In this sixth and final part in our series on economic growth and development, I discuss in more detail some of the key institutions necessary for economic growth to begin, focusing on property rights, enforcement of contracts, and control of corruption. I review the importance of these institutions in the context of historical case studies of countries ranging from the Soviet Union to Mexico, and outline how the most critical institutions vary with the level of development, giving rise to a middle income trap. I also discuss the Washington Consensus and critically analyse the arguments of critics that such institutional reform is not essential for growth. I conclude with a summary of all we have learned and discussed throughout the growth series. The recommended pre-listening is Episode 107: Economic Growth and Development Part V.
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Episode 143: Climate Modelling
Episode 142: The Greenhouse Effect
Episode 141: Natural Climate Change
Episode 140: A History of Earth's Climate
Special Episode: Dinosaurs in Popular Culture
Episode 139: Cybersecurity and Cryptocurrencies
Episode 138: Biochemistry and Metabolism
Episode 137: The Digestive System
Episode 136: Introduction to General Relativity
Episode 135: The Science of Emotion
Episode 134: Hormones and the Endocrine System
Episode 133: Motor Control
Special Episode: Evolution and Genetics
Episode 132: The Muscular System
Special Episode: Language in Brains and Machines
Episode 131: Sleep Science
Episode 130: Transition Metal Chemistry
Episode 129: Glaciers, Ice, and Groundwater
Episode 128: Wind, Deserts, and Coasts
Episode 127: Weathering, Erosion, and Rivers
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