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Medientyp:
E-Artikel
Titel:
Autonomous demand and technical change: exploring the Kaldor–Verdoorn law on a global level
Beteiligte:
Deleidi, Matteo;
Fontanari, Claudia;
Gahn, Santiago José
Erschienen:
Springer Science and Business Media LLC, 2023
Erschienen in:Economia Politica
Sprache:
Englisch
DOI:
10.1007/s40888-023-00294-y
ISSN:
1120-2890;
1973-820X
Entstehung:
Anmerkungen:
Beschreibung:
<jats:title>Abstract</jats:title><jats:p>This paper aims to explain labour productivity through the lens of a Kaldorian perspective. To assess the relationship between output, demand, capital accumulation, and labour productivity, we apply Panel Structural Vector Autoregressive (P-SVAR) modelling to a dataset of 52 countries observed over a long-time span as provided by the Penn World Table. Findings validate the Kaldorian perspective and show that demand shocks—measured by government expenditures and exports—produce positive and persistent effects on labour productivity. Findings are confirmed even when the full sample is broken down to consider developed and developing countries separately.</jats:p>