GFDD Joined the Discussion on Rethinking Productive Policies for Regional Development

On October 9, 2014, GFDD representatives attended the event “Good-Bye Industrial Policy, Hello Productive Development Policy” hosted by the Inter-American Development Bank (IADB) in Washington, D.C. In this event, the IADB launched their new book called “Rethinking Productive Development: Sound Policies and Institutions for Economic Transformation”, which aims to help countries to adopt the productive development
policies necessary to prosper while avoiding the mistakes of the past.

The conference was moderated by Mr. José J. Ruíz, IADB Chief Economist, and consisted on a presentation of the publication’s results by Mr. Eduardo Fernández Arias and Mr. Ernesto Stein, both Senior Advisors for the IADB’s Research Department. Participants later joined a discussion and debate panel led by Mr. Juan Carlos Iragorri, Director of Club de
Prensa NTN24, Mr. Andrés Velasco, ex Finance Minister of Chile, Mr. Joao Ferraz, Managing Director, BNDES Brasil, Mr. Piero Ghezzi, Minister of Production of Peru and Mr. Alberto Trejos, ex-Minister of Commerce of Costa Rica.

During the event, panelists emphasized the need of a new political productivity policy approach for the Latin American region, and the urgency to identify those sectors with
latent competitiveness potential but facing market failures to be able to tackle them more directly. Experts also noted that industrial policy in Latin America has had mixed results over the years, but there is a consent on the need of a post-Washington-Consensus policy.

By participating in this type of events, GFDD continues fostering progress, collaboration and exchange of best practices and lessons learned for the Dominican Republic and the Western
Hemisphere.

For more information on this IADB publication, click here.