The Dominican Republic Aims to Enhance Public Policies Emphasized by the Nobel Prize in Economics

Santo Domingo.- American economist Michael Kremer, 2019 Nobel Prize winner in Economics, has praised the Dominican Republic’s initiative to improve its public policy evaluation system.

Kremer analyzed possible evaluations of several government programs in collaboration with the Dominican Government, including Oportunidad 14-24, English by Immersion and pilot programs in sexual education and robotics applied in teaching.

Kremer emphasized the importance of using scientific evidence to support public policies and decisions. Such evaluations serve as valuable learning tools for public institutions to refine their strategies. She recognized the Dominican Republic’s commitment to learning and conducting assessments, something that does not happen everywhere.

The Minister of Economy, Planning and Development, Pável Isa Contreras, emphasized the need to expand the practice of evaluating public policies in the country. He highlighted that evaluating goes beyond supervising and is about measuring the efficiency, effectiveness, and impact of the policies. Collaborating with Kremer and his team represents a step towards institutionalizing this practice.

The Ministry of Economy, Planning and Development is in the process of formalizing an agreement with the University of Chicago and the Development and Innovation Laboratory to create a public policy evaluation unit within the ministry, further promoting the exchange of knowledge.

The programs developed in collaboration with the American laboratory focus on the formation of specialized human capital. This is considered a means to reduce the need for social subsidies in the future. The government intends to reduce social subsidies as young people enter the labor market competitively.

Michael Kremer received the Nobel Prize for his work on an experimental methodology to alleviate global poverty. He currently serves as a professor of economics and public policy at the University of Chicago and directs the university’s Development and Innovation Laboratory (DIL).

Leave a Comment

Punta Cana Today, Real Estate Market News