Revitalizing development policy: a mission-oriented strategy for sustainable finance and regional synergy

This study aims to examine the evolving role of the state in development policy and finance in the context of today’s rapidly changing, innovation-driven economy. It explores Mariana Mazzucato’s mission-oriented policy framework, which emphasizes the state’s active role in fostering sustainable development. The study concludes by proposing a financial system that effectively supports sustainable development goals, involving public development finance institutions and a blended finance system that integrates public resources with private investment. Additionally, Mazzucato’s framework calls for regional development finance institutions to coordinate territorial development initiatives, ensuring alignment with regional strategic priorities.