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 27: Intermolecular Bonds and Phase Transitions
Episode 26: Human Organ Systems
Episode 25: Organs, Tissues and Systems
Episode 24: Vibrations and Waves
Episode 23: Chemical Reactions
Episode 22: Our Place in the Cosmos
Episode 21: Introduction to Evolution
Episode 20: The Reliability of Memory
Episode 18: Biochemistry Basics
Episode 19: Market Failure
Episode 17: Energy, Work and Momentum
Episode 16: Profits and Competition
Episode 15: Chemical Bonding
Episode 14: Principles of Quantum Mechanics
Episode 13: Newtonian Mechanics
Episode 12: The Price System
Episode 11: The Origin of the Universe
Episode 10: The Cell
Episode 9: Matter and Molecules
Episode 8: The Atom
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