A comparison of the neo-Schumpeterian theory of Kondratiev waves and the multi-level perspective on transitions

This paper explores the relationship of the neo-Schumpeterian theory for Kondratiev waves, also called 'Long Waves' of economic growth, to Transition theory, in particular the multi-level perspective. The two conceptual frameworks have a similar description of the development of new technologies. While they both use the ontology of co-evolution, the MLP combines this with Science and Technology Studies, Giddens' Structuration theory and neo-institutionalism. Neo-Schumpeterian theory can contribute to the consideration of landscape dynamics in the MLP, while agency in the niche-regime interactions emphasised by the MLP could be used to extend the analysis of Kondratiev waves. (C) 2012 Elsevier B.V. All rights reserved.