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According to the linear stages of growth model, a correctly designed massive injection of capital coupled with intervention by the public sector would ultimately lead to industrialization and economic development of a developing nation. [3] The Rostow's stages of growth model is the most well-known example of the linear stages of growth model. [3]
The model de-emphasizes differences between sectors in capitalistic vs. communistic societies, but seems to innately recognize that modernization can be achieved in different ways in different types of economies. The most disabling assumption that Rostow is accused of is trying to fit economic progress into a linear system.
An example of a linear time series model is an autoregressive moving average model.Here the model for values {} in a time series can be written in the form = + + = + =. where again the quantities are random variables representing innovations which are new random effects that appear at a certain time but also affect values of at later times.
Exponential growth is the inverse of logarithmic growth. Not all cases of growth at an always increasing rate are instances of exponential growth. For example the function grows at an ever increasing rate, but is very remote from growing exponentially. For example, when it grows at 3 times its size, but when it grows at 30% of its size.
Growth curve (statistics) Table of height and weight for boys over time. The growth curve model (also known as GMANOVA) is used to analyze data such as this, where multiple observations are made on collections of individuals over time. The growth curve model in statistics is a specific multivariate linear model, also known as GMANOVA ...
A Malthusian growth model, sometimes called a simple exponential growth model, is essentially exponential growth based on the idea of the function being proportional to the speed to which the function grows. The model is named after Thomas Robert Malthus, who wrote An Essay on the Principle of Population (1798), one of the earliest and most ...
Logistic function. A logistic function or logistic curve is a common S-shaped curve (sigmoid curve) with the equation. where. is the carrying capacity, the supremum of the values of the function; is the logistic growth rate, the steepness of the curve; and. is the value of the function's midpoint.
The Gompertz curve or Gompertz function is a type of mathematical model for a time series, named after Benjamin Gompertz (1779–1865). It is a sigmoid function which describes growth as being slowest at the start and end of a given time period. The right-side or future value asymptote of the function is approached much more gradually by the ...