Mr. Chadchart Sittipunt, Governor of Bangkok, welcomed Professor Finn E. Kydland, Nobel Laureate in Economics, along with Dr. Tonya Kydland, his spouse, and Mr. Uwe Morawetz, President of the International Peace Foundation, during their trip to Thailand.

Professor Finn E. Kydland is a Norwegian economist who graduated from the Norwegian School of Economics, Norway, and Carnegie Mellon University, Pennsylvania. United States of America. Later, he joined Tepper Business School in 2004 and was named the Jeff Henley Chair in Economics, the University of California, Santa Barbara, USA.

Professor Finn E. Kydland received the Nobel Prize in Economics in 2004 together with Professor Edward C. Prescott for their work in dynamic macroeconomics, especially the inconsistency of economic policy between the appropriate timing and the driving forces behind the business cycle. The work of Professor Finn E. Kydland has influenced the monetary and fiscal policies of many governments and laid the foundation for increasing the fiscal freedom of many central banks. It shows that changes in technology or sudden changes in supply, such as increases in oil prices, may be reflected in investment and related price movements. It also stimulates short-term fluctuations around the long-term economic growth path, for example.