CEFER and the Government Strategic Analysis Center to join forces in research
The Center for Excellence in Finance and Economic Research of the Bank of Lithuania (CEFER) will cooperate with the Government Strategic Analysis Center (STRATA) in conducting joint scientific research on issues of strategical importance on the national level, thus contributing to the development of research-based economic policy.
Provisions concerning such collaboration are provided for in the Cooperation Agreement signed between the Bank of Lithuania and STRATA. It will help solve certain pressing problems such as the lack of detailed data due to which research on issues relevant to the Lithuanian economy often cannot be conducted or is limited to aggregated data only.
Cooperation between the Bank of Lithuania and STRATA will allow the institutions to bring together three types of resources that are highly important in the field of research: unique individual-level data, modern statistical and econometric methods and soft information on reforms as well as the state of the education system and the labour market in Lithuania. Having joined the competence of researchers and STRATA analysts, they expect to start raising questions that are not only academically important but also relevant to decision makers. The questions will concern the Lithuanian labour market and education system, which in turn will contribute to research-based economic policy.
The first joint project, started in November 2019, is set to look deeper into the short-term effects of the optimisation of the school network on student achievements and is run by two CEFER researchers – Dr Eglė Jakučionytė and Dr Swapnil Singh – as well as STRATA policy analyst Indrė Pusevaitė.
CEFER was established by the Bank of Lithuania and Vilnius University in 2014. In 2017, Kaunas University of Technology joined CEFER as another partner. One of the major tasks of CEFER is to improve the quality of economic and financial sciences in Lithuania. CEFER researchers have completed their PhDs at the University of Cambridge, Goethe University Frankfurt, University of Amsterdam, University of Virginia and other Western universities. Their papers have been published in prestigious journals, such as The Journal of Finance, Journal of Money, Credit and Banking, The Economic Journal and The Review of Asset Pricing Studies.
STRATA is an expert institution that provides the Government and ministries with independent and research-based information necessary for taking evidence-driven public policy decisions. STRATA contributes to the improvement of public administration in Lithuania by strengthening evidence-based policy. STRATA implements its mission in four main directions – conducting and providing policy makers with public policy research and analysis focused on the strategic level of management; strengthening the impact assessment system for proposed legislation; promoting innovation in the public policy making process; contributing to the improvement of analytical competences of civil servants. In its activities, STRATA also employs a network of competences linking the analytical capacities of public authorities, research institutions and international partners.