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2/5/06

Vanguard -Why nations are poor, by Pat Utomi: Profiles in poverty and imperative of action

Vanguard

Why nations are poor, by Pat Utomi: Profiles in poverty and imperative of action

Rules related to modern economic transactions have not become settled habits in many transition economies because these rules are often new and alien as most new economic practices are imported as part of the race for modernity. Since these new ways hardly build on traditional habits for similar activities, the tendency is for defection from these new norms in places where the capacity of the new institutions for enforcement of the new rules is quite low.

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