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From gold field discoveries to institutional sclerosis
Author(s) -
GLISMANN Hans H.
Publication year - 1987
Publication title -
european journal of political research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.267
H-Index - 95
eISSN - 1475-6765
pISSN - 0304-4130
DOI - 10.1111/j.1475-6765.1987.tb00874.x
Subject(s) - economics , field (mathematics) , positive economics , empirical evidence , neoclassical economics , kondratiev wave , keynesian economics , macroeconomics , epistemology , philosophy , mathematics , pure mathematics
. The paper gives a brief overview of long wave analyses by embedding them into a general growth model of the Schumpeterian kind. A theory is presented which rests on price distortions in product and factor markets, and on the observation that institutional sluggishness prevents a society from reacting quickly to such distortions. This, it is argued, breeds cycles of the Kondratieff type. Empirical evidence to support this theory is presented for Germany and for Argentina.