Accounting for the constraints faced by policymakers and improving research capacity in low- and middle-income countries can increase the impact of economic research
Read "THE POLITICAL ECONOMY OF ECONOMIC POLICY ADVICE" by Stefan Dercon here.
Researchers want to maximise the development impact of their advice, but often their suggestions of an optimal policy or intervention do not account for the constraints faced by policymakers. In this episode of VoxDevTalks, Stefan Dercon discusses how giving "second-best advice" which takes into account the political feasibility of policies can improve the impact of research. Stefan also discusses the extractive nature of economic research and why this makes the work of the Centre for the Study of African Economies and other institutions that look to build research capacity in low- and middle-income countries so important.