What is a policy instrument?
A policy instrument is a means of public intervention. It refers to any strategy, programme, or law developed by public authorities and implemented to improve a specific territorial situation. In most cases, financial resources are allocated to a policy instrument.
However, an instrument can also refer to a strategy or legislative framework with no specific funding (e.g., a Smart Specialisation Strategy) as long as this strategy or legislative framework comply with the above definition (i.e., ‘developed by public authorities and implemented to improve a specific territorial situation’). In principle, internal documents of organisations (e.g., mission statements, in-house strategic orientations) does not qualify as policy instruments.
In the context of Interreg Europe, operational programmes under the Investment for jobs and growth goal are ‘policy instruments’. Beyond the EU’s cohesion policy programmes, local, regional, or national public authorities implement their own policy instruments, which can also be addressed by Interreg Europe projects.
Watch the video to find out:
- What is a policy instrument (2:50 - 4:05)
- Examples of policy instruments and how to improve them (5:01 - 9:39)