1. Rostow’s Development Model
Basic Summary
Rostow’s Development Model

2. International Trade Model of Development
The international trade model of development calls for a country to identify its distinctive or unique economic assets. What animal, vegetable, or mineral resources does the country have in abundance that other countries are willing to buy? What product can a country manufacture and distribute at a higher quality and a lower cost than other countries.

3. According to the international trade approach, a country can develop economically by concentrating scarce resources on expansion of its distinctive local industries. The sale of these products in the world market brings funds into the country that can be used to finance other development.

4. Rostow’s Development Model
A pioneering advocate of this approach was W.W. Rostow, who in the 1950’s proposed a five-stage model of development. Several countries adopted this approach during the 1960’s, although most continued to follow the self-sufficiency approach.

5. Stages The traditional society The preconditions for takeoff
The takeoff
The drive to maturity
The age of mass consumption

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