1. The set of basic institutions and rules that establish the context for economic, political, and social activity
The institutional framework of the country includes the constitution, laws, and regulatory agencies.
O marco institucional do país inclui a constituição, leis e agências regulatórias.
2. The organizational structure and formal rules governing how institutions function and interact
A strong institutional framework is essential for sustainable development.
Um marco institucional sólido é essencial para o desenvolvimento sustentável.