Is there a verb for "created", but for policies? I am not sure, but "created" doesn't sound right when used with policies, so I thought of "came up", but it's too informal, so I am not sure if there's a proper verb for it.
For example:
The economic policy was ___ by the current chief economist of the World Bank.
Written sounds off too, because I want to say "created, imagined", but all these verbs also seems to be inappropriate with the word "policy".