Income shares and capital formation: patterns of recent developments |
| |
| Institution: | 1. Faculty of Management, University of Presov, 080 01 Presov, Slovakia;2. Department of Finance and Accounting, University of Economics, 13067 Prague, Czech Republic;3. Institute of Economic Research, Slovak Academy of Sciences, 811 05 Bratislava, Slovakia;4. UiS Business School, University of Stavanger, 4036 Stavanger, Norway;5. Faculty of Economic Sciences and Management, Nicolaus Copernicus University, 87-100 Toruńn, Poland;1. Associate Professor of Finance, College of Business, 2700 Bay Area Blvd., Box 70, University of Houston – Clear Lake, Houston, TX, 77058, USA;2. Professor of Finance, Department of Finance, MSC 3FIN, College of Business, P.O. BOX 30001, New Mexico State University, Las Cruces, NM 88003, USA |
| |
| Abstract: | The development of the functional income distribution in the advanced capitalist economies of France, Germany, the United Kingdom and the U.S.A. has shown a marked shift towards the profit share during the 1980s. Starting from this observation the impact of changing income shares on capital formation is studied in a post-keynesian framework. Following a model proposed by Bhaduri/Marglin, different patterns of income distribution and capital accumulation are distinguished theoretically and are examined empirically for the manufacturing sectors of the investigated economies. It is concluded that the development of the profit share and the rate of capital accumulation on average over the business cycle implies that the conditions for co-operative “wage-led growth” have been established again during the cycle covering the 1980s, although these opportunities for co-operation have not been realized by supply-side politics. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
