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institutional failure

Definition Source References

These are often catalogued as (i) law and policy failures (e.g. perverse subsidies), (ii) market failures (externalities in the use of public goods and services), (iii) organizational failure (e.g. lack of transparency and political legitimacy in decision-making) and (iv) informal institutional failures (e.g. break of collective action norms due to erosion of trust.

Europe and Central Asia assessment, Asia-Pacific assessment IPBES/4/INF/14