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Kondratieff (K-) Waves in the Modern World System

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  • Modelski George

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.

Suggested Citation

  • Modelski George, 2013. "Kondratieff (K-) Waves in the Modern World System," Macroeconomics emanova_elena.12760-kwave, Socionet.
  • Handle: RePEc:nos:wuwpma:emanova_elena.12760-kwavesworldsyst
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    File URL: http://www.sociostudies.org/almanac/articles/kondratieff_k_waves_in_the_modern_world_system/
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    1. Hicks, J. R., 1969. "A Theory of Economic History," OUP Catalogue, Oxford University Press, number 9780198811633.
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    Keywords

    Kondratieff wave; GDP data; global economy; trends of prosperity;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • E - Macroeconomics and Monetary Economics

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