01/30/2025 | Press release | Distributed by Public on 01/28/2025 18:11
Join the discussion on Youtube on January 30, 2025 at 10:00 AM EST
Industrial policies - strategic interventions designed to reshape an economy's production structure - have experienced a remarkable global resurgence. Some claim that these policies can be effective and justified when addressing clear and pressing market failures, such as climate change and environmental degradation. However, their overall track record is mixed. Their growing popularity is shaped primarily by domestic political economy considerations and rising geopolitical tensions. While industrial policies are typically employed by higher-income economies, they are also now used more frequently in economies with less administrative and fiscal capacity to implement them.
Join this ECA Talk to discuss the EBRD Transition Report 2024-25 and learn more about industrial policies.
Alexander Plekhanov is a Director for Transition Impact and Global Economics at the EBRD Office of the Chief Economist. He edits EBRD's annual economic report, the Transition Report, and Regional Economic Prospects. He has worked on global macroeconomic issues as well as a country economist on a number of countries, including Belarus, Kazakhstan, Mongolia and Russia. Prior to joining the Bank, Alexander worked as an economist at the International Monetary Fund.
Ms. Moorty is currently the Regional Director for East Asia and Pacific in the Equitable Growth, Finance and Institutions (EFI) Practice Group of the World Bank. Prior to this, she was the Regional Director for EFI in Europe and Central Asia. In her previous roles, she has been the Practice Manager for the European Union/Turkey and Manager in-charge for raising Funds for IDA. Ms. Moorty joined the World Bank in the year 2000 and has worked in several regions - including East Asia and Pacific, Europe and Central Asia, South Asia and Southern Africa. She holds a Doctorate in Economics, with a thesis on Risks and Costs associated with Real-time and Net Payments Systems in the United States.
Ivailo Izvorski is the Chief Economist for the Europe and Central Asia region. He assumed this position on December 1, 2022. Since joining the World Bank in 2005 as a Senior Country Economist for Bosnia and Herzegovina in the Poverty Reduction and Economic Management sector Unit, he has held various positions - including Lead Economist and Practice Manager in Europe and Central Asia, and his most recent assignment as Practice Manager for the Global Macro, Growth and Debt unit in the Macroeconomics, Trade and Investment (MTI) Global Practice.