Institutions for Development

Institutions for development are systems and rules, like governments, legal frameworks, and organizations, that shape how resources are used, decisions are made, and economic activities occur within a society. They provide the structure that supports stability, fairness, and growth by establishing clear laws, property rights, and incentives. Strong institutions help reduce corruption, encourage investment, and promote social well-being, thereby fostering sustainable development. In essence, they are the foundational frameworks that enable countries to function effectively and improve the living standards of their people.