ABSTRACT
The strength of an economic system can be best seen when the economy is under stress, such as in the case of unforeseen shocks. It is under these circumstances that an effective institutional frame and a policy set are fundamental for giving the economy resilience and effectiveness in maintaining economic equilibrium, guaranteeing the employment of resources and pursuing development. These conditions require that the economy and its management comply with sound economic rules and principles, but also adapt to local features and circumstances, build upon complementarities and foster positive spillovers between the two sets of rules and circumstances.
