Institutions play a crucial role in regulatory frameworks from "summary" of The Economics of Regulation: Principles and Institutions: Economic principles by Alfred Edward Kahn
Regulatory frameworks are essential for ensuring that markets operate efficiently and fairly. However, these frameworks cannot function effectively without the presence of institutions that enforce and uphold the regulations. Institutions play a crucial role in shaping the regulatory environment by setting the rules of the game and ensuring compliance. Institutions serve as the backbone of regulatory frameworks, providing stability and consistency in the enforcement of rules and regulations. They act as the enforcers of regulations, monitoring market activities and punishing those who violate the rules. Without strong institutions, regulatory frameworks would be ineffective and unable to achieve their intended goals. Moreover, institutions also play a crucial role i...
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