The 3rd Reserve Bank of Fiji – Asian Development Bank Institute (ADBI) and Asia-Pacific Applied Economics Association (APAEA) Conference was recently held at the Grand Pacific Hotel in Suva, bringing together policymakers and economists from Fiji and beyond. The event focused on the importance of evidence-based research in shaping effective policies for economic growth in the region.

During the opening remarks, Deputy Prime Minister and Minister of Finance, Professor Biman Prasad, stressed the importance of fostering stronger collaboration between academic researchers and policymakers. He articulated a clear vision for Fiji to transition into a high-income nation by 2050, emphasizing that achieving this ambitious goal requires a reassessment of traditional strategies and approaches.

Professor Prasad highlighted, “Good politics is not necessarily good policy, and good policy is not always good economics, but the intersection of research, policy, and politics is crucial.” He expressed that the true value of academic research lies not merely in publication but in its power to influence policy-making that leads to substantial improvements in society.

The Deputy Prime Minister acknowledged the collaborative efforts of key institutions like the Reserve Bank of Fiji, ADBI, and APAEA, crediting them for bolstering confidence in the country’s economic trajectory. He underlined the significance of linking economic theories to real-world applications, encouraging ongoing research that would lead to robust, evidence-based policies that enhance the lives of citizens.

This conference represents an important step toward bridging the gap between research and practical implementation. As demonstrated by the event’s discussions, the collective efforts of various stakeholders show promise for creating innovative solutions to complex economic challenges—ultimately fostering a more sustainable and prosperous future for Fiji.

The event not only reflects an essential dialogue about the interdependence of research and policy but also inspires hope that a unified approach can guide Fiji towards achieving its developmental aspirations. By harnessing the strength of collaboration between academia and policymaking, Fiji can set forth on a path that aligns research insights with actionable strategies, paving the way for meaningful progress.