IMF How To Notes

How to Implement Strategic Foresight (and Why)

Author/Editor:

Alberto Behar ; Sandile Hlatshwayo

Publication Date:

December 22, 2021

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This note explains the value of strategic foresight and provides implementation advice based on the IMF’s experience with scenario planning and policy gaming. Section II provides an overview of strategic foresight and some of its tools. Scenario planning and policy gaming have been the Fund’s main foresight techniques so far, though other tools have been complementary. Accordingly, section III focuses on the scenario planning by illustrating applications before detailing the methods we have been using, while section IV describes policy gaming including the matrix policy gaming approach with which we have experimented so far. Section V summarizes the key points. In so doing, the note extends an invitation to those in the economics and finance fields (e.g., researchers, policymakers) to incorporate strategic foresight in their analysis and decision making.

Series:

IMF How To Notes

Subject:

Economic sectors Financial crises Financial institutions Financial markets Financial sector policy and analysis Health

Notes:

Online Annex

Frequency:

occasional