‘Measuring Peacebuilding Cost-Effectiveness’ is part of a webinar series which DME for Peace are hosting. DME for Peace is a global community of practitioners, evaluators, donors, and academics who share best and emerging practices on how to design, monitor, and evaluate peacebuilding programs. Through greater collaboration and transparency we hope to increase the effectiveness of the peacebuilding field.
The need to understand what works in peacebuilding, how to measure its impact and cost-effectiveness is essential to long-term efforts to prevent violence and build peace. Yet, there is much we collectively do not know about peacebuilding and its overall effectiveness. At a time when the US government and international community’s resources to international development and aid is under strain, the need to understand and invest in the most cost-effective ways to build long-term peace is a key question. The cost-effectiveness of peacebuilding is the degree to which the economics benefits arising from greater levels of peacefulness outweigh the monetary costs engendered by peacebuilding expenditure.
The Institute for Economics and Peace (IEP) has built a global model of peacebuilding cost-effectiveness that shows increased funding for peacebuilding would be hugely beneficial, not only to peacebuilding outcomes but in terms of the potential economic returns to the global economy. This webinar will focus on this current research on peacebuilding cost-effectiveness, opening a discussion on the approaches, uses, and future research questions for measuring peacebuilding cost-effectiveness.