The laws of a country are part of the formal institution.
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Q5: Economic systems are examples of formal institutions.
Q6: Force majeure is a method of interpreting
Q7: An institutional framework is made up of
Q8: Civil law uses comprehensive statutes and codes
Q9: Cognitive pillar is the coercive power of
Q11: Firms operating in democracies never confront political
Q12: Transition economies have static institutions.
Q13: The common law tradition is mostly spread
Q14: Theocratic totalitarianism refers to the monopolization of
Q15: The normative pillar supports informal institutions.
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