The modern theory of cyclical fluctuations and its relevancy to actual processes in the global economy are discussed in the article. It points to the limited applicability of the theory to practical needs of households, businesses and governments. Possible directions of the theory evolution are...

The article analyzes the investment—saving balance in developed and developing countries and groups of countries. Main determinants of investment and saving decisions of different economic agents are derived from well-known theoretic papers. The analysis of pre-crisis investment—saving...