Long Waves of the International Industrial Production, Consumption of Energy, Innovations, Inventions, and Patents, 1738–1979.

This connection, however, does not imply that innovations and inventions follow the growth pattern of the industrial production directly. In the scope of a secondary analysis, the authors analyse selected series including cycles of different length by means of a time series-related analytic method, the spectral analysis.

In doing so, the (global) industrial production, the global energy consumption (primary energy), and the British and American patent statistics are taken into account. On the basis of a data pooling of 182 inventions and innovations, two indices are created additionally: the index of innovations and the index of inventions. Any such innovation and invention is represented by three indicators: the “number”, the “importance coefficient”, and the “power coefficient” relating to the potential of innovations.