Industrial policy image

Event Materials

Amidst slower global growth, a shifting labor market, and rising protectionism, governments around the world are increasingly turning to a once controversial policy. Industrial policy—the range of policy tools governments use to shape what an economy produces, rather than leaving it to markets alone—is back with a vengeance.

Contrary to recent headlines, advanced economies are not the heaviest users of industrial policy. Developing economies use it more intensively. New evidence reveals notable differences across income groups in the scale of business subsidies, the structure of import tariffs, and the breadth of industries targeted in national development plans. 

In this talk, report co-authors Ana Margarida Fernandes and Tristan Reed will provide a deep dive into Industrial Policy for Development: Approaches in the 21st Century, which offers the first comprehensive guide to industrial policy for development in the 21st century. The report is distinctive in four respects: it covers 15 policy tools—well beyond the existing literature's focus on tariffs and subsidies; it provides practical guidance on design and implementation, including how to target industries and design effective institutions; it draws on new evidence from more than 60 economies; and it identifies targeted approaches for governments using industrial policy to pursue specific goals, from earning foreign exchange and creating jobs to reducing pollution and strengthening security and resilience.

Image

Ana Margarida Fernandes Speaker

Lead Economist, Development Research Group

Ana Margarida Fernandes is a Lead Economist in the World Bank’s Development Research Group, focused on trade and development. In her research she has studied the consequences of openness to trade and investment, as well as the impacts of public policies like customs reform, deep trade agreements, and export promotion, and she has significant regional experience in Africa and Eastern Europe. She leads the Exporter Dynamics Database project, which studies the causes of exporter entry, growth, and exit. She has authored the report Industrial Policy for Development: Approaches in the 21st Century. A native of Portugal, she holds a PhD in economics from Yale University and a BA from the Universidade Nova de Lisboa. 

Image

Tristan Reed Speaker

Economist, Development Research Group

Tristan Reed is an applied economist at the World Bank's Development Research Group working on questions about industrial organization relevant to economic growth and development. In his recent research, he has studied whether private equity is competitive in emerging markets, why input prices are higher in Africa, and the effects of antitrust enforcement in Mexico. He has done extensive work on the vaccine industry and is a trusted adviser of the G20 High Level Independent Panel on Pandemic Preparedness and Response. Prior to joining the World Bank, he was an associate of McKinsey and Company’s Africa office. A native of California, he holds a PhD in economics from Harvard University and a BA summa cum laude from the University of California, Los Angeles

Image

Martin Raiser Discussant

Senior Representative for European Economic Cooperation

Martin Raiser became the World Bank’s Senior Representative for European Economic Cooperation on July 1, 2025.

As the World Bank’s Senior Representative for European Economic Cooperation and Head of Office in Paris, he provides strategic leadership to the engagement with the EU institutions and EU member states to enhance sustainable partnerships.

Prior to this, Mr. Raiser was the World Bank’s Vice President for the South Asia region. Mr. Raiser has also held positions as the Country Director for China and Mongolia, and Director for Korea, Country Director for Brazil, Country Director for Turkiye, Country Director for Ukraine, Belarus and Moldova, and Country Manager for Uzbekistan.

Image

Aaditya Mattoo Chair

Director, Development Research Group

Aaditya Mattoo is Director of the Development Research Group of the World Bank. He specializes in development, trade, and international cooperation, and provides policy advice to governments. Previously, he served as Chief Economist of the East Asia and Pacific Region. He was also Co-Director of the World Development Report 2020 on Global Value Chains and Research Manager, Trade and Integration. Before he joined the Bank, Mr. Mattoo was Economic Counsellor at the World Trade Organization and taught economics at the University of Sussex and Churchill College, Cambridge University. He holds a Ph.D. in Economics from the University of Cambridge, and an M.Phil in Economics from the University of Oxford. He has published on development, trade, trade in services, and international trade agreements in academic and other journals and his work has been cited in the Economist, Financial Times, New York Times, and Time Magazine.

The Policy Research Talks showcase the latest findings of the World Bank’s Research Group, challenge and contribute to the institution’s intellectual climate, and re-examine conventional wisdom in current development theories and practice.

These talks facilitate a dialogue between researchers and operational staff and inform World Bank operations both globally and within partner countries.

Register here to receive email notifications about our events!