Association for Public Policy Analysis & Management

Roundtable: Advancing the Power of Economic Evidence to Inform Investments in Children, Youth, and Families

(Family and Child Policy)

Decision makers (e.g., elected officials, administrators, private and public funders) are often tasked with the responsibility to decide when, where, and how to invest in interventions that support children, youth, and families. Economic evidence-- information produced by cost and outcome evaluations (e.g., cost analysis, cost-effectiveness analysis, benefit-cost analysis)-- is one type of evidence that, when used effectively, can better inform these investment decisions by helping decision makers determine not only “what works”, but “what works” within certain budget constraints. However, as the result of a number of challenges, economic evidence is not always effectively produced or used to its highest potential. These challenges may weaken society’s ability to make wise investments and, in turn, may reduce the demand for this and other types of evidence in the future. In this context, in the fall of 2014, The National Academies of Sciences, Engineering, and Medicine commissioned an ad hoc consensus committee to study how to improve the use of economic evidence to inform policy and funding decisions on investments for children, youth, and families. In their research efforts, the committee considered the perspectives and potential actions of stakeholders relevant to the topic of study (e.g., researchers, implementers, intermediaries, practitioners, private and public funders). As a result of their deliberations, the committee developed a report that highlights the potential for economic evidence to influence investments for children, youth, and families; describes current challenges to the optimal use of this evidence; and offers specific best practices and recommendations to the report’s stakeholders. It is the committee’s hope that these recommendations and best practices will serve as the basis for long-term improvements to the quality, use, and usefulness of economic evidence to inform investments in children, youth, and families. This roundtable will discuss the recommendations of the Academies' report—in particular opportunities for research to make government more effective. Members of the committee will be available to APPAM membership to contextualize committee findings and describe the committee road-map for increasing the quality and use of economic evidence for investing in children youth and families.