Why does Dani Rodrik emphasize institutional diversity?
I emphasize institutional diversity because economic growth and development are not driven by a single, universal set of policies. Different countries, with their unique histories, cultures, and political systems, require different institutional arrangements. My work in 'One Economics, Many Recipes' argues that effective development strategies are context-specific. Trying to impose a uniform institutional framework, often derived from successful Western models, can be counterproductive. Understanding and adapting to local conditions is crucial for policy success.
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