The paper presents the definition of quality of life and its relationship with sustainable development. The paper analyses and compares the indicators of quality of life in Lithuania with other countries. A quality of life is an explicit or implicit policy goal. Various measurements and indicators to evaluate a quality of life were proposed during the recent years however there are no widely accepted objective indicators of quality of life able to compare countries. Sustainable development concept proposes new approach to measure quality of life. Therefore the aim of sustainable development is to increase quality of life. Quality of life can be addressed in terms of people health, the state of economy, employment, infrastructure development, crime and environment. All these indicators are interrelated as economic development creates preconditions to maintain public health, develop social and technical infrastructure, to increase employment, to ensure quality of environment, to tackle with crime etc. From the other point of view healthy and satisfied with the quality of life nation have positive impact on stable economic growth.

One of the most important characteristics of the economy is cyclicality -a periodic, regular short and long-term economic fluctuations. Cycle of economic growth -the sequential rise and fall variations of the main macroeconomic indicators, conditioned in appreciable activity changes in many types of economic activities. In the economic theory there are distinguished four stages of the economic growth cycle, passing one after the other -the peak, recession, crisis and boom differ from one another in the length of time, intensity, various macro-economic factors' impact to the economy and therefore never alike and regularly recurring. One of the newest approaches in economic growth theory, which deals with the limitations of economic growth and its causes -the logistic capital management theory created by Prof. S. Girdzijauskas (2006), which is based on the capital niche's, as the capital's growth space, concept of finality. The authors of the theory applied the definition of the classical "bubble" to the growth cycle and confirmed that in the cyclical economical fluctuations in some cases, forms a bubble effect whereas applying and introducing to it a fundamentally based output rate it is obtained an economic bubble phenomenon. The article deals with the theoretical aspects of logistic capital theory and the economic growth cycle. Purpose of the article -to review and compare the theoretical aspects and relationship between the logistic capital management theory and the economic growth cycle. Logistic capital management theory -is one of the newest approaches in the context of the economic activity's cyclical phenomena. In practice, this theory and suggested marginal capital growth models are not used for examining the economic growth cycle and the economic dynamics processes, an important point is that the logistic capital management theory and the new viewpoint of the authors -limited capital growth, clearly demonstrates that the capital as the country's GNP growth cannot be infinite and sooner or later it ends.

The article analyses one of the most recent theories of economic growth prof. Girdzijauskas (2002, 2006, 2008, 2009, 2010) created logistic growth theory, whose main idea is based on market saturation and the concept of limitation. The essential claims of the theory are being tried to adjust analysing the economic growth cycle of Lithuania in 1995–2009 period. Performed logistic analysis of Lithuania's GDP (Loglet Lab2), macro–economic indicators’ and factors’ affecting them correlation regression analysis (SPSS15,0). The article concludes of the presentation of the created economic growth cycles and the bubble formation mechanism combining hypothetical Lithuanian economic growth cycle assessment model. Santrauka Straipsnyje analizuojama viena iš naujausių ekonominio augimo teorijų – prof. S. Girdzijausko (2006, 2008) sukurta logistine kapitalo augimo teorija, kurios pagrindine idėja remiasi rinkos prisisotinimo ir ribotumo sąvokomis. Teorijos esminius teiginius siekiama pritaikyti, vertinant Lietuvos ekonominio augimo ciklą 1995–2009 metų laikotarpiu. Atliekama Lietuvos BVP logistinė analizė (LogletLab2), makroekonominių rodiklių bei jiems įtaką darančių veiksnių koreliacinė regresinė analizė (SPSS 15,0). Straipsnio pabaigoje pateikimas sukurtas ekonominio augimo ciklus ir burbulo susiformavimo mechanizmą apjungiantis hipotetinis Lietuvos ekonominio augimo ciklo vertinimo modelis.