• Media type: E-Book
  • Title: Capital's grabbing hand? : a cross-country/cross-industry analysis of the decline of the labour share
  • Contributor: Bassanini, Andrea [Author]; Manfredi, Thomas [Author]
  • imprint: Paris: OECD, 2012
  • Published in: OECD: OECD social, employment and migration working papers ; 133
  • Extent: Online-Ressource; graph. Darst
  • Language: English
  • DOI: 10.1787/5k95zqsf4bxt-en
  • Identifier:
  • Keywords: 1970-2009 ; Lohnquote ; OECD-Staaten ; Employment ; Social Issues/Migration/Health ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
  • Origination:
  • Footnote: Zsfassung in franz. Sprache
    Systemvoraussetzungen: Acrobat Reader
  • Description: We examine the determinants of the within-industry decline of the labour share, using industry-level annual data for 25 OECD countries, 20 business-sector industries and covering up to 28 years. We find that total factor productivity growth – which captures (albeit imprecisely) capital-augmenting or labour-replacing technical change – and capital deepening jointly account for as much as 80% of the within-industry contraction of the labour share. We also find that other important factors are privatisation of state-owned enterprises and the increase in international competition as well as off-shoring of intermediate stages of the production process. By contrast, we are unable to detect any effect from increases in domestic competition brought about by entry deregulation.