SMU Associate Professor of Finance Annie Koh pointed out the difficulty in measuring outcomes using the Net Economic Value (NEV) approach, especially in today's "highly uncertain climate" and said that the NEV framework might also lead to silos and non-collaboration between different agencies. Citing how civil servants worked across ministries and agencies to craft the Jobs Credit scheme during the financial crisis between 2008 and 2009, Dr Koh added: "If everything has to be justified by NEV measures, we will not have been able to ride out that stormy period quite so successfully."
Channel NewsAsia