Person:
Tran, Trang Thu

Last updated: May 19, 2025

Biography

Trang Thu Tran is a senior economist in the Economic and Market Research Unit of the International Finance Corporation. Her current research focuses on the role of technology and the private sector in the green transition. Her other research and operational experience spans such topics as firm resilience to shocks; the effects of regulatory reforms; and the design and evaluation of programs to support firms, such as supplier development programs and incentives for technology adoption. She holds a PhD in development economics from the University of Maryland at College Park.

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Now showing 1 - 9 of 9

Green Technologies: Decarbonizing Development in East Asia and Pacific
(Washington, DC: World Bank, 2025-05-19) de Nicola, Francesca; Mattoo, Aaditya; Tran, Trang Thu
The East Asia and Pacific region is helping the world decarbonize and is encouraging the domestic adoption of renewables. But there is an imbalance: while the region’s innovation and investment improve global access to green technologies, its own emissions continue to grow because of the reluctance to penalize carbon-intensive practices. The disparity between domestic supply and demand spills over into international trade, provoking measures by other countries that limit access to markets and technologies. "Green Technologies: Decarbonizing Development in East Asia and Pacific" argues that deeper reform of the region’s own policies will encourage the domestic diffusion of cleaner technologies and may also foster greater international cooperation—on climate as well as on innovation and trade in green goods. The book proposes a framework to guide policy on green technology development and diffusion. It will be of interest to policy makers, businesses, and researchers working at the intersection of economics and environmental policy.
The Innovation Imperative for Developing East Asia
(Washington, DC: World Bank, 2021-02-23) de Nicola, Francesca; Cirera, Xavier; Kuriakose, Smita; Mason, Andrew D.; Tran, Trang Thu; Mare, Davide S.; de Nicola, Francesca
After a half century of transformative economic progress that moved hundreds of millions of people out of poverty, countries in developing East Asia are facing an array of challenges to their future development. Slowed productivity growth, increased fragility of the global trading system, and rapid changes in technology are all threatening export-oriented, labor-intensive manufacturing—the region’s engine of growth. Significant global challenges—such as climate change and the COVID-19 pandemic—are exacerbating economic vulnerability. These developments raise questions about whether the region’s past model of development can continue to deliver rapid growth and poverty reduction. Against this background, The Innovation Imperative in Developing East Asia aims to deepen understanding of the role of innovation in future development. The report examines the state of innovation in the region and analyzes the main constraints that firms and countries face to innovating. It assesses current policies and institutions, and lays out an agenda for action to spur more innovation-led growth. A key finding of the report is that countries’ current innovation policies are not aligned with their capabilities and needs. Policies need to strengthen the capacity of firms to innovate and support technological diffusion rather than just invention. Policy makers also need to eliminate policy biases against innovation in services, a sector that is growing in economic importance. Moreover, countries need to strengthen key complementary factors for innovation, including firms’ managerial quality, workers’ skills, and finance for innovation. Countries in developing East Asia would also do well to deepen their tradition of international openness, which could foster openness in other parts of the world. Doing so would help sustain the flows of ideas, trade, investment, and people that facilitate the creation and diffusion of knowledge for innovation.
Unmasking the Impact of COVID-19 on Businesses: Firm Level Evidence from Across the World
(World Bank, Washington, DC, 2020-10) Apedo-Amah, Marie Christine; Avdiu, Besart; Cirera, Xavier; Cruz, Marcio; Davies, Elwyn; Grover, Arti; Iacovone, Leonardo; Kilinc, Umut; Medvedev, Denis; Maduko, Franklin Okechukwu; Poupakis, Stavros; Torres, Jesica; Tran, Trang Thu
This paper provides a comprehensive assessment of the short-term impact of the COVID-19 pandemic on businesses worldwide with a focus on developing countries. The results are based on a novel data set collected by the World Bank Group and several partner institutions in 51 countries covering more than 100,000 businesses. The paper provides several stylized facts. First, the COVID-19 shock has been severe and widespread across firms, with persistent negative impact on sales. Second, the employment adjustment has operated mostly along the intensive margin (that is leave of absence and reduction in hours), with a small share of firms laying off workers. Third, smaller firms are disproportionately facing greater financial constraints. Fourth, firms are increasingly relying on digital solutions as a response to the shock. Fifth, there is great uncertainty about the future, especially among firms that have experienced a larger drop in sales, which is associated with job losses. These findings provide a better understanding of the magnitude and distribution of the shock, the main channels affecting businesses, and how firms are adjusting. The paper concludes by discussing some avenues for future research.
Making It Big: Why Developing Countries Need More Large Firms
(Washington, DC: World Bank, 2020-09-16) Ciani, Andrea; Hyland, Marie Caitriona; Karalashvili, Nona; Keller, Jennifer L.; Ragoussis, Alexandros; Tran, Trang Thu
Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top” of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.
Firms’ Recovery from COVID-19 in Malaysia: Results from the 4th Round of COVID-19 Business Pulse Survey
(Washington, DC: World Bank, 2022-02-28) Kuriakose, Smita; Tran, Trang Thu; Ting, Kok Onn; Hebous, Sarah Waltraut
The Coronavirus disease 2019 (COVID-19) business pulse survey (BPS) is a rapid survey designed to measure the various channels of impact of COVID-19 on firms, firm adjustment strategies, and public policy responses. The World Bank, in collaboration with a private survey company, conducted the 4th round of the Malaysia BPS in February to March 2022, following the 1st round in October 2020, 2nd round in Mid-January to February 2021, and 3rd round in July 2021. Firms were sampled randomly from an online business panel database, which consists of 100,000+ companies in all sectors and sizes, across Peninsular and East Malaysia. A minimum sample size was obtained for sectors that are important to Malaysia’s economy and are sensitive to the COVID-19 crisis (export-oriented activities: electronics, automotive, tourism related activities) while preserving the sectoral shares in the sampling frame. The survey was conducted online and yielded 1,500 responses from respondents in senior management positions at their company (i.e. owners, C-suite or Director level).
Productivity in the Time of COVID-19: Evidence from East Asia and Pacific
(World Bank, Washington, DC, 2021-04-26) De Nicola, Francesca; Timmis, Jonathan; Tran, Trang Thu; Mattoo, Aaditya; de Nicola, Francesca
Firms in the East Asia and Pacific (EAP) region have been hit hard by the COVID-19 (coronavirus) pandemic, with dramatic and widespread falls in sales and employment. Firm sales in some EAP countries were 38 to 58 percent lower in April or May 2020, compared to the same month in the previous year. Small and medium-sized enterprises (SMEs) have been particularly affected. The pandemic will have a lasting impact on productivity growth as firm indebtedness and increased uncertainty inhibit investment, and firm closures and unemployment lead to a loss of valuable intangible assets. Support for firms is needed but must be based as far as possible on objective criteria, related not only to past performance or current pain but to the potential for firms, including new firms, to thrive in the future. To avoid unduly prolonging assistance, governments should build exit strategies into the design of support measures and commit to phasing support out by linking it to observable macroeconomic indicators of recovery.
Investment Climate Assessment of Bhutan: Removing Constraints to Private Sector Development to Enable the Creation of More and Better Jobs
(World Bank, Washington, DC, 2017-09) Santini, Massimiliano; Tran, Trang Thu; Beath, Andrew
The 2017 Investment Climate Assessment of Bhutan provides a detailed assessment of firm performance and constraints as they enter, operate, and exit domestic and international markets. The report provides policy recommendations that will support Bhutan to achieve an investment climate conducive to private sector growth, and the creation of productive and gainful employment.
The Large-Firm Wage Premium in Developing Economies
(World Bank, Washington, DC, 2019-09) Reed, Tristan; Tran, Trang Thu
Large firms pay higher wages. In developing economies, the large-firm wage premium is comparable to the average gap between male and female wages, or two-thirds of the gap between urban and rural wages. There is substantial variation across countries in the share of the premium that is explained by sorting of human capital into large firms. The average large-firm wage premium declines in national income and has declined over time. Across industries, it is highest in public utilities and commerce. These stylized facts suggest several hypotheses about differences between labor markets in developing and advanced economies.
Women at Work: How Can Investment Incentives Be Used to Enhance Economic Opportunities for Women?
(World Bank, Washington, DC, 2019-07) Kronfol, Hania; Nichols, Alison; Tran, Trang Thu
Around the world, women face persistent barriers in seeking to enter the labor force, attain leadership positions, and launch businesses. Gender inequality not only prevents women from achieving their full potential and gaining economic independence, but also inhibits the growth of national economies. In a context of growing global competition for private investment, policymakers face the timely challenge of ensuring that women are not left behind in the development agenda. This working paper identifies and analyzes investment incentives that governments can provide to businesses with the aim of promoting gender equality. Barriers to gender equality in the workplace include supply-side barriers that make it difficult for women to find jobs or investment financing, and demand-side barriers that make it more costly for firms or investors to hire or fund women. The paper discusses three main types of investment incentives that governments may use to address these barriers: (i) subsidies and grants, (ii) tax incentives, and (iii) public procurement incentives. Because incentives run the risk of creating market inefficiencies and leading to redundant outcomes, their use should be carefully conceived and implemented. The effectiveness of these instruments will depend on the underlying constraints to gender equality, the targeted policy goals, implementation features, and the broader enabling environment. Relevant studies and experiences from several countries are used to explore when and how governments might use investment incentives to promote gender equality.