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Business Environment by A. C. Fernando

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17

STAGES AND STRATEGIES OF ECONOMIC GROWTH

In this chapter, we study the stages of growth as developed by economists Karl Marx, W. W. Rostow, Ragnar Nurkse and others. Then we discuss the strategies available to achieve growth. After reading this chapter, you will understand the stages and the times through which countries go through to achieve economic growth and know about the different strategies that are available to realize it.

STAGES OF ECONOMIC GROWTH

Countries achieve economic growth in stages over a period of time. At any point of time, we find that some countries are highly developed; some are in the process of developing while a large number of them remain poor and underdeveloped. One can see that every country—be it developed, ...

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