Three Lead Economists from the ISET Policy Institute – Davit Keshelava, Mariam Lobjanidze, and Giorgi Papava – participated in the prestigious Growth Academy 2025, held in Bucharest, Romania, from May 22 to 24, 2025. The event, jointly organized by the World Bank, the University of Chicago, and the National Bank of Romania, brought together leading academics, policymakers, and development practitioners from across the Europe and Central Asia (ECA) region.

The Growth Academy focused on overcoming the middle-income trap and enhancing economic productivity, aligning closely with the themes of the World Development Report 2024. The three-day intensive program offered participants in-depth sessions on enterprise dynamism, human capital, and the role of energy in economic transformation.

The workshop featured keynote presentations from globally renowned economists. Notably, Prof. Philippe Aghion (INSEAD, London School of Economics, and Collège de France) delivered a compelling lecture on “The Power of Creative Destruction,” emphasizing the importance of innovation-driven growth strategies. Prof. Ufuk Akcigit (University of Chicago), co-director of the Growth Academy, contributed extensively throughout the event, leading discussions on the microfoundations of growth and country-specific reform experiences.

Other distinguished speakers included Dr. Indermit Gill (World Bank), Dr. Norman Loayza (World Bank), Dr. Somik Lall (World Bank), Prof. Javier Miranda (Friedrich Schiller University), and Dr. Ivailo Izvorski (World Bank), among others.

The ISET-PI team followed the workshop sessions with keen interest, exploring policy perspectives from across the region and beyond. The attendance of Lead Economists Davit Keshelava, Mariam Lobjanidze, and Giorgi Papava reflected ISET-PI’s ongoing engagement with regional policy dialogues and its interest in emerging approaches to productivity, growth, and the challenges facing middle-income economies in the ECA region.

The event concluded with a focus on actionable policy recommendations and regional cooperation to foster inclusive and sustainable economic growth.