institutionsdiffer
Institutions differ is a principle in social science that the rules and conventions governing social, political, and economic life vary across countries, regions, and historical periods. In institutional economics and related fields, institutions are the formal rules (laws, constitutions, property rights, regulatory codes) and informal norms (trust, conventions, beliefs) that shape human interaction. The idea emphasizes that differences in institutional design and enforcement create different incentives, costs of transacting, and pathways of development.
Differences arise from historical path dependence, political structures, culture, and economic development. Consequences include variation in
Implications for policy and reform include focusing on strengthening formal institutions where they are weak, aligning