updated 9 months ago

Differentiate Rostow and Harrod-Domar Growth Models?

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1 Answer
updated 10 months ago

Both models emphasize a capital output ratio as a determining indicator of economic growth. But I don’t really understand how they differ except that Rostow built a particular 6-stages scheme of a gradual economic development that includes

  • Traditional society
  • Transitive stage before a take-off
  • Take-off itself
  • Stage of maturity
  • Age of high mass consumption
  • The search for greater quality of life.

I’ve run into a paper that seems to consider economic growth models and maybe you’ll find in it something on your question. Look up here


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