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Kondratiev Wave

Definition

In economics, Kondratiev waves are hypothesized cycle-like phenomena in the modern world economy.

What is 'Kondratiev Wave'

An economic theory created by Soviet economist Nikolai Kondratiev that states that Western capitalist economies are susceptible to high performance volatility.

Also known as "Kondratiev cycle".

Explaining 'Kondratiev Wave'

Kondratiev called these large performance fluctuations "super-cycles," which last 50-60 years. Kondratiev claimed to have predicted in the 1920s the stock market crash of 1929, also known as Black Thursday. His prediction was based on the market crash of 1870.


Further Reading


Modern trends of financial sector development under the virtual regionalization conditions
fkd.org.ua [PDF]
… development of alternative energy could be considered as the proof of the beginning of Kondratiev's sixth wave … Returning to Kondratiev's waves (see Fig … development trends, including information and nanotechnologies, from the standpoint of the theory of Kondratiev cycles, it …

On the mathematic prediction of economic and social crises: Toward a harmonic interpretation of the Kondratiev WaveOn the mathematic prediction of economic and social crises: Toward a harmonic interpretation of the Kondratiev Wave
mpra.ub.uni-muenchen.de [PDF]
… development of alternative energy could be considered as the proof of the beginning of Kondratiev's sixth wave … Returning to Kondratiev's waves (see Fig … development trends, including information and nanotechnologies, from the standpoint of the theory of Kondratiev cycles, it …

The renewable energies technology surge: A new techno-economic paradigm in the making?The renewable energies technology surge: A new techno-economic paradigm in the making?
www.sciencedirect.com [PDF]
… development of alternative energy could be considered as the proof of the beginning of Kondratiev's sixth wave … Returning to Kondratiev's waves (see Fig … development trends, including information and nanotechnologies, from the standpoint of the theory of Kondratiev cycles, it …

Technological innovation and long wavesTechnological innovation and long waves
www.jstor.org [PDF]
… development of alternative energy could be considered as the proof of the beginning of Kondratiev's sixth wave … Returning to Kondratiev's waves (see Fig … development trends, including information and nanotechnologies, from the standpoint of the theory of Kondratiev cycles, it …



Q&A About Kondratiev Wave


How long do super-cycles last according to him?

5-6 years.

What does he call these large performance fluctuations?

Super-cycles

When did he create this economic theory?

In the 192s.

Who was the creator of this economic theory?

Soviet economist Nikolai Kondratiev.

Who predicted the stock market crash of 1929, also known as Black Thursday, according to him ?

He claimed to have predicted it in the 192s

What does the theory claim about Western capitalist economies?

The theory claims that these economies are susceptible to high performance volatility.

Why did he predict it ?

Based on a stock market crash in 187 .

What is Kondratiev Wave?

A theory created by Soviet economist Nikolai Kondratiev that states Western capitalist economies are susceptible to high performance volatility.

What were his predictions based on?

His prediction was based on a stock market crash in 187.