.” — Project Syndicate

Project Syndicate cites INET’s report from the Commission on Global Economic Transformation

News Apr 30, 2021

“To do this properly, we need to understand the structure of markets for knowledge-based products like new vaccines. Currently, we do not: the “market” is a mishmash of competition and side deals. According to a recent paper from the Institute for New Economic Thinking, governments and pharmaceutical companies last year concluded 44 bilateral COVID-19 vaccine deals, many of which have undisclosed details and poorly understood escape clauses. Poor countries were, by and large, left out.” — Kaushik Basu, Project Syndicate

How Might the Pandemic Change the World Economy? Peering into the Future

with Dr. Kaushik Basu

Event Webinar | Aug 6, 2020

While policymakers around the world are in fire-fighting mode, trying to keep the economies in their charge running and the mysterious pandemic under control, the global terrain beneath our feet is shifting. Which countries will emerge as winners and losers in the new global landscape?

World Economic Roundtable

Explaining a Decade of Stagnation: Where Do We Go From Here?

Event Discussion | Dec 14, 2017

The World Economic Roundtable seeks to help the business, investment, and policy communities understand ongoing changes in the world economy and to promote a discussion of ideas that can advance the goal of a widely shared global prosperity.