The investment-profit nexus in an era of financialisation and globalisation. A marxist perspective

Cédric Durand and Maxime Gueuder ()
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Maxime Gueuder: Aix-Marseille University (Aix-Marseille School of Economics), CNRS & EHESS

No 2016-01, CEPN Working Papers from Centre d'Economie de l'Université de Paris Nord

Abstract: During the past decades, the link between profits and domestic investment weakened in the biggest high-income economies. This contribution explores this relaxation of the profits-investment nexus in a Marxist profit-centred perspective. Focusing on the impact of the origins and the uses of profits, we study the investment behaviour of non-financial corporations in relation to their profits at the macro level since 1980, a period marked by financialisation and globalisation. We contrast three competing hypotheses – the Revenge of the Rentiers, the Financial-turn of Accumulation and Globalisation – and test them through a macro panel data analysis for France, Germany, Italy, Japan, United-Kingdom and United States over the period 1980-2012.

Keywords: Profits; Investment; Financialisation; Globalisation; Macro-panel analysis (search for similar items in EconPapers)
Pages: 34 pages
Date: 2016-04
New Economics Papers: this item is included in nep-eec and nep-hme
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:upn:wpaper:2016-01

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