Story perspectives

World Bank Endorses Industrial Policy for Economic Growth

4/17/2026

Summary

Story summary

The World Bank has reversed its opposition to industrial policy, now endorsing it as essential for economic success.
A recent report argues government intervention can effectively support industries, contrasting with the 1993 East Asian Miracle claim that the Asian Tigers thrived without it.
The findings cite case studies and emphasize structured policies to reduce corruption and inefficiency, while 80% of World Bank economists note increased demand for industrial policy advice.

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Story summary

The World Bank has reversed its opposition to industrial policy, now endorsing it as essential for economic success.
A recent report argues government intervention can effectively support industries, contrasting with the 1993 East Asian Miracle claim that the Asian Tigers thrived without it.
The findings cite case studies and emphasize structured policies to reduce corruption and inefficiency, while 80% of World Bank economists note increased demand for industrial policy advice.