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Today, the world faces significant and complex challenges (economic, social, political, and environmental); the pandemic has further exacerbated these challenges and widened already-existing inequalities. Kate Raworth’s doughnut economy framework provides an alternate lens for considering economic development processes and local, national, and international policies. In this article, I discuss the doughnut economy framework from an institutionalist perspective. Given the global nature of the model, several challenges stand in the way of operationalizing it. After highlighting various pathways for putting the framework into action, I discuss risks and opportunities facing such approaches, along with broader institutional changes needed.

Operationalizing the Doughnut Economy: An Institutional Perspective