South Korea is an example of a country that has adopted good institutions for promoting economic growth.

Question

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South Korea is often cited as a success story of creating and implementing good institutional frameworks for economic growth. The country has established strong property rights, a stable political environment, and an efficient regulatory system, which has helped attract investments and foster economic development. South Korea's economic achievements over the past few decades, including the rise of Korean conglomerates (chaebols), high-tech industries, and global brands, are largely attributed to its favorable institutional setting.

South Korea Is an Example of a Country That Has