IMF and World Bank Embrace Industrial Policy
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- IMF — In 2019, the IMF published a paper by Reda Cherif and Fuad Hasanov titled “The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy,” advocating a three‑pillar “True Industrial Policy” to spur faster growth in developing nations.
- World Bank — The 2023 report “Industrial Policy for Development: Approaches In the 21st Century” by Ana Margarida Fernandes and Tristan Reed argues that industrial policy can be layered onto macro‑stability measures, signalling the bank’s formal endorsement of state‑led growth tools.
- Joe Studwell — His 2013 book “How Asia Works” is cited as the intellectual catalyst behind the IMF and World Bank’s policy shift, showing how Asian “miracle” strategies are being re‑examined for modern development.
Why it matters: Not enough in the article to say why this matters.
