4:00—5:30 PM
Center for Global Development, 1800 Massachusetts Ave, NW, Lobby Level Room 1026, Washington, DC

Time to Revisit Industrial Policy?

Introductory Remarks by
Nancy Birdsall
Center for Global Development

Justin Lin
Chief Economist
World Bank

Anne Krueger
Professor of International Economics
Johns Hopkins Paul H. Nitze School of Advanced International Studies

John Page
Senior Fellow
Brookings Institution

Steve Radelet
Chief Economist
U.S. Agency for International Development

Moderated by
Alan Gelb
Senior Fellow
Center for Global Development

Industrial policy—an active government role in shaping the direction of the economy—is often disdained by Western-trained economists but frequently embraced by Asian policymakers. Is it the path to development success or a slippery slope that leads to development failure? “New Structural Economics: A Framework for Rethinking Development and Policy” by World Bank chief economist Justin Lin and contributing authors provides a timely opportunity to review the evidence. Are systemic reforms to strengthen the business climate enough? How can policymakers guard against the well-known risks of favoring specific sectors or firms? Is there such a thing as a "New Industrial Policy" and can it provide useful guidelines for developing countries? This debate is of particular interest for low-income countries in Africa and elsewhere and the advice provided by their development partners.


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