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 71: Political Ideologies
Episode 70: Animal Diversity Part 2
Episode 69: Animal Diversity Part 1
Episode 68: Protein Structure and Function
Episode 67: An Overview of Language Part 2
Episode 66: An Overview of Language Part 1
Episode 65: Money, Inflation, and Interest Rates
Episode 64: Knowledge Representation
Episode 63: The Nervous System
Episode 62: Organic Chemistry Demystified
Episode 61: Magnetism
Episode 60: Memory Encoding and Recall
Episode 59: Smell
Episode 58: Taste
Episode 57: Electric Current and Circuits
Episode 56: The Gains from Trade
Episode 55: Sex and Gender Part 2
Episode 54: Sex and Gender Part 1
Episode 53: Sound and Music
Episode 52: Applications of Optics
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