Topic

Why Institutions Matter for Development

Instructions

What are institutions? Explain why and how they matter for development. Select and develop a critical argument, using at least two specific examples of how institutions affect development.

Answer Preview

An institution may be defined differently based on the context, but the general definition describes an organization, society, or entity that is formed for educational, social, religious, political, governance or related purposes. Institutions have specific agendas, which they advocate (Hodgson, 2006, p. 1-3). For example, government institutions have specific mandates, which they are required to accomplish as per the laws or regulations establishing the mandates.

Word Count: 1000