“Institutions” Please respond to the following:
- 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 different governments manage them.
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. Provide country-specific examples.
Finally, define extractive institutions and analyze the role these institutions play in the developing countries. Provide country-specific examples of extractive institutions