4. Institutions, policies, and economic growth Suppose it is the year 2525, and

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4. Institutions, policies, and economic growth

Suppose it is the year 2525, and you are considering emigrating from your home country.

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4. Institutions, policies, and economic growth Suppose it is the year 2525, and you are considering emigrating from your home country. The fictional country of Blaxon has the same policies and institutions as your home country except, that it has more stringent regulations on businesses. Also, your home country has a stronger and more effective education system than Blaxon. If you based your decision to emigrate solely on the prospects for economic growth, you would remain in your home country After you make your decision, the easternmost province of Blaxon secedes from the rest of the country to form East Blaxon. East Blaxon plans to retain all the policies and institutions of Blaxon except that East Blaxon will have less certainty in the rule of law. Again, if you based your decision to emigrate solely on prospects for economic growth, East Blaxon would be a emigration destination than Blaxon. attractive

Explanation / Answer

1. Remain in your country.A good education system and less stringent laws and rules will lead to economic growth in the country and thus one will decide to remain the country.

2. Less. The rule of law in the country needs to be strengthened for better economic prospects.

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