Question

why are institutions important? ​

Answer 1

Answer:

State institutions are an economy's primary facilitator of social and economic development. ... Institutions also have an important redistributive role to play in the economy – they make sure that resources are properly allocated, and ensure that the poor or those with fewer economic resources are protected.

Answer 2

State institutions are an economy's primary facilitator of social and economic development. ... Institutions also have an important redistributive role to play in the economy – they make sure that resources are properly allocated, and ensure that the poor or those with fewer economic resources are protected.