Kondratiev wave

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English

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Alternative forms

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Etymology

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Named after Soviet economist Nikolai Kondratiev (1892–1938), who was the first to bring the idea to international attention in his book The Major Economic Cycles (1925).

Noun

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Kondratiev wave (plural Kondratiev waves)

  1. (economics) A hypothesized cycle-like phenomenon in the modern world economy, said to range from 40 to 60 years and to consist of alternating intervals of high sectoral growth and relatively slow growth.
    • 1992, Jyotiprasad Medhi, Statistical Methods: An Introductory Text, New Age International, →ISBN, page 335:
      Each such wave, known as Kondratiev Wave, has all the four characteristics of a business cycle. It rises on the back of new technologies and new forms of enterprise; the expansion leads to a peak, then topples over into a crash and reaches the trough. [] The first Kondratiev wave of the Industrial revolution rode on the technologies of the cotton and wrought-iron industries; []

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