The Ministry of Economy and Planning in Saudi Arabia has formalized a three-year research agreement with the University of Chicago's Division of Social Sciences, aiming to bridge the gap between cutting-edge research and effective public policy.
This collaboration will concentrate on conducting economic research to inform social and economic policies in Saudi Arabia, fostering local talent, and globally sharing research outcomes to promote economic opportunities within the country.
The agreement, signed by Vice Minister of Economy and Planning Ammar Nagadi, delineates a collaboration between the Ministry and a team of University of Chicago researchers led by Prof. John List.
Their joint endeavor will delve into various policy domains encompassing macroeconomics, international organizations, social development, and labor market dynamics. A particular emphasis will be placed on leveraging behavioral and experimental economics to shape and enhance public policy decisions.
This strategic initiative harmonizes with the Ministry of Economy and Planning's fundamental mandate of crafting policies grounded in empirical evidence. It underscores the commitment to forging alliances with both local and international bodies while fostering growth and innovation within the private sector.
Moreover, this collaboration is poised to propel the strategic objectives outlined in Saudi Vision 2030, contributing significantly to fortifying economic growth and diversifying the Saudi economy.
Established in 1890, the University of Chicago is a renowned academic institution in the United States, with globally esteemed faculty in economics consistently earning prestigious acclaim, including Nobel Laureates among its faculty.