Justin Yifu Lin

Justin Yifu Lin was the first World Bank Chief Economist from a developing country, serving from 2008 to 2012. He developed "new structural economics" — a framework arguing that development should follow a country's comparative advantage at each stage of economic development, with active state guidance to facilitate industrial upgrading. His views contrasted with Washington Consensus prescriptions and drew on China's own development experience. Lin returned to Peking University where he continues to advocate for alternative development economics frameworks. He has written extensively on infrastructure finance as a driver of economic growth in developing nations, and has participated in global debates about the role of multilateral development banks in financing the energy transition in emerging markets. His framework for state-led industrial policy has gained renewed international attention as more advanced economies have embraced industrial policy after decades of skepticism.