''Communications as a Policy Tool'' By Gerry Rice and Olga Stankova

When it comes to forging economic policy, communicating with the public is no longer an afterthought. Instead, communications are increasingly seen as a policy tool in itself. To be sure, communications can never be a substitute for good policies. But economic reforms are more likely to fail or even be reversed unless they are understood, believed, and accepted by those whom they affect. The same principle applies to a wide range of policies—monetary, financial, fiscal, and structural.

The proliferation of social media makes it possible for ever more people to express their views on public policies, fueling rising expectations for transparency and accountability across the globe. As a result, policymakers face growing pressure to better explain their actions to a broader public and show that they merit support. That means they will have to work harder to make their messages heard, understood, and believed.

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