Keppel Ltd. 1Q 2024 Business Update Presentation Slides
Rostow’s view on economic development
1.
2. Based on his book “Stages of economic
growth”
Uses a historical approach
3.
4. Under developed economy
Limited growth in science & technology
(Pre-Newtonian era)
Limited production functions
Excessive dependence on agriculture
Political power
Usage of income
Slow economic growth
Series of changes
5. Transition stage
New renaissance age
Spread of education & knowledge
Modern science
Investment & risk- taking
Economy at snail’s pace
Development of people’s qualities
Discoveries & inventions
Division of society
Transportation,agriculture & imports
6. Overcoming of the obstacles
Increase in investment and per capita output
Growth of manufacturing sectors
Development in political, social &
institutional framework
7. Result of the take-off stage
More amount of goods are produced
Self-generating economy
Technological & entrepreneurial skills
Old and new industries
8. Shift in the attention of the society
Country’s aspirations
- Longs for external power &
influence
- Welfare measures
- Consumption
- Per capita income
- Automobiles & durable goods
9. It de-emphasises any difference between
how leading sectors develop in free and
controlled markets.
It is accused of trying to fit economic
progress into a linear system
It considers mostly large countries.