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How Do Institutions Affect Innovation And Technological Change? In this informative video, we will explore the critical role that institutions play in shaping innovation and technological change. Institutions, both formal and informal, set the framework for how ideas and technologies develop within a society. We will discuss how inclusive institutions create an environment that promotes innovation by providing access to resources, safeguarding property rights, and ensuring a stable legal framework. Conversely, we will examine how extractive institutions can stifle creativity and limit access to opportunities, ultimately hindering progress.

We will also look at how institutions influence the types of technologies that emerge and who benefits from them. By analyzing concepts like the innovation possibilities frontier, we will illustrate how strong institutions can expand technological potential, while weak institutions may restrict it. Historical examples will demonstrate the impact of institutional reform on innovation rates, emphasizing the need for transparency and inclusivity in economic systems.

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