The theory of innovation cycles as a guideline for Mazovia in the fight against recession caused by COVID-19

The recession triggered by the COVID-19 pandemic is undoubtedly a heavy burden on the developed and driven economy, both in the regional and global context. No one thought that under such unexpected circumstances a global crisis would arise from a place in distant China. From an economic point of view, this fact has stimulated a series of events that have increasingly affected in a larger scope, extent and force the smooth functioning of economic operators. But this situation is not unfamiliar to the economy – it is known that there are business cycles with a confirmed regularity over time. Following this path, the article points out the so-called Kondratiev Waves, which characteristics have elements in common with the current economic situation. Consequently, as in every wave, the phase of recession, caused by some kind of reason, goes through depression to the phase of reconstruction – then the economy gets a significant developmental impulse. The specificity of this time is a large number of innovations, mainly radical and fundamental, but the observations of the economic crises extended over time affect the nature of these innovations. From the perspective of the lasting pandemic period, that is perhaps impulse in circularity of the economy. We can expect that shipment from recession and depression to recovery should the accumulation of economic potential and the appearance of innovations on the market occur. Mazovia, thanks to innovation specialisations and support for innovative services, may have favourable conditions and a better position at that time.