The behavior of substorms as sudden transitions of the magnetosphere is stu
died using the Bargatze et al. [1985] data set of the solar wind induced el
ectric field vB(s) and the auroral electrojet index AL. The data set is div
ided into three subsets representing different levels of activity, and they
are studied using the singular spectrum analysis. The points representing
the evolution of the magnetosphere in the subspace of the eigenvectors corr
esponding to the three largest eigenvalues can be approximated by two-dimen
sional manifolds with a relative deviation of 10-20%. For the first two sub
sets corresponding to small and medium activity levels the manifolds have a
pleated structure typical of the cusp catastrophe. The dynamics of the mag
netosphere near these pleated structures resembles the hysteresis phenomeno
n typical of first-order phase transitions. The reconstructed manifold is s
imilar to the "temperature-pressure-density" diagrams of equilibrium phase
transitions, The singular spectra of vB(s), AL, and combined data have the
power law dependence typical of second-order phase transitions and self-org
anized criticality. The magnetosphere thus exhibits the signatures of both
self-organization and self-organized criticality. It is concluded that the
magnetospheric substorm is neither a pure catastrophe of the low-dimensiona
l system nor a random set of avalanches of different scales described by th
e simple sandpile models. The substorms behave like nonequilibrium phase tr
ansitions, with features of both first- and second-order phase transitions.