1. A formal structure or system of rules, norms, and procedures established by an organization or society to organize and regulate activities and relationships
The institutional arrangement between the government and private sector promotes transparency and accountability.
O arranjo institucional entre o governo e o setor privado promove transparência e responsabilidade.
2. In economics and political science, the framework of formal and informal rules that shape economic and political interactions
Effective institutional arrangements are crucial for economic development and social stability.
Arranjos institucionais eficazes são cruciais para o desenvolvimento econômico e a estabilidade social.