THE STAGES OF ECONOMIC DEVELOPMENT FROM AN OPPORTUNITY PERSPECTIVE: ROSTOW EXTENDED

ABSTRACT. This paper extends Rostow’s stages of economic growth model from the perspective of entrepreneurial opportunity. The paper outlines the characteristics of traditional, underdeveloped, developing, development, and post industrial economies. The author postulates that the stage of economic growth is a very important determinant upon the types of entrepreneurial opportunities available. Finally, the author also postulates that economic growth is not a linear process, citing the examples of Malaysia and Thailand. pp. 52–80

Keywords: Rostow, economic development, growth, development, entrepreneurial opportunity, society