Ideas to Action:

Independent research for global prosperity

Time to Revisit Industrial Policy? (Event Video)


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.

Event Video

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