News Release

Brookings Institution Launches Global Economy and Development Program

June 30, 2006

The Brookings Institution announced today the launch of the Global Economy and Development Program, which on July 1 will become the fifth major program at Brookings, joining Economic Studies, Foreign Policy Studies, Governance Studies, and Metropolitan Policy Studies. Lael Brainard—vice president, holder of the Bernard L. Schwartz Chair in International Economics, and current director of the Brookings Global Economy and Development Center—will head the new program.

“In recent years, the impact of globalization has become a central concern for policymakers, business executives, and civil society, not only in the U.S. but around the world,” said Strobe Talbott, president of the Brookings Institution. “The mission of the Global Economy and Development Program will be to examine changes in the global economy in areas ranging from trade to poverty to the rise of new economic powers.”

Under Brainard’s leadership, the program will address the full range of issues surrounding the global economy and development, including energy security, trade and competitiveness, pandemic diseases and poverty alleviation. The new program will broaden the economic dimensions of Brookings’s already extensive work on new global powers such as China, India, Brazil, and Russia. Working together with the Institution’s other research programs, especially Foreign Policy Studies, the Global Economy and Development Program will help fulfill the Brookings commitment to building an international team that combines breadth and depth across the full spectrum of public policy issues to advance U.S. and global prosperity, security, and political sustainability.

“The goal of this new program is to offer compelling recommendations, founded on fact-based research and sound analysis, in order to materially shape the policy debate on both the opportunities and challenges created by an increasingly globalized world,” Brainard said. “We intend to offer practical advice to policymakers both in the U.S. and abroad on how to harness the power and potential of globalization.”

Major support for the program has come from James D. Wolfensohn, Bernard L. Schwartz, Richard C. Blum, and the William and Flora Hewlett Foundation.

About Brookings

The Brookings Institution is a nonprofit organization based in Washington, D.C. Our mission is to conduct in-depth, nonpartisan research to improve policy and governance at local, national, and global levels.