Kondratieff (K-) Waves in the Modern World System

Modelski George

Macroeconomics from Socionet

Abstract: Contemporary Kondratieff wave studies show two tendencies: one, a macroeconomic analysis that maps long trends of prosperity and depression with GDP data, but second, a sectoral approach that traces the influence of K-waves of basic innovations, and the rise of a succession of leading industrial and/or commercial sectors on the emergence of a global economy. What is more, K-waves are a not stand-alone feature of the modern world system but one in a cascade of processes that have shaped its emergence. They stand in a close relationship with world politics, democratization, and globalization. An interesting question yet to be answered concerns the character of the next, K20, wave.

Keywords: Kondratieff wave; GDP data; global economy; trends of prosperity (search for similar items in EconPapers)
JEL-codes: E N1 O1 (search for similar items in EconPapers)
Pages: 12
Date: 2013-02-28
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Persistent link: https://EconPapers.repec.org/RePEc:nos:wuwpma:emanova_elena.12760-kwavesworldsyst

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