The article presents evolution of views on the nature of the cyclical development of global economies, shows the formation and development of the economic cycles theory. Analyzes existing classification of business cycles theories.

The paper discusses the economic cycles of varying duration according to the classification proposed by J. Schumpeter . Provides analyses of theoretical foundations, basic mechanisms, principles, causes of J. Kitchin cycles lasting 3-5 years, C. Juglar cycles lasting 7-11 years, S. Kuznets cycles (rhythms) lasting 15-25 years, N. Kondratieff long waves in the frequency range 45-60 years. Presents essence, nature and mechanisms of cyclic transformations in economic dynamics.

Highlight different classifications of cyclical economic transformations, depending on the severity which is determined by the duration of the recession, the nature of the basic technical and economic processes, handling and the possibility of institutional regulation of cyclical fluctuations. Examines three basic groups of factors that lead to periodic fluctuations in business activity.
Keywords: fluctuations of business activity, cyclic economic transformation, crisis, recession, counter-cyclical policy


1. Bormotov M. Economic cycles: historical evidence, classification and explication / M. Bormotov. – [Electronic resource] – Access mode: http://mpra.ub.uni-muenchen.de/19660/2/MPRA_paper_19660.pdf
2. Burns A Measuring Business Cycles. /Burns A.F., Mitchell W.C. //National Bureau of Economic Research. - New York – 1946- Pр. 369
3. Korotayev A. V. Spectral Analysis of World GDP Dynamics: Kondratieff Waves, Kuznets Swings, Juglar and Kitchin Cycles in Global Economic Development, and the 2008–2009 Economic Crisis / A. V. Korotaev, S. V. Tsirel. – Structure and Dynamics. 2010. Vol.4 (1). – Pp. 57.
4. Kuznets S. Secular Movements in Production and Prices. Their Nature and their Bearing upon Cyclical Fluctuations / S. Kuznets - Boston: Houghton Mifflin, 1930 – Pp. 536.
5. Schumpeter J. A. History of Economic Analysis / J. A. Schumpeter. – London: George Allen & Unwin, 1954. – Pp. 968.
6. Tylecote A. The long wave in the world economy / A. Telecote. – New York: Routledge, 1993. – Pp. 352.
7. Игонина Л.Л. Теории экономических циклов и современные финансовые кризисы/ Л.Л. Игонина// Бюлетень Міжнародного Нобелівського економічного форуму - 2012 - № 1 (5) - Т. 1- С. 200-208.

Upload article :