A Country’s Choice of Institutional Frameworks is Important”
Based on the lecture and Webtext materials, address the following:
- Every country in the world is constructed around the same set of institutional frameworks that differ only in how governments manage them and how involved the government is in the managing those institutions. This can range from complete control over an institution or no involvement whatsoever.
- Identify the specific components of an institution. Next, use two (2) examples of institutions —such as a financial system, a judicial system, or the armed forces — to illustrate what developing countries overall have done to weaken or strengthen such institutions.
Consider the following in crafting your response:
– Is there any correlation between successful or failed countries and the level of government involvement in that country’s institutions?
– What are some of the political, cultural, or economic distinctions between a country’s involvements in its institutions?
– What has the record of history shown to be the most successful institutional frameworks for lifting the most people out of poverty?
– What are some examples of countries that have failed because of their choice of institutional frameworks or countries that have succeeded because of their choices?