ANA MARGARIDA FERNANDES is a Senior Economist in the Development Research Group (Trade and Integration Unit). She joined the World Bank as a Young Economist in 2002. Her current research focuses on the consequences of openness to trade and FDI for firm-level outcomes such as productivity, technological innovation, quality upgrarding, and skilled labor demand. She has studied more broadly the determinants of firm-level performance, including the role of the business environment, in Bangladesh, India, Malaysia, Thailand, countries in Central America, and transition economies. She has also examined the consequences of liberalization and openness of the services sector to FDI for the performance of services firms and for the performance of manufacturing services users. Recently she has studied issues relating to professional services in Eastern and Southern Africa. She is currently studying the effects of trade and industrial policies for agglomeration of manufacturing industries in India. She received her M.A., M. Phil., and Ph.D. in Economics from Yale University and a B.A. from Universidade Nova de Lisboa, Portugal.