Mario Draghi, former president of the European Central Bank and former prime minister of Italy, has been named the 2026 recipient of the SIEPR Prize, an honor recognizing individuals whose work has significantly shaped economic policy.
The award is conferred by the Stanford Institute for Economic Policy Research (SIEPR), which highlights scholars and policymakers whose contributions bridge academic research and real-world decision-making.
Recognition for Crisis Leadership and Structural Reform
Draghi’s selection reflects a career defined by high-stakes economic leadership. As head of the European Central Bank from 2011 to 2019, he steered the euro area through the sovereign debt crisis that threatened the stability of the monetary union. His 2012 commitment to do “whatever it takes” to safeguard the euro marked a turning point in restoring market confidence and stabilizing borrowing conditions across several heavily indebted eurozone economies.
His tenure is widely associated with unconventional monetary policy interventions and institutional reforms that strengthened the resilience of the euro area. Today, 21 of the European Union’s 27 member states use the euro as their currency.
Draghi later served as Italy’s prime minister between 2021 and 2022, overseeing the country’s economic recovery during the COVID-19 period and coordinating implementation of European recovery funds.
Shaping the EU’s Competitiveness Agenda
In 2024, the European Commission commissioned Draghi to assess the European Union’s long-term economic outlook and competitiveness. His subsequent report—spanning hundreds of pages—warned of structural stagnation, limited innovation dynamism, and intensifying global competition, particularly from the United States and China.
The report called for deeper fiscal coordination, strategic investment, and greater policy integration across member states. Its recommendations continue to influence debates on industrial strategy, technological sovereignty, and the future governance of the EU economy.
A Career Bridging Academia and Policy
Trained as an economist with a PhD from MIT, Draghi has built a career spanning academia, central banking, and executive government leadership. In announcing the prize, SIEPR emphasized the broader significance of research-informed policymaking in navigating systemic economic shocks.
Draghi will be recognized at the upcoming SIEPR Economic Summit in March, where he is scheduled to deliver a keynote address.
Context: A Prize for Policy Impact
The SIEPR Prize has previously honored major figures in economic policymaking, including Ben Bernanke and Paul Volcker, both former chairs of the U.S. Federal Reserve, as well as public finance and legislative leaders such as Alice Rivlin and Bill Bradley.
By awarding the 2026 prize to Draghi, SIEPR signals continued recognition of policymakers whose actions have shaped the trajectory of national and supranational economic governance.
