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 87: The Geography of Planet Earth
Episode 86: The Evidence for Evolution
Episode 85: Introduction to Quantum Field Theory
Episode 84: Advanced Quantum Mechanics Part II
Episode 83: Advanced Quantum Mechanics Part I
Episode 82: Racial Differences in Intelligence
Episode 81: Intelligence Part 2
Episode 80: Intelligence Part 1
Episode 79: Basic Concepts in Statistics
Episode 78: Hearing
Episode 77: Nuclear Physics and Radioactivity
Episode 76: GDP and Unemployment
Episode 75: Cellular Respiration
Episode 74: Minerals and Rocks
Episode 73: Introduction to the Immune System Part 2
Episode 72: Introduction to the Immune System Part 1
Episode 71: Political Ideologies
Episode 70: Animal Diversity Part 2
Episode 69: Animal Diversity Part 1
Episode 68: Protein Structure and Function
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