DUBAI: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, extended his congratulations to Professor Yacine At-Sahalia, a Professor of Finance and Economics at Princeton University, for being named the winner of the Great Arab Minds Award in Economics for 2024. The accolade recognizes Professor At-Sahalia’s pioneering contributions to the fields of financial econometrics and data analysis.
According to Emirates News Agency, Sheikh Mohammed praised Professor At-Sahalia for his work in advancing the modeling of high-frequency financial data and continuous-time processes, which have significantly improved the understanding of financial markets. His Highness emphasized the impact of Professor At-Sahalia’s developments in economic and financial metrics for determining volatility levels and predicting market fluctuations. The advancements have enhanced financial market analysis, improved economic risk assessments, and increased the efficiency of financial and economic planning.
Sheikh Mohammed remarked, “We celebrate his achievement and take pride in all Arab minds who have inspired us with their creativity. We look forward to meeting them soon at the Great Arab Minds ceremony.” This sentiment underscores the broader vision of fostering innovation and excellence across the Arab world.
Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and Chairman of the Great Arab Minds Higher Committee, informed Professor At-Sahalia of his award win via a video call. Al Gergawi highlighted that the award is a reflection of Sheikh Mohammed’s vision to recognize exceptional Arab talent and expand their impact in their fields. He acknowledged that Professor At-Sahalia’s theories on econometrics and financial analysis have become essential references for institutions, markets, economies, and governments worldwide.
Professor At-Sahalia’s research, which includes over 80 academic studies and two books, introduced high-frequency econometric methods that are crucial for analyzing financial data, estimating volatility, forecasting market trends, and evaluating risk. His techniques for addressing microstructure noise and capturing market dynamics have provided vital tools for asset pricing and financial decision-making, inspiring a new generation of economists.