Welcome to IFC Annual Flagship Conference
IFC partnered with the World Bank Chief Economist Office for Latin America and the Caribbean for its 2023 Annual Flagship Conference, focused on competition and productivity. Top academics, policymakers and private sector representatives convened at IFC's Headquarters in Washington D.C. to showcase cutting edge research exploring the interplay between competition, innovation, and productivity to foster private sector growth.
Featured Speakers
Adriana D. Kugler
World Bank
Alfonso Garcia Mora
IFC
Alexander MacKay
Harvard
Ana Paula Cusolito
World Bank
Chad Syverson
Chicago Booth
Charl Jooste
World Bank
Ekaterina Vostroknutova
World Bank
Eric Parrado
IDB
Florian Ederer
Yale
Ioana Marinescu
University of Pennsylvania; Principal Economist at the U.S. Department of Justice
James Brand
Microsoft
James Sampi
World Bank
Jan De Loecker
KU Leuven
Jan Eeckhout
UPF Barcelona
John Haltiwanger
University of Maryland
Luigi Zingales
Chicago Booth
Luis Cabral
NYU Stern
Makhtar Diop
IFC
Marc Schiffbauer
World Bank
Mari Pangestu
World Bank
Martha Martínez Licetti
World Bank
Matteo Bugamelli
World Bank
Mitsuru Igami
Yale
Monika Mrazova
University of Geneva
Nancy Lee
Center for Global Development
Natalia Fabra
Universidad Carlos III de Madrid
Niko Matouschek
Northwestern University
Rohit Chopra
Consumer Financial Protection Bureau
Steven Callander
Stanford
Susan Lund
IFC
Thomas Philippon
NYU Stern
Tommaso Valletti
Imperial College London
Tristan Reed
World Bank
William F. Maloney
World Bank
Click on the speaker’s name to access their presentations.
Monday, January 23rd
Time (EST)
8:00 AM
Registration & Breakfast
8:45 AM
Welcome Remarks
Susan Lund
Vice President of Economics and Private Sector Development, IFC
Session 1 | Big Picture: Competition, Markups, and Productivity
8:50 AM
Keynote Speech
University of Chicago Booth School of Business
9:20 AM
Invited Papers
Harvard University: Rising markups and the role of consumer preferences.
Microsoft: Differences in differentiation: Rising variety and markups in retail food stores.
10:20 AM
Panel Discussion: Competition, Markups, and Productivity
Moderator:
Matteo Bugamelli
Executive Director, WBG
Panelists:
Jan Eeckhout
Universitat Pompeu Fabra (UPF), Barcelona
John Haltiwanger
Department of Economics, University of Maryland
Chad Syverson
University of Chicago Booth School of Business
11:05 AM
Coffee Break
Session 2 | Competition Beyond National Product Markets: Global and Labor Market Competition
11:20 AM
Keynote Speech
KU Leuven
11:50 AM
Invited Paper
University of Pennsylvania and U.S. Department of Justice: Towards a More Competitive Labor Market
12:20 PM
Panel Discussion: Competition Beyond National Product Markets: Global and Labor Market Competition
Moderator:
Susan Lund, IFC
Panelists:
Ioana Marinescu
University of Pennsylvania and U.S. Department of Justice
Jan De Loecker
KU Leuven
1:05 PM
Lunch
Session 3 | Concentration, Entry, and Exit: Heterogeneity Across Industries
1:45 PM
Keynote Speech
Stern School of Business, NYU
2:15 PM
Invited Papers
Mitsuru Igami
Yale: Mergers, innovation, and entry-exit dynamics: Consolidation of the hard disk drive industry, 1996–2016.
World Bank: Competition and Productivity: Evidence from Peruvian Municipalities.
3:15 PM
Panel Discussion: Concentration, Entry, and Exit: Heterogeneity Across Industries
Moderator:
Panelists: Universidad Carlos III de Madrid (virtual)
Nancy Lee
Center for Global DevelopmentPanelists: Universidad Carlos III de Madrid (virtual)
Thomas Philippon
Stern School of Business, NYU
4:00 PM
Coffee Break
Session 4 | Competition and Political Economy
4:15 PM
Keynote Speech
Imperial College Business School, Former Chief Competition Economist of the European Commission (Directorate General for Competition)
4:45 PM
Invited Paper
University of Geneva: Harmonization. . .What Else? The Role for International Regulatory Agreements
5:15 PM
Panel Discussion: Competition and Political Economy
Moderator:
Panelists:
Mari Pangestu
Managing Director of Development Policy and Partnerships, World BankPanelists:
Steven Callander
Stanford Graduate School of Business
Tommaso Valletti
Imperial College Business School, Former Chief Competition Economist of the European Commission (Directorate General for Competition)
University of Chicago Booth School of Business (virtual)
6:00 PM
Reception
Tuesday, January 24th
Time (EST)
8:30 AM
Breakfast
Session 5 | Competition, Innovation, Productivity, and Investment
9:00 AM
Keynote Speech
Philippe Aghion
INSEAD, London School of Economics and College de France (virtual)
9:30 AM
Invited Paper
Northwestern University: The Novelty of Innovation: Competition, Disruption, and Antitrust Policy.
World Bank: Proximity to the Frontier, Markups, and the Response of Innovation to Foreign Competition.
World Bank: Proximity to the Frontier, Markups, and the Response of Innovation to Foreign Competition.
10:30 AM
Panel: Competition, Innovation, Productivity, and Investment
Moderator:
Panelists:
Adriana Kugler
Executive Director, WBGPanelists:
Jan De Loecker
KU LeuvenWilliam F. Maloney
World Bank Chief Economist for Latin America and the CaribbeanJohn Haltiwanger
Department of Economics, University of Maryland
11:15 AM
Coffee Break
Session 6 | Large Firms and M&A
11:30 AM
Keynote
Universitat Pompeu Fabra (UPF), Barcelona
12:00 PM
Invited Paper
Yale: Killer acquisitions
12:30 PM
Remarks By
Makhtar Diop
Managing Director, IFC
12:40 PM
Lunch
1:10 PM
Panel Discussion: Large Firms and M&A
Moderator:
Panelists:
Eric Parrado
IDB
Panelists:
Luis Cabral
Stern School of Business, NYU
Jan Eeckhout
Universitat Pompeu Fabra (UPF), Barcelona
Florian Ederer
YaleSession 7 | Competition Policy
1:55 PM
Panel Discussion: Competition Policy
Moderator:
Alfonso Garcia Mora, IFC
Panelists:Rohit Chopra
Consumer Financial Protection BureauTommaso Valletti
Imperial College Business School, Former Chief Competition Economist of the European Commission (Directorate General for Competition)
Martha Licetti
World Bank
2:40 PM
Coffee Break
3:00 PM
Invited Paper
World Bank: Introduction to the session
World Bank: Cartels, Antitrust Enforcement, and Industry Performance: Evidence from Mexico
World Bank: Antitrust Enforcement, Markups, and Productivity in South America
World Bank: How Regulation and Enforcement of Competition Affects ICT Productivity: Evidence from Matched Regulatory-Production Survey’s in Peru’s ICT Sector
4:20 PM
Event Ends
Trends in competition
How rising markups and concentration impact productivity growth?
Dimensions & levels of competition
Local vs. global market competition for products & labor
Large Companies, Concentration & National Champions
Can market concentration help growth? Has the pandemic reinforced the dominance of large firms?
Mergers & Acquisitions
M&A’s role in efficiency gains & the impact of ‘killer acquisitions’ for innovation
Competition, Innovation & Productivity
When are firms discouraged from innovating?
Competition and Political Economy
Relationship between competition and political power
The Regulators’ Perspective
How antitrust regulations & competition policy affect productivity