Stanford Student Explores Institutional Infrastructure in Emerging Economies

CDDRL Welcomes Twelve Juniors to its Fisher Family Honors Program

Mar. 30, 2026 at 11:07pm

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A highly stylized, abstract grid of brightly colored pharmaceutical products, rendered in a bold, pop art style that emphasizes the conceptual importance of the unseen systems that enable access to essential goods.A Stanford student's research aims to shed light on the critical but often overlooked 'boring infrastructure' that underpins the functioning of essential markets in emerging economies.Seattle Today

Ava Chen, a junior at Stanford University, has been selected to participate in the CDDRL Fisher Family Honors Program. As part of the program, Chen will spend the next year and a half conducting original thesis research on the role of private institutional mechanisms in supporting economic development and improving access to essential medicines, particularly in contexts where formal legal enforcement and state capacity are limited.

Why it matters

Chen's research aims to shed light on the critical but often overlooked 'boring infrastructure' that underpins the functioning of modern economies, such as clearinghouses, group purchasing organizations, distributors, and financial intermediaries. By studying how these private institutions govern logistics, financial coordination, and contract enforcement, Chen hopes to better understand how institutional infrastructure shapes economic development and access to essential goods like medicines.

The details

As part of her thesis, Chen plans to examine how suppliers and hospitals in emerging markets are affected by market instability, currency fluctuations, and the role of trust and reliability in financial transactions. She will also study the private institutions and companies that build the 'systems plumbing' behind markets, including logistics networks and transaction infrastructure. Chen's research is informed by her experience founding a company, Niora Systems, focused on procurement and financial infrastructure for pharmaceutical supply chains in emerging markets.

  • Chen was selected to participate in the CDDRL Fisher Family Honors Program in March 2026.
  • Chen plans to conduct field research in Ghana and South Africa this summer to inform her thesis.

The players

Ava Chen

A junior at Stanford University majoring in Computer Science (Computational Biology) and minoring in Economics. Chen founded a company, Niora Systems, focused on procurement and financial infrastructure for pharmaceutical supply chains in emerging markets.

Karen Eggleston

Chen's thesis advisor at Stanford.

Carolyn Bertozzi

Chen's thesis advisor at Stanford.

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What they’re saying

“Through my work in global health, I realized how deeply the functioning of essential systems depends on institutional infrastructure — particularly the private institutions that govern logistics, financial coordination, and contract enforcement. These systems quietly underpin many of the most critical functions of modern economies and directly shape downstream outcomes, such as pharmaceutical procurement, supply chain reliability, and access to medicines.”

— Ava Chen, CDDRL Fisher Family Honors Program Participant

“As emerging markets continue to grow over the next few decades, there is an enormous opportunity to build the systems that make markets more stable, trustworthy, and efficient.”

— Ava Chen, CDDRL Fisher Family Honors Program Participant

What’s next

Chen plans to continue building her company, Niora Systems, which focuses on developing the financial infrastructure that enables reliable procurement transactions in emerging markets. She aims to scale the company and expand its work in the realm of insurance, clearinghouses, and payment networks.

The takeaway

Chen's research highlights the critical but often overlooked role of private institutional infrastructure in shaping economic development and access to essential goods, particularly in emerging markets where formal legal enforcement and state capacity are limited. By studying these 'boring' but vital systems, Chen hopes to uncover new insights that can inform efforts to build more stable, trustworthy, and efficient markets.