In this fifth part of our series on economic growth and development, I examine the major factors that have been advanced as explaining differences in growth outcomes between countries. I provide a summary of the arguments and evidence for and against the importance of culture, dependency, democracy, geography, education, and institutions in accounting for differential growth outcomes, and conclude with a comparative empirical analysis in which I argue that institutional differences explain the majority of growth differences. The Recommended pre-listening is Episode 106: Economic Growth and Development Part IV.

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