Stronger collaboration between academic researchers and policymakers is essential for driving economic growth in Fiji, according to Deputy Prime Minister and Minister of Finance Professor Biman Prasad. He expressed this sentiment during his opening speech at the 3rd Reserve Bank of Fiji – Asian Development Bank Institute (ADBI) and Asia Pacific Applied Economics Association (APAEA) Conference held at the Grand Pacific Hotel in Suva.
The conference aimed to unite policymakers and economists to discuss how research grounded in evidence can inform effective policy-making in both Fiji and the broader Pacific region. Prasad emphasized the importance of transforming academic research into practical policies that can lead to tangible benefits for the country.
He remarked, “Good politics is not necessarily good policy, and good policy is not always good economics, but the intersection between research, policy, and politics is crucial. The true value of academic research lies not just in publishing papers but in shaping policies that foster real improvements.”
Additionally, Mr. Prasad highlighted the collaborative efforts among the Reserve Bank of Fiji, APAEA, and ADBI, which he believes have bolstered confidence in the nation’s economic trajectory. He pointed out that for Fiji to achieve its aspiration of becoming a high-income nation by 2050, there must be a rethink of traditional implementation strategies.
“The connection between monetary and fiscal policy is integral to our economic framework,” he noted. He urged contributors at the conference to continue their efforts in producing research that bridges economic theory with practical applications, ultimately leading to evidence-based policies that can enhance the lives of people in Fiji and the surrounding region.
This conference represents a progressive step towards integrating valuable research into policy formulation, illustrating hope for a more prosperous future for Fiji—a future that is informed by robust research and strong collaboration between academia and government.
Summary:
Deputy Prime Minister Biman Prasad highlighted the need for stronger collaboration between academic researchers and policymakers during a conference aimed at improving Fiji’s economic growth through evidence-based policy. He emphasized the importance of translating research into effective policies to support Fiji’s goal of becoming a high-income nation by 2050.
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