Research on institutions' role in economic success brings laurels for Acemoglu, Johnson, Robinson

By Gokhan Ergocun

ISTANBUL (AA) – Three US-based professors – Daron Acemoglu, Simon Johnson, and James A. Robinson – were awarded the Nobel Peace Prize for their joint research on "how institutions are formed and affect prosperity."

Earlier on Monday, the Royal Swedish Academy of Sciences announced that the laureates' research has demonstrated the critical role that societal institutions play in a nation’s economic success.

Acemoglu, who is originally from Türkiye, and Johnson are both affiliated with the Massachusetts Institute of Technology (MIT), while Robinson is associated with the University of Chicago.

Their collaborative work has become essential to understanding global economic development and governance.

- Acemoglu

Professor at MIT, Acemoglu, 57, works in different fields of macroeconomics, political economy, labor economics, development economics, and economic theory.

Acemoglu has received more than 40 awards from various institutions since 1989, including the WZB Berlin Social Science Center's Social Science Award, Swiss Finance Institute's Outstanding Paper Award, Turkish Presidential Culture and Arts Grand Award, and American Economic Association's John Bates Clark Medal.

He graduated from the University of York with a bachelor's degree and went on to earn postgraduate and doctoral degrees from the London School of Economics.

He was a lecturer at the LSE from 1992 to 1993, and he has been with MIT since then.

Following Acemoglu's award, Turkish Treasury and Finance Minister Mehmet Simsek and Turkish Central Bank Governor Fatih Karahan congratulated him on the X platform.

- Johnson

Johnson, 61, is also a professor at MIT Sloan School of Management, where he is head of the Global Economics and Management group.

Johnson earned his first degree from the University of Oxford, a master's degree from the University of Manchester, and a doctorate from MIT.

He served as chief economist at the International Monetary Fund from 2007 to 2009.

Johnson was previously a senior fellow at Washington's Peterson Institute for International Economics.

- Robinson

Robinson, an economist and political scientist, conducted influential research on political and economic development at the University of Chicago, as well as the relationships between political power, institutions, and prosperity.

He holds a bachelor's degree from the LSE, a master's degree from Warwick University, and a doctorate from Yale University.

The 64-year-old academic has conducted research in many countries, including Botswana, Chile, the Democratic Republic of the Congo, Haiti, the Philippines, Sierra Leone, South Africa, and Colombia, where he teaches every summer at the University of the Andes in Bogota.