This paper provides an overview of the special issue on “Water policy, productivity and economic efficiency”. In particular, it includes an overview of key topics on the future of water as a productive factor, in the context of alternative uses and perspective scenarios. The selected papers cover a wide range of relevant economic issues and are presented in three categories: productivity assessment, institutional framework and mechanisms, and governance aspects. The paper concludes by discussing future research challenges in this field. (This article belongs to the Special Issue Water Policy, Productivity and Economic Efficiency)