Peterson Institute for International Economics 90d ago

The Peterson Institute for International Economics hosts a timely briefing on industrial policy for development in the 21st century, drawing on a new World Bank report that examines the resurgence of industrial policy amid slower global growth, shifting labor markets, and rising protectionism. The report reveals that developing economies are the heaviest users of these tools, with upper-middle-income countries providing business subsidies averaging 4.2 percent of GDP—the highest on record—alongside higher, more targeted tariffs and a broader focus on specific industries in national development plans, compared with high-income economies. In this session, report authors Tristan Reed and Ana Fernandes deliver remarks outlining the report’s key findings and practical guidance on policy design, targeting, and implementation across 15 distinct tools. They then join PIIE experts Chad P. Bown and Mary E. Lovely in a moderated discussion to explore the implications for economic development, global trade, and policy choices in today’s uncertain environment. A discussion with the audience follows. MODERATOR Chad P. Bown Reginald Jones Senior Fellow, PIIE SPEAKERS Ana Margarida Fernandes Lead Economist, Development Research Group, World Bank Mary E. Lovely Anthony M. Solomon Senior Fellow, PIIE Tristan Reed Economist, Development Research Group, World Bank For more information, visit: https://www.piie.com/events/2026/industrial-policy-development Subscribe to receive notices of upcoming PIIE events: https://www.piie.com/subscribe Follow the Peterson Institute for International Economics on social media! Twitter: https://twitter.com/piie LinkedIn: https://www.linkedin.com/company/piie Bluesky: https://bsky.app/profile/piie.com