Parag Pathak, a young American economist of Nepali origin, has won the prestigious John Bates Clark Medal 2018 from the American Economic Association, bolstering his chances of becoming a Nobel laureate in future.

The medal is awarded annually to an American economist under the age of 40, who has made significant contribution to economic thought and knowledge. One in three recipients of the medal goes on to win the Nobel Prize in economics, according to Bloomberg.