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How can I use Rostow's stage theory to assess Nigeria's level of economic development?
Wiki User
∙ 16y ago
I'm not terribly knowledgeable about conditions in Nigeria, so your mileage may vary from my response. Rostow's theory centers around society being able to save (and invest) efficiently enough to promote economic growth. In other words, the key resource/concept to look at here is capital.
If you're asking this question, I assume that you at least have rudimentary knowledge of the stages, so I won't waste anyone's time typing those out. Basically, answering your question requires you to look at savings and investment levels in Nigeria, (and to some extent, the diversity of the economy there). If the economy is not very diverse and they're not exporting much, it's likely that they will fall into stage two or three of the model. If savings and investment equal roughly 20% of GDP and/or the population doesn't appear to be living on subsistence incomes, they might be toward the latter part of stage three/early part of stage four.
Wiki User
∙ 16y ago
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