institutional framework
2.The institutional framework dictates the kind of skills and knowledge perceived to have the maximum payoff.
3.The first is that the institutional framework provides clear, unambiguous, and unidirectional signals and incentives to the relevant entrepreneurs.
4.Path dependence implies that the organizations that evolve as a response to the institutional framework that is being replaced will have tenacious survival ability and will attempt to “sabotage” the institutional transformation taking place.
5.The key to success is the establishment of a viable polity that will support and enforce such institutional constraints and at this stage of our knowledge we know very little about such an institutional framework.
6.Specifically, the Government sees its primary roles as: first, maintaining an institutional framework conducive to market development, including reinforcing the institutional strengths, such as the rule of law, a low and simple tax regime, a level playing field, and a business-friendly environment;
7.Chapter 2 introduces the exchange rate arrangements for the first stage of European integration under Bretton Woods system, which, in general, provided the institutional framework for exchange rate stability.
8.As part of the new institutional framework, the Works Bureau has been appointed as the lead agency within the Government to co-ordinate construction-related matters and to oversee the implementation of the CIRC recommendations.
9.The foundations of the interplay are three: the demography, which describes the quantity and quality of human beings; the stock of knowledge that the society possesses, which determines the human command over nature; and the institutional framework that determines the rules of the game.
10.With several years of actual experience, and as more and more responsibilities are devolved to schools in the use of public funds, the Government considers that the time is ripe to set out a more clearly defined institutional framework for school-based management, and to apply school-based management on a wider scale.
