Kaushik Basu takes over as IEA president

New Delhi: Former chief economic advisor Kaushik Basu has taken over as president of the International Economic Association (IEA).

Basu's three-year term started from June 23.

"Basu's leadership kicked off with the closing of IEA's 18th World Congress in Mexico, at which Basu spoke, along with Cornell's Ravi Kanbur," the Cornell University said in a statement.

Basu has also served as senior vice-president and chief economist at the World Bank from 2012 to 2016 and as the chief economic adviser to the Government of India from 2009 to 2012.

He is currently the C. Marks Professor of International Studies at Cornell.

The IEA is a leading organisation for professional economists and it seeks to shape global economic policy and research. Among IEA's past presidents are Nobel laureates Kenneth Arrow, Robert Solow, Amartya Sen and Joseph Stiglitz.