ECONOMIC CYCLES: CONTENT OF BASIC CONCEPTS AND IMPACT ON INDUSTRIAL DEVELOPMENT OF THE ECONOMY OF REGIONS AND INDUSTRIES OF RUSSIA

Abstract

The article is devoted to the analysis of the theory and practice of the cyclical development of the economy. Revealed the relevance of studying the cyclical development of socio-economic systems; the content of key concepts used in the modern interpretation of the economic cycle (essence, content, manifestation and form of the economic cycle); classification of theories of cyclical development of the economy. The characteristics of the main types of non-cyclical fluctuations in the economy are given: seasonal fluctuations, reflecting the influence of seasonal and climatic conditions; structural fluctuations associated with changes in demand for certain types of products; transitional fluctuations due to a change in the mechanism of the functioning of the economy. The distinctive features of the economic cycles of the second half of the twentieth century, due to the third industrial revolution, the growing influence of transnational corporations and the transition to a post-industrial society, are analyzed. The main directions of modification of economic cycles in the second half of the 20th century are presented. The beginning of the XXI century. The modern features of the cyclical development of the Russian economy, related, among other things, to the influence of anti-Russian sanctions and the use of other non-market instruments in the global economy, are analyzed. The conclusion is made about the growing influence of uncertainty on the adoption of strategic decisions in modern conditions and the increasing importance of ensuring import independence for the industrial development of the economy of regions and industries in Russia.