Setting Policy Targets and Evaluating Performance

The purpose of this book has been to review past Welsh economic performance, and to suggest and comment on policy alternatives to improve Wales' future economic position, in terms of general prosperity. This will be achieved by enhancing the scope and depth of economic activity in the next century Preceding chapters have hinted at gaps in available information, and there have been many arguments for research to further understanding of the ways in which the economy works. There has been commentary on the problems of the Welsh economy, along with discussion of possible solutions. However, information to assist the decision-making process in choosing between alternative policies is sparse, and methodologies are needed for a rigorous evaluation of the efficacy of current and potential future policies. These are complex empirical issues, not least because of the difficulties in disentangling policy impact from what would have happened in the absence of policy action. These are increasingly important matters, particularly in Scotland and Wales where newly-devolved governments are hungry for information and where transparency in policy-making will be demanded as well as clear evidence of success or failure.