IFC Flagship Conference on Competition and Productivity: Fostering Private Sector Growth

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

Philippe Aghion

INSEAD, London School of Economics, College de France

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

Download the agenda in PDF

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
Chad Syverson
University of Chicago Booth School of Business
9:20 AM
Invited Papers
Alexander MacKay
Harvard University: Rising markups and the role of consumer preferences.
James Brand
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
Jan De Loecker
KU Leuven
11:50 AM
Invited Paper
Ioana Marinescu
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
Thomas Philippon
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.
Marc Schiffbauer
World Bank: Competition and Productivity: Evidence from Peruvian Municipalities.
3:15 PM
Panel Discussion: Concentration, Entry, and Exit: Heterogeneity Across Industries
Moderator:
Nancy Lee
Center for Global Development
Panelists:
Natalia Fabra
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
Tommaso Valletti
Imperial College Business School, Former Chief Competition Economist of the European Commission (Directorate General for Competition)
4:45 PM
Invited Paper
Monica Mrazova
University of Geneva: Harmonization. . .What Else? The Role for International Regulatory Agreements
5:15 PM
Panel Discussion: Competition and Political Economy
Moderator:
Mari Pangestu
Managing Director of Development Policy and Partnerships, World Bank
Panelists:
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)
Luigi Zingales
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
Niko Matouschek
Northwestern University: The Novelty of Innovation: Competition, Disruption, and Antitrust Policy.
Ana Paula Cusolito
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:
Adriana Kugler
Executive Director, WBG
Panelists:
Jan De Loecker
KU Leuven
William F. Maloney
World Bank Chief Economist for Latin America and the Caribbean
John Haltiwanger
Department of Economics, University of Maryland
11:15 AM
Coffee Break
Session 6 | Large Firms and M&A
11:30 AM
Keynote
Jan Eeckhout
Universitat Pompeu Fabra (UPF), Barcelona
12:00 PM
Invited Paper
Florian Ederer
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:
Eric Parrado
IDB
Panelists:
Luis Cabral
Stern School of Business, NYU
Jan Eeckhout
Universitat Pompeu Fabra (UPF), Barcelona
Florian Ederer
Yale
Session 7 | Competition Policy
1:55 PM
Panel Discussion: Competition Policy
Moderator:
Alfonso Garcia Mora, IFC
Panelists:
Rohit Chopra
Consumer Financial Protection Bureau
Tommaso 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
Ekaterina Vostroknutova
World Bank: Introduction to the session
Tristan Reed
World Bank: Cartels, Antitrust Enforcement, and Industry Performance: Evidence from Mexico
James Sampi
World Bank: Antitrust Enforcement, Markups, and Productivity in South America
Charl Jooste
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

Livestreaming: IFC Annual Flagship Conference on Competition and Productivity




January 23rd



Morning Sessions

Session 1 | Big Picture: Competition, Markups, and Productivity.
Session 2 | Competition Beyond National Product Markets: Global and Labor Market Competition



Afternoon Sessions

Session 3 | Concentration, Entry, and Exit: Heterogeneity Across Industries
Session 4 | Competition and Political Economy



January 24th



Morning Sessions

Session 5 | Competition, Innovation, Productivity, and Investment
Session 6 | Large Firms and M&A



Afternoon Session

Session 7 | Competition Policy