Economic Development in Russia and the Long Waves of World Economy

Abstract

Long-term cycles in world economic development are analyzed through the view on Russia's economy in the XIX century. Several economic indicators and industries are observed. It is found that Russia joined long economic fluctuations gradually. The first signs of this involvement are noticeable since 1840-50s (an upswing of the 2nd world long economic wave) in more developed industries, like the textile industry, for example. The whole Russia's economy has got involved into the world economic flux on the upswing of the 3rd world long economic wave in the 1890s.

Keywords: Long waves, econonomic development, Russia, Kondratieff

JEL Classification: F02, N10, N13, O11, O57