In this lecture, Nobel laureate Michael Kremer, University Professor at the University of Chicago, discussed why innovation is important for development and research which estimates the social returns of investments in development innovation, and how to maximize the impact of these investments. He also discussed how the experimental method can be used as a tool for innovation. Finally, Kremer introduced the new Development Innovation Lab at the University of Chicago, which will focus on using the tools of economics to identify, test, refine and scale innovations.
This event was part of the Development Innovation Lab’s (DIL) Innovation and Development Week on April 25 – 30, 2022, hosted by the Development Economics Center to inaugurate DIL. The week consisted of events focused on both development economic research and innovative solutions that address challenges faced in low- and lower-middle-income countries. For more visit bfi.uchicago.edu/dil-week.