There are important lessons to learn from this approach including that development policy is country-specific, may involve just a few reforms that can be optimally sequenced to relax binding constraints, and it may lead to large positive welfare impacts. However, finding the binding constraints requires careful thinking. Some of the criticisms of this approach emphasize that it is (i) in practice impossible to estimate shadow prices; (ii) very difficult to reject constraints as not binding; and that (iii) the analysis is focused on the short term, and therefore ignores factors important to sustainable growth such as human capital accumulation.