Economic Research Forum (ERF)

Philippe Le Houérou

Author

Philippe Le Houérou
Chairman of the board of the Agence Française de Développement

Content by this Author

The World Bank should become the ‘IMF of climate’

Climate stability, like global macrofinancial stability, is a public good. Yet, while the International Monetary Fund has an operational mandate to preserve global macrofinancial stability, there is no comparable pairing of the internationally agreed operational mandate on climate stability with a global institution. As this Devex column explains, the World Bank could be that very institution.

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Labour demand and informal employment in Egypt’s manufacturing sector

Egypt’s manufacturing sector faces a dual challenge of weak job creation and persistent informality. Drawing on survey evidence on business behaviour and labour market dynamics, this column explains why job creation is limited and informal work remains such an integral part of how firms organise production. The generation of more formal jobs requires a comprehensive policy approach, one that goes beyond enforcement of labour regulations to reshape the economic environment in which firms and workers make decisions.

Challenges of conflict and industrial policy for development

How effective is industrial policy as a tool for long-term economic growth and development? Against the backdrop of the conflict currently engulfing the Middle East, North Africa, Afghanistan and Pakistan (MENAAP), a new report argues that while industrial policies are widely used across the region, they can only address market failures and foster growth when they are aligned with country capabilities, implemented with accountability and backed by capable institutions.

The green transition in MENA economies: challenges and policy pathways

The economies of the Middle East and North Africa are at a critical turning point. Global decarbonisation pressures, energy market volatility and technological transformation are increasingly challenging hydrocarbon-based growth models. This column argues that the green transition is not only an environmental necessity but also a strategic economic imperative.




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