Which of the Following Statements About Institutional Transitions Is TRUE

Multiple Choice

Which of the following statements about institutional transitions is TRUE?

A) ​Without relational contracting, institutional transitions cannot be made.
B) ​Arm's-length transactions with third-party enforcement are the most effective approach to institutional transitions.
C) ​Institutional transitions are widespread in the world, especially in emerging economies.
D) ​The nature of institutional frameworks is unrelated to strategic decision making during transitions.