Kondratieff wave

Noun

Kondratiev wave (plural Kondratiev waves)

1. 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.
   • 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...1992, Jyotiprasad Medhi, Statistical Methods: An Introductory Text, New Age International, →ISBN, page 335

   Synonyms:

   K-wave, supercycle