"I would suggest that the rate at which countries grow is substantially determined by three things: their ability to integrate with the global economy through trade and investment; their capacity to maintain sustainable government finances and sound money; and their ability to put in place an institutional environment in which contracts can be enforced and property rights can be established. I would challenge anyone to identify a country that has done all three of these things and has not grown at a substantial rate." - Larry Summers (2003)
It was on top of the agenda of a conference organised jointly by the IMF and Arab Monetary Fund- Institutions and Economic Growth in the Arab Countries
For a critique see; Rethinking Growth Strategies by Dani Rodrik
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