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 105: Agriculture, Urbanisation, and Structural Change
Episode 104: The History of the World Economy and Growth
Episode 103: Introduction to Economic Growth and Global Poverty
Episode 102: Photosynthesis Part II
Episode 101: Photosynthesis Part I
Special Episode: History and Future of the Show
Episode 100: Unsolved Problems in Science
Episode 99: Plant Reproduction and Fruit
Episode 98: Electromagnetic Radiation
Episode 97: Plant Structure and Function
Special Episode - Jared Bauer on Science and Philosophy in Movies
Episode 96: How Computers Work Part VI - High Level Programming and Software
Episode 95: How Computers Work Part V - Assembly Language and the Operating System
Episode 94: How Computers Work Part IV - Processor Architecture and Machine Code
Episode 93: How Computers Work Part III - Logic Gates and Components
Episode 92: How Computers Work Part II - Silicon and Transistors
Episode 91: How Computers Work Part I - What is a Computer?
Episode 90: Climate Systems
Episode 89: The Atmosphere
Episode 88: Cartography and Earths Seasons
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