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As a social rule, institution can coordinate social economic relations and reduce transaction cost in social economic activities. Institution quality refers to the general name of institution's quality and degree. A good institution can promote the all-round development of economy, society and people, whereas a bad one curbs social development and realization of justice. Most developing countries don't lack corresponding institutions, but quality systems. With the current development pattern of the world economy, the competition among countries is not only manifested in the hardware environment such as economy scale, but also gradually turned to soft power like institution quality. For China, as the most competitive developing country, issues such as how to compete with developed countries in terms of institution, remedying deficiency in its own institution quality, reducing the gap with developed countries, creating its own institution advantage, and promoting sustainable economic and social development have far-reaching practical significance.

Research on Institution Quality Analysis, Evaluation and Improvement Strategies