Rostovian take-off model
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The Rostovian take-off model is one of the major historical models of economic growth. It was developed by W.W. Rostow. The model postulates that economic modernization occurs in five basic stages, of varying length.
- Traditional society
- Preconditions for take-off
- Take-off
- Drive to maturity
- High mass consumption
Rostow set out a number of conditions that were likely to occur in investment, consumption and social trends at each state. Not all of the conditions were certain to occur at each stage, and the stages and transitions periods may occur at varying lengths from country to country, and even from region to region.
Rostow's model is one of the more structuralist models of economic growth, particularly in comparison with the 'backwardness' model developed by Alexander Gerschenkron. The two models are not necessarily mutually exclusive, however, and many countries seem to follow both models rather adequately.