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Give me an answer about institutional assesment in terms of economic forces (in your own words)

Sagot :

Topherosello93idn

Answer:

Institutional quality is a broad concept that captures law, individual rights and high quality government regulation and services

Institutional quality and economic development reinforce each other over the longer term, but we argue that institutional quality leads this virtuous circle

Importantly, institutional development unlocks growth potential and does not intrinsically suffer from diminishing returns

Data show that countries with high institutional quality have been more successful in adopting frontier technology and productivity since the turn of the millennium

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