Global Center for Economic Growth Inaugural Growth Academy
Ufuk Akcigit, Arnold C. Harberger Professor of Economics, University of Chicago
Somik Lall, Director of the World Bank’s 2024 World Development ReportWorld Development Report 2024
World Development Report 2024 Website
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Explore the Growth Academy
According to the World Bank, middle-income countries are home to 75 percent of the global population and account for nearly one-third of the global GDP. Since the 1990s, they have made significant progress in reducing poverty, creating the impression that growth continues to be on a robust trajectory for the future. Yet, a closer look at their track record reveals a more nuanced picture: more than 100 middle-income countries aim to make it to the high-income bracket in the next few decades, but only a small fraction of the population in middle-income countries has successfully transitioned to high-income status in recent years, indicating a difficult path ahead.
Today, the situation in middle-income countries is more complex than ever. With rising debt, declining populations, and trade barriers from developed nations, the challenges are mounting. The urgent need to transition to clean energy further limits growth opportunities. For the nearly 6 billion people living in these countries, the goal of reaching high-income status in a generation or two is becoming increasingly difficult, with their GDP per capita still significantly below that of the United States.
Economic growth is a challenging journey for any nation, yet growth is slower, different, and harder for middle-income countries. Given the challenges, how can these countries break free from the middle-income trap? From investing in education, talent allocation, institutional reforms, and sustainable energy policies, how should policymakers shape their agenda based on their country’s unique growth path? What should policymakers do to overcome the challenges along the way?
Hosted by the University of Chicago and the World Bank, the Growth Academy offers a unique and interactive learning environment to tackle these pressing questions. This two-week transformative summer school, in its inaugural year, is specifically designed for researchers and policymakers from middle-income countries. It will serve as a gateway to cutting-edge insights from leading experts in the field, with participants from more than two dozen countries attending this exclusive program.
The program is divided between the University of Chicago and the World Bank Headquarters in Washington, D.C. This unique setup allows participants to spend one week at each venue, providing the opportunity to directly engage with distinguished academics, including Nobel laureates, and prominent World Bank researchers.
This year, the Growth Academy curriculum will also foster interactive discussions about the key findings of the World Development Report 2024, the flagship publication of the World Bank that focuses on implementing effective and sustainable growth policies in middle-income countries through creative destruction.
Building on the report’s insights, the Academy aims to equip its participants with innovative perspectives on economic development in middle-income countries. The program’s goal is to lay the foundation for a global collaborative network of researchers, academics, and practitioners for the continuous exchange of ideas long after the Academy concludes.
Contact us at growthacademy@uchicago.edu for further details and inquiries.
Featured Speakers
The Growth Academy will feature leaders in academia and policy from around the world.
Chicago Photos
DC Photos
Week 1 - Chicago (July 22 - July 26)
Ufuk Akcigit
Michael Greenstone
Lars Peter Hansen
James Heckman
Chang-Tai Hsieh
Michael Kremer
John List
Chad Syverson
Week 2 - Washington, D.C. (July 29 – August 2)
Ufuk Akcigit
Attending Countries
Agenda
- Week 1 event times are listed in CST. It will take place on the University of Chicago campus, Saieh Hall Room 146.
- Week 2 event times are listed in EDT. It will take place on the World Bank Headquarters, Washington, D.C. 13th Floor, Room 121.
Lecture Slides
Week 1 – Chicago
Monday, 22 July
Indermit Gill – The Middle Income Trap
Philippe Aghion – The Power of Creative Destruction
Tuesday, 23 July
Somik Lall – Energy, Emissions, and Creative Destruction
Wednesday, 24 July
Fabrizio Zilibotti – Creative Destruction and
Distance to Frontier: Implications for Emerging Economies
Josh Lerner – Growing Entrepreneurial Clusters
Thursday, 25 July
Chad Syverson – Productivity and Reallocation
Week 2 – Washington, D.C.
Monday, 29 July
Somik Lall – The Middle Income Trap
Ekaterina Vostroknutova – Policies to Promote Enterprise and Discipline Incumbents
Forhad Shilpi – Strengthening creation and weakening preservation: Social mobility and talent development in MICs
Tuesday, 30 July
William Maloney – Solving Productivity Puzzles with Better Data
Norman Loayza – Economic Growth Through Productivity, Transformation and Resilience: A Practitioners’ Perspective
Tatjana Kleinberg – Allocating Talent Efficiently to Unlock Economic Development
Wednesday, 31 July
Roberto N. Fattal Jaef – Distortions and Firm Dynamics in Middle-Income Countries
Franziska Ohnsorge – Growth Challenges in South Asia
Andrew Toole – Leveraging Intellectual Property (IP) for Innovation and Growth: Perspectives from an IP Office Chief Economist