| 单词 | theory of institutional deficiencies |
| 释义 | theory of institutional deficiencies theory of institutional deficiencies(TIDE) A theory of social and business organization, developed by Maris Martinsons from 1997, which suggests that in countries without effective law-governed institutions, business will tend to be carried on through informal and potentially corrupt relationships rather than through rule-based markets. This can be a major obstacle to growth, and in particular it may inhibit the transition from the physical to the electronic marketplace, as buyers and sellers are reluctant to give up their direct personal connections. |
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