The Cyclical Nature of International Trade: The Aspect of Technological Impact
Journal Title: Socialiniai tyrimai - Year 2013, Vol 33, Issue 4
Abstract
Modern theories are increasingly focusing on cyclical nature. This article is dedicated to the cyclical nature of international trade examined from the impact of technology. The study presented in the paper considers three different aspects. First, the paper discloses the theories of economic growth, such as classical, neoclassical, exogenous, and endogenous growth theories; it also reveals the importance of the impact of technology referred to the economic growth theories. Second, in the paper different economic views to the length of cycle are presented. The study is reviewing the short-run (Kitchin cycle), mid-run (Juglar cycle, Kuznets swing), and long-run (Kondratjew wave, Grand Supercycle) economic cycles. Third, in the paper the analysis of historical events is applied seeking to explain the cyclical nature of international trade, the length, strength, and the origin of economic cycles.
Authors and Affiliations
Aurelija Burinskiene
Keywords
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