Kathmandu. The Nobel Prize in Economics has been awarded to Joel Mokir, Philip Aghien and Peter Howitt for their outstanding contributions to the understanding of economic development. They have researched extensively about the link between innovation and economic growth.
By announcing the names of these three scholars, the Nobel Prize Committee has made it clear that their economic models and analyses can be crucial in understanding current global economic challenges. This is the major achievement of their career.
The prize was awarded to the three economists for their work explaining how new ideas and technologies drive the economy. The award was given to them for their significant research in the field of economic sciences.
Joel Mokir, Philippe Aguien, and Peter Howitt have described innovation as a key engine of economic growth. Innovation is the introduction of new ideas, products, or processes. This work strengthens the economy and improves people’s quality of life.
The award is the result of extensive research by these three economists. They demonstrated how companies and countries can thrive by embracing new ideas. The Nobel Prize was awarded for better understanding of the principles of economic development.
