Rostow’s Stages of Growth and Bangladesh: To Which Stage Does Bangladesh Belong?

Abstract

Albeit facing ample challenges as encountered by most developing countries of the world, Bangladesh’s economy has consistently been prepared for take-off. There are quite a number of glairing 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, 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 fast development of the country. This study depicts the different stages of Rostow’s growth model and tries to figure out the current stage of growth of Bangladesh. The study also employs how Bangladesh’s development model and development management model play an important role to spice up the growth sector and the acceleration of the economic uplift of the country.