English, Article, Journal or magazine article edition: Wage Share, Globalization, and Crisis: The Case of the Manufacturing Industry in Korea, Mexico, and Turkey Özlem Onaran

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/199865
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Wage Share, Globalization, and Crisis: The Case of the Manufacturing Industry in Korea, Mexico, and Turkey
Author
  • Özlem Onaran
Physical Description
  • preprint
Notes
  • This paper analyzes the changes in the wage share in manufacturing industry in <country-region w:st=​"on"></​country-region></​country-region></​/​country-region>Mexico</​country-region></​/​country-region></​></​/​>, <country-region w:st=​"on"></​country-region></​country-region></​/​country-region>Turkey</​country-region></​/​country-region></​></​/​>, and <country-region w:st=​"on"></​country-region></​country-region></​/​country-region><place w:st=​"on"> </​/​place>Korea </​/​place></​></​/​></​country-region></​/​country-region></​></​/​> in the era of globalization. The author assesses the effects of globalization on the wage share, as measured by the effects of international trade and foreign direct investment (FDI) intensity of the economy. At the same time, the processes of globalization and opening up have been accompanied by major currency crises in most developing countries in the last decade—hence the author also examines the impact that exchange rate depreciation and economic recession have had on wage share. The paper develops a Post- Keynesian conflicting claims model for an open economy under the pressure of globalization. An equation for the wage share is estimated for each country using the ‘seemingly unrelated regression’ method. The results show that both recessions and nominal depreciations have a clear and lasting negative effect on the manufacturing wage share in all countries, whereas the effect of openness, in particular international trade, depends on industrial policy structure. Increased export intensity leads to a decline the manufacturing wage share in <country-region w:st=​"on"></​country-region></​country-region></​/​country-region>Turkey</​country-region></​/​country-region></​></​/​> and <country-region w:st=​"on"></​country-region></​country-region></​/​country-region>Mexico</​country-region></​/​country-region></​></​/​>, but has no significant effect in <country-region w:st=​"on"></​country-region></​country-region></​/​country-region><place w:st=​"on"> </​/​place>Korea </​/​place></​></​/​></​country-region></​/​country-region></​></​/​>. The positive expectations from FDI also do not materialized in any of the three countries. Ozlem Onaran is a PERI Research Scholar and Associate Professor at Vienna University of Economics and Business Administration.
  • labor’s share, developing countries, trade, FDI, crisis
  • RePEc:uma:periwp:wp132
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