Governments and development agencies constantly plan, implement, and evaluate various development interventions, i.e., projects, programs, and policies. These interventions vary in scale and coverage, ranging from those specific to a group, region, resource, or sector to those universal and global in scope. Considering the flow and magnitude of investments involved, there is an understandable concern over the actual impacts that these interventions generate. Despite this concern, two key aspects having a central role in determining the magnitude and sustainability of development impacts continue to lack recognition and treatment both in economic literature and in development policy. These are: (a) the role institutions play in impact generation and transmission and (b) the synergies inherent among past, ongoing, and planned interventions. The insufficient treatment of institutional roles and the failure to account for development synergies could create fundamental bias in development planning and impact assessment. This problem is particularly serious in the context of meta-development goals such as the Millennium Development Goals (MDGs), where the realization of the final goal is linked with the realization of several intermediate, but related goals of a hierarchy of development interventions, all of which require an effective institutional framework for their implementation and monitoring.
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Saleth, R.M., Dinar, A., Neubert**, S. (2008). Evaluating the Institution-Impact Interactions in the Context of Millennium Development Goals. In: Koundouri, P. (eds) Coping with Water Deficiency. Environment & Policy, vol 48. Springer, Dordrecht. https://doi.org/10.1007/978-1-4020-6615-3_8
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