In light of the disappointing results of market reforms, which of the following does mainstream economics now consider to be a key variable for successful economic growth?
A) Trade
B) Currency speculation
C) Foreign direct investment
D) Religion
E) Institutions

Question

Quizplus · Accepted Answer

Mainstream economics now considers institutions to be a key variable for successful economic growth. This perspective has emerged from the recognition that effective institutions, such as legal systems, property rights, and regulatory frameworks, play a crucial role in facilitating economic transactions, protecting investments, and encouraging innovation and entrepreneurship.

In Light of the Disappointing Results of Market Reforms, Which