MODELS OF DEVELOPMENTLECTURE 1.2MODELS OF DEVELOPMENTMODELS OF DEVELOPMENTHow do countries deveo!"#$ we c%n underst%nd &ow deveo!'ent occurs( str%te)ies c%n *e %do!ted to &e! countries to deveo!Nu'*er o$ %!!ro%c&es+ ROSTO, - ST./ES OF /RO,THROSTO, - ST./ES OF /RO,THT&e wor0 o$ .'eric%n ,%t ,. RostowRostow is %n econo'ic &istori%nCountries c%n *e !%ced in one o$ 1ve c%te)ories in ter's o$ its st%)e o$ )rowt&+A child in Sierra Leone making breakfast. Which stage would a country like Sierra Leone fit in?Copyright: Dae Dyett! http:""www.s#c.hu"ROSTO, - ST./ES OF /RO,TH1. Tr%dition% Societ2C&%r%cterised *2su*sistence econo'2 3 out!ut not tr%ded or recorded e4istence o$ *%rter &i)& eves o$ %)ricuture %nd %*our intensive %)ricuture$illage in Lesotho. %&' of the resident workforce in Lesotho is engaged in subsistence agriculture.Copyright: (racy Wade! http:""www.s#c.hu"ROSTO, - ST./ES OF /RO,TH2. Pre-conditions+Deveo!'ent o$ 'inin) industries#ncre%se in c%!it% use in %)ricutureNecessit2 o$ e4tern% $undin)So'e )rowt& in s%vin)s %nd invest'ent(he use of some capital e)uipment can help increase productiity and generate small surpluses which can be traded.Copyright: (im * Annette! http:""www.s#c.huROSTO, - ST./ES OF /RO,TH5. T%0e o6+#ncre%sin) industri%is%tionFurt&er )rowt& in s%vin)s %nd invest'entSo'e re)ion% )rowt&Nu'*er e'!o2ed in %)ricuture decinesAt this stage! industrial growth may be linked to primary industries. (he leel of technology re)uired will be low.Copyright: +amon $enne! http:""www.s#c.huROSTO, - ST./ES OF /RO,TH7. Drive to M%turit2+/rowt& *eco'es se$-sust%inin) 3 we%t& )ener%tion en%*es $urt&er invest'ent in v%ue %ddin) industr2 %nd deveo!'ent#ndustr2 'ore diversi1ed#ncre%se in eves o$ tec&noo)2 utiisedAs the economy matures! technology plays an increasing role in deeloping high alue added products.Copyright: ,oao de -reitas! http:""www.s#c.huROSTO, - ST./ES OF /RO,TH8. Hi)& '%ss consu'!tionHi)& out!ut evesM%ss consu'!tion o$ consu'er dur%*esHi)& !ro!ortion o$ e'!o2'ent in service sectorSerice industry dominates the economy . banking! insurance! finance! marketing! entertainment! leisure and so on. Copyright: /lliott (ompkins! http:""www.s#c.huCR#T#C#SMS+Too si'!isticNecessit2 o$ % 1n%nci% in$r%structure to c&%nne %n2 s%vin)s t&%t %re '%de into invest'ent,i suc& invest'ent 2ied )rowt&" Not necess%ri2Need $or ot&er in$r%structure 3 &u'%n resources 9educ%tion:( ro%ds( r%i( co''unic%tions networ0sE;cienc2 o$ use o$ invest'ent 3 in !%%ces or !roductive %ctivities"Rostow %r)ued econo'ies woud e%rn $ro' one %not&er %nd reduce t&e ti'e t%0en to deveo! 3 &%s t&is &%!!ened"M.R