Akademik Məlumat İdarəetmə Sistemi
ЕСОNОМIСS AND RЕGIОN, pp.6-10, 2020 (Peer-Reviewed Journal)
Introduction. The Anglo-Australian economist C. Clark was the first to conduct a comprehensive
structural analysis of the capitalist economy in the 1930s. Empirically, he established the existence of
interdependencies between the industrial structure of the economy, its institutional structure, and the general
rate of economic growth. Clark made a long-term forecast of the economic development of capitalism in the
post-war period, according to which the upward stage of the great Kondratieff cycle was to take place before
the early 1970s. Clark's forecast came true in many ways [1, p. 37]. The structural crisis of the 1970s
stimulated more research into the evolution of structural instability and its impact on economic development.
As a result, it was found that a structural crisis matures irrespective of the development of cyclic processes.
This brings the onset of the economic crisis, affects its depth and duration. The experience of world
economic crises of 1974–1976 and 1980–1982 showed that in various countries, the structural crisis is
roughly similarly “woven” into the cyclical movement of the economy [2, p. 120].