More than 400 public servants were certified after completing the Special Course on Economic Growth and Development taught in virtual mode by the prestigious economist Xavier Sala-i-Martin, professor at Columbia University and PhD in Economics. The course, organized by the National Competitiveness Council (CNC), was held in conjunction with the National Institute of Public Administration (INAP), the Ministry of Public Administration (MAP), the Ministry of Economy, Planning and Development (Mepyd) and the Ministry of the Presidency (Minpre), through the INAP platform for more than 24 hours from September to December 2023.
This academic training was given with the objective of providing an updated overview of economic growth and development that will strengthen analytical skills and strategic vision so that participants can contribute to the development of public policies that accelerate inclusive growth. More than 400 public servants from the executive, congressional, judicial and municipal branches, as well as some participants from the private sector and non-governmental offices, registered for the course.
At the beginning of the course, Sala-i-Martin discussed the historical evolution of various economic indicators used to capture the change in the welfare of humanity; the model of economic growth presented both conceptually and mathematically and, with data for the Dominican Republic, focused on the importance of increasing total factor productivity “A”.
He suggested capturing this component in a good measure through the Global Competitiveness Index, given the multiple pillars addressed by this global benchmark of how nations are progressing in areas such as institutions, infrastructure, macroeconomic stability, innovation capacity, business dynamism, among others.
The professor continually challenged the participants that the solutions to the problems of each country need to be built by its inhabitants. He encouraged critical thinking and was continuously evaluating public policy proposals/programs. This was reflected in his extensive discussion of Dominican and international cases with RCT (Randomized Controlled Trials) methodologies, as well as his warnings about learning COBRA effects, which occur when an attempted solution to a problem actually makes it worse, because the element evaluated in that policy is manipulated by the people to be evaluated.
Course participants commented that it focuses on the need to improve the country’s efficiency to achieve accelerated growth. The analysis identified several challenges, including low productivity growth, institutional weaknesses affecting the implementation of laws, and limited capacity for innovation. They also stressed the importance of addressing obstacles to innovation, in areas related to extractive institutions, lack of venture capital in the financial system, limited competition, and an education system that is outdated to future market needs.
Participants also highlighted the role of intellectual property rights in accelerating economic growth and the importance of improving the efficiency of the State as a fundamental approach to development and growth. Peter Prazmowski, Executive Director of the CNC, thanked all the participants for their dedication and effort during the course, and invited everyone to apply the knowledge suggested in the development of public policies to accelerate inclusive, sustainable and competitive economic growth based on innovation.
Source: Presidencia.gob.do
