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Walt Rostow's Modernization Model (Stage 3: Takeoff (Industrialization…
Walt Rostow's Modernization Model
Stage 3: Takeoff
Industrialization
Growing investment
Regional growth
Stage 3 on DTM
Political change
Semi-peripheral state
Stage 5: High Mass Consumption
Consumer oriented
Durable goods flourish
Dominant service sector
Core state
Stage 4-5 on DTM
Stage 4: Drive to Maturity
Diversification
Innovation
Less reliance on imports
Investments
Stage 3 on DTM
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Semi-peripheral state
Stage 1: Traditional
Barter
Agriculture
Stage 1 on DTM
Subsistence
Peripheral state
Stage 2: Preconditions of Takeoff
Specialization
Surpluses
Infrastructure
Stage 2 on DTM
Peripheral state