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Productivity puzzle? Financialization, inequality, investment in the UK

Ozlem Onaran () and Daniele Tori ()

No 16129, Greenwich Papers in Political Economy from University of Greenwich, Greenwich Political Economy Research Centre

Abstract: According to econometric estimations using firm balance sheets of the publicly listed companies in the UK, in large non-financial corporations (NFCs), investment rate would have been 16% higher without the rise in financial payments, and 41% higher without the increasing financial incomes, and in the small NFCs, investment would have been 35% higher without the rise in financial incomes.

Keywords: Financialization; Investment; Non-financial sector; Firm data; UK; productivity puzzle (search for similar items in EconPapers)
JEL-codes: C23 D22 G31 (search for similar items in EconPapers)
Date: 2017-01-01
New Economics Papers: this item is included in nep-cfn and nep-eff
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