Olayinka is an applied economist, whose research focuses on the theory and application of dynamic stochastic general equilibrium models, on the one hand, and issues at the intersection of governance, banking and finance, and history in relation to economic development on the other hand. Within these contexts, he is working on testing economic models against macroeconomic data to build support for modelling approaches, and is also investigating how the evolution of polities, policies, and practices shapes socio-economic, environmental, and health outcomes across and within countries. A further area of research that he is currently pursuing is the co-evolution of formal and informal culture and institutions, with a focus on addressing the pervasive question of how to eradicate poverty, eliminate early-life mortality, and improve equality of opportunity and outcomes.