Skip navigation

Verteilungseffekte von Finanzialisierung

Verteilungseffekte von Finanzialisierung

Kohler, Karsten, Guschanski, Alexander ORCID: 0000-0002-7818-8264 and Stockhammer, Engelbert (2018) Verteilungseffekte von Finanzialisierung. The Cologne Journal of Sociology / KZfSS Kölner Zeitschrift für Soziologie und Sozialpsychologie, 70 (1). pp. 37-63. ISSN 0023-2653 (Print), 1861-891X (Online) (doi:https://doi.org/10.1007/s11577-018-0537-7)

[img]
Preview
PDF (Publisher's PDF - Open Access)
23471 GUSCHANSKI_Verteilungseffekte_von_Finanzialisierung_(OA)_2018.pdf - Published Version
Available under License Creative Commons Attribution.

Download (545kB) | Preview

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.

Item Type: Article
Additional Information: © The Author(s) 2018. Open Access. Dieser Artikel wird unter der Creative Commons Namensnennung 4.0 International Lizenz (http://creativecommons.org/licenses/by/4.0/deed.de) veröffentlicht, welche die Nutzung, Vervielfältigung, Bearbeitung, Verbreitung und Wiedergabe in jeglichem Medium und Format erlaubt, sofern Sie den/die ursprünglichen Autor(en) und die Quelle ordnungsgemäß nennen, einen Link zur Creative Commons Lizenz beifügen und angeben, ob Änderungen vorgenommen wurden.
Uncontrolled Keywords: Financialisation, Functional income distribution, Wage share, Political economy
Subjects: H Social Sciences > HB Economic Theory
Faculty / Department / Research Group: Faculty of Business
Faculty of Business > Department of International Business & Economics
Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA)
Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC)
Last Modified: 28 Apr 2019 01:08
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
Selected for GREAT 2019: GREAT 2
URI: http://gala.gre.ac.uk/id/eprint/23471

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics