By W.W. (Editor) Rostow
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Additional resources for The Economics of Take-Off into Sustained Growth: Proceedings of a Conference held by the International Economic Association
44): 'At any period of time it appears to be true even in a mature and growing economy that forward momentum is maintained as the result of rapid expansion in a limited number of primary sectors, whose expansion has significant external economy and other secondary effects. From this perspective the behaviour of sectors during the take-off is merely a special version of the growth process in general; or, put another way, growth proceeds by repeating endlessly, in different patterns, with different leading sectors, the experience of the take-off.
For if these differences are recognized, and the cumulative character of growth is taken as a matter of definition, it is all too easy to suggest 'stages'. Since modern economic growth presumably has roots in the past, a non-modern economy stage and a stage of preparation are clearly suggested : and we can easily divide the latter into several 'phases'- initial preparatory phase; middle preparatory phase ; final preparatory phase. Then, since, again by definition, modern economic growth is not attained in a few years, we can discuss the early or emergence period, the middle stage, maturity (biological analogy), post-maturity, and so on.
Thus far, working with historical data, I have sought to use the full range of quantitative and non-quantitative materials available to form an approximate judgment as to when the rate and scale of a leading sector's growth has been such as to induce substantial further expansion in the economy, also of high momentum, via its backward and lateral linkages. The take-off dates I have tentatively 1 Where a radically new production function is introduced into an existing industry - as in the case of the cotton industry of the eighteenth century - a phase of increasing rate of increase may occur, before retardation sets in.
The Economics of Take-Off into Sustained Growth: Proceedings of a Conference held by the International Economic Association by W.W. (Editor) Rostow