The European Union, the states of the former Soviet Union and Asia in the 21st century: Competing for Economic Leadership - Economic Development by learning from the long wave of boom

Falk Steuer

Ekonomika a Management, 2011, vol. 2011, issue 4, 5-14

Abstract: This paper enhances the very limited research on the so-called Kondratiev-waves and the importance of those waves also for regions like the European Union and the states of the former Soviet Union. A long wave of boom is also called Kondratiev wave named after the Russian economist Nikolaj D. Kondratiev and it always starts after a basic innovation. On the one hand, basic innovations are an economical process but on the other hand they also cause a restructuring of cross-social connections and its multifaceted structures of work. By understanding the theory of the long waves there is the attempting to estimate or rather optimize future economical developments in the next decades. The target of the research is to declare if the European Union and the states of the former Soviet Union are well prepared for the next long wave and how companies and society in those two regions are prepared in order to utilize it for concrete, realizable economical decisions.

Keywords: Long wave; Economic development; Basic innovations; European Union; Soviet Union (search for similar items in EconPapers)
JEL-codes: E20 L26 (search for similar items in EconPapers)
Date: 2011
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