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Two different export-oriented growth strategies under a wage-led accumulation regime

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  • Two different export-oriented growth strategies under a wage-led accumulation regime
  • Onaran, Özlem; Stockhammer, Engelbert
  • Political Economy Research Institute


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Title Two different export-oriented growth strategies under a wage-led accumulation regime
Similar Titles
Material Type Reports
Author(English)

Onaran, Özlem; Stockhammer, Engelbert

Publisher

Amherst : Political Economy Research Institute

Date 2001-12
Series Title; No Working Paper Series / 38
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Economy < Economic Administration
Holding Political Economy Research Institute
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Abstract

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. 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. The model, in addition to the goods market, includes a demand-driven labor market and a reserve army effect in the Marxian sense. The model is estimated in a structural vector auto regression form. The results show that decreasing the wage share does not stimulate accumulation, growth and employment.