How Effective is the Policy Modeling in Analyzing and Solving Real Socio-Economic Problems?

ECO REVISTA ACADEMICS 12(2), 2015

13 Pages Posted: 30 Jan 2015

See all articles by Mario Arturo Ruiz Estrada

Mario Arturo Ruiz Estrada

University of Malaya (UM) - Faculty of Economics & Administration (FEA)

Ibrahim Ndoma

University of Malaya (UM) - Faculty of Economics & Administration (FEA)

Date Written: January 30, 2015

Abstract

This article explores the effectiveness of policy modeling papers in analyzing and solving real socio-economic problems. In essence, the paper extends the significance of policy modeling research beyond mere theory, but as practical instruments applicable to solving real socioeconomic problems. The paper proposes the introduction of a new policy implementation section in policy modeling papers that should clearly and logically propose strategic effective policies for action; and the use of a new index called ‘Policy Implementation Effectiveness" (PIE-index), with which the effectiveness of policy modeling papers for real practical purposes could be evaluated. From the analyses carried out, which are based on both primary and secondary data sources, the article argues that policy modeling papers could actually be evaluated to understand the degree of their effectiveness to analyzing and solving real socio-economic problems affecting society on different levels.

Keywords: Econographicology, policy modeling, policy implementation, policy implementation effectiveness (PIE-index)

JEL Classification: E65

Suggested Citation

Ruiz Estrada, Mario Arturo and Ndoma, Ibrahim, How Effective is the Policy Modeling in Analyzing and Solving Real Socio-Economic Problems? (January 30, 2015). ECO REVISTA ACADEMICS 12(2), 2015. Available at SSRN: https://ssrn.com/abstract=2557877

Mario Arturo Ruiz Estrada (Contact Author)

University of Malaya (UM) - Faculty of Economics & Administration (FEA) ( email )

Kuala Lumpur, 50603
Malaysia
+60126850293 (Phone)

HOME PAGE: http://ssrc.um.edu.my/

Ibrahim Ndoma

University of Malaya (UM) - Faculty of Economics & Administration (FEA) ( email )

University of Malaya
Kuala Lumpur, Wilayah Persekutuan 50603
Malaysia

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