Author Name Variants
Fields of Specialization
Urban economics, Infrastructure economics, Climate change
Externally Hosted Work
Last updated April 12, 2023
Marianne Fay, an economist specializing in sustainable development, is the World Bank director for Bolivia, Chile, Ecuador and Peru. She has 25 years’ experience in different regions of the world, contributing to knowledge on and the search for development solutions in the areas of infrastructure, urbanization, climate change, green growth and poverty reduction. She has published and edited several books and articles, including the “World Development Report 2010: Development and Climate Change,” and the report “Infrastructure in Latin America and the Caribbean: Recent Developments and Key Challenges.” Marianne is a U.S.-French binational.
Publication Search Results
Now showing 1 - 7 of 7
Publication(World Bank, 2010) Fay, Marianne ; Block, Rachel I. ; Ebinger, JaneThe climate is changing, and the Eastern Europe and Central Asia (ECA) region is vulnerable to the consequences. Many of the region's countries are facing warmer temperatures, a changing hydrology, and more extremes, droughts, floods, heat waves, windstorms, and forest fires. This book presents an overview of what adaptation to climate change might mean for Eastern Europe and Central Asia. It starts with a discussion of emerging best-practice adaptation planning around the world and a review of the latest climate projections. It then discusses possible actions to improve resilience organized around impacts on health, natural resources (water, biodiversity, and the coastal environment), the 'unbuilt' environment (agriculture and forestry), and the built environment (infrastructure and housing). The last chapter concludes with a discussion of two areas in great need of strengthening given the changing climate: disaster preparedness and hydro-meteorological services. This book has four key messages: a) contrary to popular perception, Eastern Europe and Central Asia face significant threats from climate change, with a number of the most serious risks already in evidence; b) vulnerability over the next 10 to 20 years is likely to be dominated by socioeconomic factors and legacy issues; c) even countries and sectors that stand to benefit from climate change are poorly positioned to do so; and d) the next decade offers a window of opportunity for ECA countries to make their development more resilient to climate change while reaping numerous co-benefits.
Publication(World Bank, Washington, DC, 2007-11) Fay, Marianne ; De Rosa, Donato ; Pauna, CatalinLess restrictive product market policies are crucial in promoting convergence to higher levels of GDP per capita. This paper benchmarks product market policies in Romania to those of OECD countries by estimating OECD indicators of Product Market Regulation (PMR). The PMR indicators allow a comprehensive mapping of policies affecting competition in product markets. Comparison with OECD countries reveals that Romania's product market policies are less restrictive of competition than most direct comparators from the region and not far from the OECD average. Nonetheless, this achievement should be interpreted in light of the fact that PMR approach measures officially adopted policies. It does not capture implementation and enforcement, the area where future reform efforts should be directed if less restrictive policies are to have an effective impact on long-term growth prospects.
Publication(World Bank, Washington, DC, 2009-06) Fay, Marianne ; Block, Rachel ; Carrington, Tim ; Ebinger, JaneContrary to popular perception, Europe and Central Asia (ECA) countries are significantly threatened by climate change, with serious risks already in evidence. The vulnerability and adaptive capacity of ECA countries to climate change over the next two decades will be dominated by socio-economic factors and legacy issues. The next decade offers a window of opportunity for ECA to make its development more resilient to climate change while reaping co-benefits. Some impacts of climate change will likely remain manageable in the short-term but the costs of poorly designed or implemented policies could rise rapidly.
Publication(World Bank, Washington, DC, 2013-10) Hallegatte, Stephane ; Fay, Marianne ; Vogt-Schilb, AdrienGreen industrial policies can be defined as industrial policies with an environmental goal -- or more precisely, as sector-targeted policies that affect the economic production structure with the aim of generating environmental benefits. This paper provides a framework to assess their desirability depending on the effectiveness and political acceptability of price instruments. The main messages are the following. (i) Greening growth processes to the extent and with the speed needed cannot be done without industrial policies, even if prices can be adjusted to reflect environmental objectives. (ii) "Sunrise" green industrial policies are needed because they support the development of critical new technologies and sectors, bring down costs, and allow for reduced emissions in the short term even in the absence of carbon pricing. (iii) "Sunset" green industrial policies and trade policies may be needed in conjunction with safety nets to make carbon pricing politically or socially acceptable. They can help mitigate the impact of a carbon price on competitiveness and unemployment and smooth the transition by helping industries adjust to the new conditions. (iv) Green or not, industrial policy requires carefully navigating the twin dangers of market and governance failure. The viability of supported technologies and sectors is difficult to assess through a market-test given their dependence on continued environmental policies or pricing -- such as a carbon price. Particular attention must be paid to avoid potential unintended negative effects, such as rebound effects (especially if prices are inappropriate), misallocation of capital, or capture and rent-seeking behaviors.
Publication(World Bank Group, Washington, DC, 2014-11) Hallegatte, Stephane ; Bangalore, Mook ; Bonzanigo, Laura ; Fay, Marianne ; Narloch, Ulf ; Rozenberg, Julie ; Vogt-Schilb, AdrienClimate change and climate policies will affect poverty reduction efforts through direct and immediate impacts on the poor and by affecting factors that condition poverty reduction, such as economic growth. This paper explores this relation between climate change and policies and poverty outcomes by examining three questions: the (static) impact on poor people's livelihood and well-being; the impact on the risk for non-poor individuals to fall into poverty; and the impact on the ability of poor people to escape poverty. The paper proposes four channels that determine household consumption and through which households may escape or fall into poverty (prices, assets, productivity, and opportunities). It then discusses whether and how these channels are affected by climate change and climate policies, focusing on the exposure, vulnerability, and ability to adapt of the poor (and those vulnerable to poverty). It reviews the existing literature and offers three major conclusions. First, climate change is likely to represent a major obstacle to a sustained eradication of poverty. Second, climate policies are compatible with poverty reduction provided that (i) poverty concerns are carefully taken into account in their design and (ii) they are accompanied by the appropriate set of social policies. Third, climate change does not modify how poverty policies should be designed, but it creates greater needs and more urgency. The scale issue is explained by the fact that climate will cause more frequent and more severe shocks; the urgency, by the need to exploit the window of opportunity given to us before climate impacts are likely to substantially increase.
Publication(World Bank, Washington, DC, 2007-11) Fay, Marianne ; De Rosa, Donato ; Ilieva, StellaLess restrictive product market policies are crucial in promoting convergence to higher levels of GDP per capita. This paper benchmarks product market policies in Bulgaria to those of OECD countries by estimating OECD indicators of Product Market Regulation (PMR). The PMR indicators allow a comprehensive mapping of policies affecting competition in product markets. Comparison with OECD countries reveals that Bulgaria has made substantial progress towards less restrictive product market policies but also emphasizes a number of areas where further reform is needed. These include adoption of a regulatory process based on incentive-based rather than command-and-control approach, reduction of state interference in the decision of state-owned enterprises, further streamlining of business licensing procedures, and improvement in the communication of rules and procedures to affected parties.
Publication(Washington, DC: World Bank, 2015-06) Fay, Marianne ; Hallegatte, Stephane ; Vogt-Schilb, Adrien ; Rozenberg, Julie ; Narloch, Ulf ; Kerr, TomThe science is unequivocal: stabilizing climate change implies bringing net carbon emissions to zero. And this must be done by 2100 if we are to keep climate change anywhere near the 2 C. degree warming that world leaders have set as the maximum acceptable limit. Decarbonizing Development looks at what it would take to decarbonize the world economy by 2100 in a way that is compatible with countries’ broader development goals. It argues that the following are needed: Act early with an eye on the end-goal; Go beyond prices with a policy package that triggers changes in investment patterns, technologies and behaviors; Mind the political economy and smooth the transition for those who stand to be most affected.