Institute for Development of Economics and Finance (INDEF) is an independent research and policy studies institute focusing on economic and financial issues from a sustainable development perspective. INDEF first registered as a non-profit foundation and later, to increase financial flexibility and generate income, it registered a company. The foundation does their public policy and advocacy work and runs their School of Political Economy. The company engages in partnerships, and generates income from research consultancies carried out for the private sector, government agencies and parliament, as well as from government and corporate sponsorships for organizing workshops and seminars; and fees for trainings for the government and private sector. This arrangement allows them to create income and get funding from the government and companies without sacrificing INDEF’s independence as a CSO.

Theory of Change

Research on economic and financial problems helps generate public debate, creates better decision-making processes and improves public policies and their implementation.


INDEF conducts research on macroeconomics and finance; industry, trade and investment; food, energy and sustainable development; innovation and digital economy. Advocacy and trainings on economic and financial issues from a sustainable development perspective. They engage in advocacy through publishing research and promoting it in public discussions, seminars, and media. INDEF also conducts trainings on public policy for students, CSOs, journalists, members of parliament, Ministries, etc.


INDEF set up a School of Political Economy to expand a network of people who can do political economy analysis and write for the public. They do not charge fees for the School because they want to grow their network and make their expertise widely available. Profits from INDEF’s company fund the foundation and subsidize the costs of the School.