institutional framework
Noun
Meaning
institutional framework (plural institutional frameworks)
The systems of formal laws, regulations, and procedures, and informal conventions, customs, and norms, that shape socioeconomic activity and behaviour.
Examples
When theology erodes and organization crumbles, when the institutional framework of religion begins to break up, the search for a direct experience which people can feel to be religious facilitates the rise of cults.
And judging what is appropriate or not appropriate for a country, I think it is important in particular in judging what is the appropriate economic policy framework, one should take into account the overall political environment and the institutional framework within which economic policy operates.
The reality is that the institutional framework in which Wall Street operates is fundamentally inappropriate, and it inevitably generates violent fluctuations of the market.
Greece has great strengths, but much of this potential has been wasted. That's because of a wider political system, but also because of a lack of an institutional framework.