DISCUSSING THE POTENTIAL DETERMINANTS OF DECLINING LABOR’S SHARE: A DESCRIPTIVE RESEARCH FOR OECD AND NON-OECD COUNTRIES

Yıl 2018, Cilt: 5 Sayı: 10, 271 - 304, 30.12.2018

Onur Özdemir

Öz

Numerous studies have empirically analyzed the reasons
for the declining labor share of income, but only a few have found a common explanation in case of an aggregate
economic structure. In this study, a
major channel through which potential determinants may affect labor share of
income is descriptively examined: the distribution/allocation channel. In this
regard, the main feature of this study is to focus
primarily on openness measures of trade regime and the financial sector. In
addition, the institutional side of finance is included in the study in terms of financial development index comprising of
both markets and institutions dataset of finance. While these indicators
constitute the major body of the study, the other variables are added into the
descriptive analysis. Moreover, some of these stylized facts are integrated
into the basic framework as they, more or less, affect each sample country over
time, especially under the use of liberalization policies imposed by recognized
institutions such as IMF, World Bank, and Bank for International Settlements. This
article suggests that the distributional variances not only depend on partial effect of a single indicator but also on
their interactions with each other.
Therefore, the comprehensive analysis of income distribution should consider
the interaction terms of some crucial determinants as well as the weakened
bargaining power of workers which have started to exaggerate in the early
1980s.

Anahtar Kelimeler

Labor Share, Functional Income Distribution, Capital Account Openness, Financial Development

AZALAN EMEK PAYININ POTANSİYEL BELİRLEYİCİLERİNİN TARTIŞILMASI: OECD VE OECD-DIŞI ÜLKELER İÇİN BETİMSEL BİR ARAŞTIRMA

Öz

Pek
çok çalışma azalan emek gelir payının ardındaki nedenleri ampirik olarak analiz
etmiştir, ancak sadece birkaçı bütüncül ekonomik yapı durumunda ortak bir
açıklama bulmuştur. Bu çalışmada, emek gelir payını etkileyebilecek potansiyel belirleyicilerin
başlıca bağlantısı betimsel olarak incelenmektedir: bölüşüm/dağılım bağlantısı.
Bu bağlamda, çalışmanın temel özelliği öncelikli olarak ticaret rejiminin ve
finansal sektörün açıklık ölçütlerine odaklanmasıdır. Ayrıca, finansın kurumsal
yanı, hem piyasaların hem de kurumların finansal veri setlerinden oluşan
finansal gelişme endeksi yönünden çalışmaya dahil edilmektedir. Bu göstergeler
çalışmanın ana gövdesini oluştururken, diğer değişkenler de aynı zamanda
betimsel analize dahil edilmektedir. Dahası, bu stilize olguların bazıları, özellikle
IMF, Dünya Bankası ve Uluslararası Ödemeler Bankası gibi tanınmış kurumların
liberalleşme politikalarını uyguladıkları her bir örnek ülkeyi zaman içinde az
çok etkilemesi nedeniyle temel yapıya entegre edilmektedir. Bu makale,
bölüşümsel farklılaşmaların sadece tek bir değişkenin kısmi etkisine bağlı
kalmadığını, aynı zamanda birbirleriyle etkileşimlerine de bağlı olduğunu öne
sürmektedir. Bu nedenle, gelir dağılımının kapsamlı analizi, 1980’lerin
başlarında artmaya başlayan emeğin pazarlık gücündeki zayıflama kadar bazı
kritik öneme sahip belirleyenleri de dikkate almalıdır.

 

Anahtar Kelimeler

Emek Payı, Fonksiyonel Gelir Dağılımı, Sermaye Hesabı Açıklığı, Finansal Gelişme

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