Rostows Stages of Growth and Bangladesh: To Which Stage Does Bangladesh Belong?
Soma Dhar*
Abstract
Albeit facing ample challenges as encountered by most developing countries of the world, Bangladeshs economy has consistently been prepared for take-off. There are quite several glaring failures but the commendable successes it has attained throughout the last one and a half-decade in macro-management of the economy have shaped a ground for take-off, which may pave the way for resolving many of the critical development problems such as poverty, illiteracy, unemployment, and low productivity within a foreseeable future. This is not a synthetic arrangement to sterilize pessimism into the expectation of false hope, but rather assist build, in what has already been attained, a foundation for what ought to be done next. It is rather some sort of confidence-building based on some positive modification that has already taken place within the economy. From the five stages growth model of Rostow, the stage ‘take-off has been deliberately chosen to precise an emphatic drive that a developing country needs in setting dynamism in its economy for sustained development. The stipulations for ‘transition and therefore the ground setting required for ‘take-off are planned as prompt and timely actions needed for a desperate nation aspiring for fast development of the country. This study depicts the different stages of Rostows growth model and tries to figure out the current stage of growth in Bangladesh. The study also employs how Bangladeshs development model and development management model play an important role in spicing up the growth sector and accelerating the economic uplift of the country.
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Seventh Five Year Plan (7th Five Year Plan FY2016-FY2021) - General Economic Division (GED) - Planning Commission, Bangladesh.
PhD Student, Department of Economics, University of Chittagong, Bangladesh.
Cite this article
Dhar S. (2021). Rostows stages of growth and Bangladesh: To which stage does Bangladesh belong? Br. J. Arts Humanit., 3(4),74-85.https://doi.org/10.34104/bjah.021074085
