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Lozano-Gracia, Nancy

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Last updated: January 13, 2025
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Nancy Lozano-Gracia is a Lead Economist in the World Bank’s Office of the Regional Director for Sustainable Development for Latin America and the Caribbean, with more than 20 years of experience in applied economics and international development. She is also the co-lead for the Global Solutions Group on Spatial and Territorial Development. Since joining the World Bank in 2009, she has worked extensively on designing and delivering major analytical products across all regions. She holds a PhD in applied economics from the University of Illinois and a master’s degree in environmental and agricultural and resource economics from the University of Maryland and Universidad de los Andes, Colombia.

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    Overcoming Left-Behindedness: Moving beyond the Efficiency versus Equity Debate in Territorial Development
    (Washington, DC: World Bank, 2024-03-26) Rodríguez-Pose, Andrés; Bartalucci, Federico; Dávalos, Maria; Lozano-Gracia, Nancy
    Territorial development theory and practice have witnessed significant change in recent times. This change has increasingly put the spatial dimension at the center of development policies. Although agglomeration-focused policies derived from urbanization and agglomeration economics were once prominent, their empirical limitations have become increasingly apparent. Greater territorial polarization and pervasive left-behindedness have underscored the need for a more inclusive territorial development approach, prompting increased interest in understanding and addressing regional disparities to ensure more equitable economic growth. This paper synthesizes the growing interest in territorial development, which has driven the adoption of what are increasingly place-based and place-sensitive approaches to development. The paper also emphasizes the need for complementarity between efficiency-driven and equity-focused interventions, while highlighting emerging topics in regional economics research, including the role of institutions, agency, and external megatrends such as the green transition. The paper concludes by advocating a place-sensitive approach that tailors policies to regional challenges, promoting economic potential, diversification, and inclusivity across all regions.