Economic stimulus in the forms of grants, awards, and innovation competitions are common tools used routinely at national levels in government and often increases as a mechanism in times of economic instability. Administration of such programs can be centralized in particular agencies or spread across a number of government departments.
Goals and Objectives
Governments need to identify sectors where incentives are needed, apportion and pay funds appropriately, monitor the progress of projects, and evaluate effectiveness of the stimulus in achieving economic outcomes.
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Use Case Summary
Development of the national economy can often be imperfect, and interventions are needed over time in the form of economic stimulus to intervene where the market does not. Targeting the right fiscal interventions in the right sector to deliver the desired outcomes is a long-term process that needs to be managed responsibly.