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This article analyses the institutional conditions required to support a strategic state in being responsive to the changing demands of a market-economy, whilst maintaining a credible commitment to long-term policy goals. This article identifies a key pillar of a market economy that we believe is crucial to promoting inclusive economic growth; we term these institutions market-engaging institutions. We propose that market-engaging institutions may form a bridge between the flexibility required by a dynamic market economy and the stability demanded by the rule of law. We define market-engaging institutions as those institutions that facilitate greater political participation for marginalized groups, manage technological disruptions, and support human capital formation. Examples inclu... |
