A meeting was held at the Central Bank of the Republic of Uzbekistan with Professor Ricardo Hausmann, Founder and Director of the Growth Lab at Harvard Kennedy School.
The meeting focused on potential areas of cooperation aimed at examining Uzbekistan’s long-term economic development prospects, strengthening the Central Bank’s research capacity, and supporting the formulation of economic policy decisions based on rigorous analysis and reliable data.
The management of the Central Bank noted that the economic reforms implemented in Uzbekistan in recent years have significantly increased demand for evidence-based analysis and applied research. In this regard, particular attention is being paid to advancing research activities within the Central Bank, strengthening its statistical and analytical capabilities, and expanding cooperation with international experts and leading universities.
It was also noted that a Research Council has been established under the Central Bank. Work is under way to engage professors and researchers from foreign higher education institutions and to organize research projects and competitions for students and young professionals using economic data.
Professor Ricardo Hausmann provided an overview of the activities of the Harvard Growth Lab, the economic complexity and growth diagnostics methodologies developed by the center, as well as its applied research projects implemented across various countries. In particular, it was noted that the Growth Lab works closely with government institutions to conduct research aimed at identifying countries’ existing productive capabilities, knowledge and skills, their potential for economic diversification, and the key constraints to economic growth.
Professor Hausmann emphasized that, in addition to assessing overall economic growth rates, it is important to examine in depth which sectors, regions and enterprises are driving growth, as well as its impact on employment, productivity and household incomes.
The parties exchanged views on the practical application of research findings in public economic policy, coordination with other economic institutions, data quality and secure data use, as well as the development of the analytical capacity of local specialists.
The meeting also discussed opportunities, within the framework of the research programme proposed by the Growth Lab, to conduct a comprehensive diagnostic assessment of Uzbekistan’s economic growth and economic complexity, establish joint problem-driven research teams, prepare analytical materials and practical recommendations, and organize seminars and expert-level policy dialogue.
At the conclusion of the meeting, the parties agreed to consider organizing a technical mission to assess the quality, coverage and infrastructure of available data before determining the next stages of cooperation.
The parties expressed their readiness to continue the dialogue on supporting a new stage of Uzbekistan’s economic development based on productivity, diversification and sustainable growth, drawing on evidence-based research and international experience.
