The challenge of measuring informal institutions has become an opportunity

Key Points

• This analysis focuses on the difficulties in quantifying informal institutions and explores the potential benefits that arise from these challenges.
• Literature review of existing frameworks for measuring informal institutions
• Assessment of previously reported challenges
• Exploration of innovative methodologies for quantification
• Identification of key challenges in measurement approaches
• Suggestions for overcoming these challenges to enhance understanding
• Emergence of new assessment methods that capitalize on existing challenges