English, Article, Journal or magazine article
Demanda efetiva, conflito distributivo e regime de acumulação em um modelo estruturalista de ciclo: os casos britânico e turco
Raphael Rocha Gouvêa; Gilberto A. Libânio
DEMANDA EFETIVA, CONFLITO DISTRIBUTIVO E REGIME DE ACUMULAÇÃO EM UM MODELO ESTRUTURALISTA DE CICLO: OS CASOS BRITÂNICO E TURCO
Raphael Rocha Gouvêa
Gilberto A. Libânio
This paper discusses the existence of different accumulation regimes in developed and developing economies. The central issue to be analyzed refers to the effect of an increase in the wage share in national income on output growth. When such increase positively affects output, the accumulation regime is wage-led. Otherwise, the regime is profit-led. The main hypothesis to be tested is that developing economies are characterized by wage-led regimes, whereas in developed countries accumulation is profit-led. In this paper, we apply the model developed by Barbosa-Filho and Taylor (2006) to test this hypothesis for the cases of UK and Turkey. The empirical evidence presented here, by the use of a VAR model, supports the hypothesis.
effective demand; functional income distribution; accumulation regimes
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