The Finnish Economy Through the Prism of the Theory of Long Waves

Abstract

The article presents the research results of Kondratieff cycles in the economy of Finland on the basis of real GDP per capita over the period of 1860–2008 years. The using of economic and mathematical modeling has allowed estimating the power of long duration business cycles, revealing the chronological framework of long waves: the third, fourth and fifth. Kondratieff’s theory has served as a methodological basis for the study of processes: the emergence, the domination and the withering away of technological structures. Regression analysis has allowed establishing the productivity of different technological structures in the Finnish economy.