Sustaining Growth

  • 08 - 09 Feb 2018
  • London, UK
  • EBRD
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Sustaining Growth

A two-day workshop will explore the challenge of sustaining growth in middle-income economies building on the findings of the EBRD Transition Report 2017-18.

The background papers for the report, to be presented at the conference, focus on patterns of growth across countries, the role of infrastructure and green economy in ensuring that growth is sustainable, the interplay between finance and the green economy, and the challenge of maintaining productivity growth as economies grow richer.

The panel of experts on Friday morning will debate the key elements of the new growth model that the region needs. The workshop will feature leading academics, policy experts and economists from international organizations.


Reducing non-performing loans: Stylized facts and economic impact

Corporate Borrowing and Debt Maturity:Market Access and Crisis Effects

Financial Development and Industrial Pollution

The landscape of economic growth: do middle-income countries differ?

Growth opportunities in the low-carbon economy

Foreign Investment and Domestic Productivity

Why Don’t Poor Countries Do R&D?

Convergence Success and the Middle-Income Trap

Are clean technologies part of a sensible industrial strategy forEastern Europe?

Accounting for structural change over time: a case study of three middle-income countries


EBRD Headquarters

Broadgate City of London,

1 Exchange Square,

London EC2A 2JN


Conference on Growth in Middle-Income Economies

Supported by the Korea Trust Fund

Preliminary Programme

Board room, 10th floor, EBRD, London, 8-9 February 2018

Thursday, 8 February 2018

9.00–9.30 Coffee and registration

9.30-9.40  Opening remarks by Sergei Guriev (EBRD)

                        Session Chair: Ralph de Haas (EBRD)

9.40–10.20      Jong-Wha Lee (Korea University)

                        Convergence success and the middle-income trap

                        Discussant: Jing Zhang (Chicago Federal Reserve Bank)

10.20–11.00    Kei-Mu Yi (University of Houston)

                       Structural change in middle-income countries        

                       Discussant: Era Dabla-Norris (International Monetary Fund)     

11.00–11.30    Coffee break

11.30- 12.10  Donghyun Park (Asian Development Bank)

 The landscape of economic growth: do middle-income countries differ?

 Discussant: Andrew Powell (Inter-American Development Bank)

12.10- 12.50  Maria Balgova (University of Oxford)

                      Reducing non-performing loans: Stylized facts and economic impact  

                    Discussant: Thorsten Beck (Cass Business School)

12.5014.00    Lunch

            Session Chair: Nathaniel Young (EBRD)

 14.00- 14.40    Carolina Villegas-Sanchez (ESADE) 

Foreign investment and domestic productivity: Identifying knowledge spillovers and competition effects

Discussant: Çağatay Bircan  (EBRD)


14.40 – 15.20    Kerem Cosar (University of Virginia)

Road capacity, domestic trade and regional outcomes

Discussant: Stephen Gibbons (London School of Economics)

15.20- 15.40    Coffee/ Tea

15.40- 16.20    Edwin A. Goñi Pacchioni (Inter-American Development Bank)
                        Why poor countries invest too little in R&D
                        Discussant: Reinhilde Veugelers (Bruegel and KU Leuven)

19.00        Conference Dinner (by invitation)

Friday 9 February 2018

9.00–9.30 Coffee and registration

                                        Keynote address

9.30-10.30     Philippe Aghion (London School of Economics and PSE)

Firms dynamics in Korea's transition from middle to high income

10.30 – 11.00  Coffee/Tea


11.00 – 12.30  Panel discussion

            Convergence: Beyond the middle-income trap

            Moderator: Sergei Guriev (EBRD)

          Erik Berglof (London School of Economics)
          Ha-Joon Chang (University of Cambridge)
          Era Dabla-Norris (International Monetary Fund)

12.30 – 13.30 Lunch

  Session Chair: Helena Schweiger (EBRD) 

13.30–14.10   Alexander Popov (European Central Bank)

            Financial development and industrial pollution

 Discussant: Francesca Cornelli (London Business School)

 14.10-14.40   Ralf Martin (Imperial College London)                 

                       Are green technologies a sensible industrial strategy in Eastern Europe?
                       Discussant: Guido Friebel (Goethe University)

14.40 – 15.00  Coffee/Tea


15.00- 15.40   Sergio Schmukler (World Bank)

              Firms’ access to capital markets

                        Discussant: Peter Eckley (Bank of England)

15.40- 16.20   Sam Fankhauser (London School of Economics)

  Green growth

                        Discussant: Stefan Dercon (Oxford)


16.20 – 16.30  Closing remarks and next steps


Conference Organisers: Nikola Milushev and Alexander Plekhanov

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