 Verteilungseffekte von FinanzialisierungKarsten Kohler, Alexander Guschanski and Engelbert Stockhammer No 23471, Greenwich Papers in Political Economy from University of Greenwich, Greenwich Political Economy Research Centre Abstract: Financialisation is often associated with rising income inequality. The article describes the major aspects of financialisation in the foreign, financial, business and household sector, and identifies several hypotheses how financialisationaffects functional income distribution. We discuss enhanced exit options of firms, rising financial overhead costs for businesses, increased competition in capital mar-kets, and weakened bargaining power of workers due to indebtedness. The different hypotheses are operationalised through empirical measures and their effect on thewage share is tested econometrically by means of a panel data set of 14 OECD coun-tries over the period 1992–2014. We find statistically significant negative effects offinancial payments of firms and financial openness on the wage share. Keywords: Financialisation; Functional income distribution; Wage share; Political economy (search for similar items in EconPapers) Published in The Cologne Journal of Sociology / KZfSS Kölner Zeitschrift für Soziologie und Sozialpsychologie 1.70(2018): pp. 37-63 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:gpe:wpaper:23471 Access Statistics for this paper More papers in Greenwich Papers in Political Economy from University of Greenwich, Greenwich Political Economy Research Centre Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.