Give characteristics of an economy  at drive to maturity stage of economic development

Answer

Drive to maturity is the fourth stage in the stages of development and is characterized by

• Rate of saving and investment is as high as over 10 -20% of national income
• Modern production techniques replace old ones leading to production of high quality goods.
• Economy grows and diversifies.
• Technological advancement
• High level of infrastructural development
• There is considerable decrease in growth rate
• Emergency of highly skilled industrial labour force
• Heavy industrialization taking place in the economy