Abstract
The course of economic processes in all the industrialized countries is characterized
 by cyclicality. Economic cycles affect the majority of spheres in any given national
 economy and are characterized by a variety of distinctive features. The concept
 of “long cycles” for a period of 40–60 years was introduced by the Soviet scientist
 Nikolai Kondratieff, and further these cycles have become known as the “Kondratieff
 long waves”. The change of cycles is associated with deep qualitative changes
 in the economy. Kondratieff economic cycle comprises four phases: recovery,
 boom, recession and depression. It is assumed that this theory of wave-like cyclical
 development should be comprehended as applied to the economy of France.
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