Modernization and prospects of advancing development of Donbass in view of theory of Kondratieff’s long waves

The analysis of the crisis in the Donetsk and Lugansk regions through the prism of Kondratieff’s wave was conducted. Essence and features of the concept of "modernization". Reveals the essence and features of the concept of "modernization". The modernization of the industrial model of economic development were justified. Proved the concept and key strategic prospects of advancing development of the Donbass. Proposed triad directions of modernization and economic development of Donbass: science, education, finance, infrastructure. Evaluated of the development of individual cities of Donetsk and Lugansk regions in the context of neo-industrial and post-industrial processes of modernization.