I use the term innovation deliberately, as there is an apt analogy here with technological innovation. Just as we think of technological ideas as those that relax resource constraints, we can think of political ideas as those that relax political constraints, enabling those in power to make themselves (and possibly the rest of society) better off without necessarily undermining their political power. Economists recognize the importance of technological innovation and have made it the centerpiece of their models of long-term growth. In political-economy models, by contrast, the working assumption is that there is no room for discovery. Many political innovations are likely to remain ephemeral, inconsequential, or soon forgotten. But some, as with general-purpose technology, may prove substantial and durable. Think of political parties, independence of judiciary, or indeed democracy.

Конечно, "policy innovations" и "political innovations", строго говоря, не совсем синонимы, но вот, например, в этом отрывке они, похоже, обозначают одно и то же. Ввести разные варианты перевода того и другого выражения в русский текст можно, но нужно ли? Интересно узнать мнения на сей счет.