Uploaded April 2026 | Updated September 2026, 1 week 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: piie.com/events/2026/industrial-policy-development
Subscribe to receive notices of upcoming PIIE events:
piie.com/subscribe
Follow the Peterson Institute for International Economics on social media!
Twitter: twitter.com/piie
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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: piie.com/events/2026/industrial-policy-development
Subscribe to receive notices of upcoming PIIE events:
piie.com/subscribe
Follow the Peterson Institute for International Economics on social media!
Twitter: twitter.com/piie
LinkedIn: linkedin.com/company/piie
Bluesky: https://bsky.app/profile/piie.com
