About the project
The 21st century is defined by the need to respond to major social, environmental, and economic challenges. In order to address these challenges governments are recognising the need to go beyond market-fixing approaches and actively co-shape and co-create new markets. A limited and compartmentalised public sector lacks the dynamic capabilities to produce policies of an innovative nature. Even if such policies existed current appraisal and evaluation practices would not be able to capture the various ways a policy programme can produce meaningful public value.
On behalf of the Better Regulation Executive at the Department for Business, Energy and Industrial Strategy, IIPP is seeking to identify alternative policy evaluation frameworks and tools. The IIPP team has conducted an extensive review of current policy appraisal and evaluation methods across all fields. The team carefully inspected whether the policy frameworks were of a market shaping, market fixing nature or non-market oriented, and also whether they focussed on measuring public or private value. This work has captured and analysed a spectrum of alternative policy evaluation and appraisal methodologies. Based on the research, IIPP will be able to highlight instances of policy best practice, as well as propose an ideal standard for policy evaluation which will best capture the value created when dynamic, market shaping innovation oriented policies are implemented.