English, Article, Journal or magazine article edition: Two Different Export-oriented Growth Strategies under a Wage-led Accumulation Regime: à la Turca and à la South Korea Özlem Onaran; Engelbert Stockhammer

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/199389
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Two Different Export-oriented Growth Strategies under a Wage-led Accumulation Regime: à la Turca and à la South Korea
Author
  • Özlem Onaran
  • Engelbert Stockhammer
Physical Description
  • preprint
Notes
  • The aim of the paper is to compare the relationship between distribution, growth, accumulation and employment in Turkey and South Korea. These countries represent two different export-oriented growth experiences. The results of the adjustment experiences of both countries are in striking contrast to orthodox theory, however they also present counterexamples to each other in terms of their ways of integrating into the world economy. Thereby they provide examples for comparing different economic policies. The paper tests whether accumulation and employment are wage-led in these two countries by means of a post- Keynesian open economy model, that includes a demand-driven labor market and a reserve army effect in the Marxian sense. The model is estimated in a structural vector autoregression form, in order to capture the complex simultaneous interaction between distribution, accumulation, growth and employment within a systems approach. This model, and the method of estimation are the two innovations of this paper in addressing the crucial policy issues related with structural adjustment problems in developing countries. The results show that decreasing the wage share does not stimulate accumulation, growth and employment. Interestingly, the relation between wage share, investment, growth and employment is similar in both Turkey and South Korea; however the former experienced low and the latter high growth rates due to different export-oriented growth strategies. The explanation of this difference is found in the field of institutions, power structures, and state policies.
  • Accumulation, distribution, export-oriented growth, structural adjustment, post-Keynesian economics
  • RePEc:uma:periwp:wp38
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment