Policy evaluation is not an end in itself, but rather helps convince the public that policy measures taken serve the intended objectives – while minimising negative side effects.
In the area of insolvency legislation, for example, the most promising way forward may be to focus on overcoming specific frictions by agreeing on certain  minimum requirements that serve to selectively improve key aspects of insolvency regimes in order to make them more efficient, such as those that determine cost, speed and transparency.