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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