References
- ABEL, J. R., DEY, I. and GABE, T. M. (2012). Productivity and the Density of Human Capital, Journal of Regional Science, 52(4), 562-586. DOI: 10.1111/j.1467-9787.2011.00742.x10.1111/j.1467-9787.2011.00742.x
- ACEMOGLU, D. (2003). Patterns of Skill Premia, The Review of Economic Studies, 70(2), 199-230. DOI: 10.1111/1467-937X.0024210.1111/1467-937X.00242
- ACEMOGLU, D. and AUTOR, D. (2011). Skills, Tasks and Technologies: Implications for Employment and Earnings, in D. Card and O. Ashenfelter (eds.), Handbook of Labor Economics, 1043-1171, Amsterdam: Elsevier.
- AIZENMAN, J. (2018). A modern reincarnation of Mundell-Fleming’s trilemma, Economic Modelling, in press, corrected proof.
- ALCALA, F. and CICCONE, A. (2004). Trade and Productivity, The Quarterly Journal of Economics, 119(2), 613-646. DOI: 10.1162/003355304138213910.1162/0033553041382139
- ANDERSON, E. (2005). Openness and inequality in developing countries: A review of theory and recent evidence, World Development, 33(7), 1045-1063.
- ANDERSON, A. S. and NIELSEN, F. (2002). Globalization and the Great U-Turn: Income Inequality Trends in 16 OECD Countries, American Journal of Sociology, 107(5), 1244-1299. DOI: 10.1016/j.worlddev.2005.04.00310.1016/j.worlddev.2005.04.003
- AUTOR, D. H., KATZ, L. F., and KRUEGER, A. B. (1998). Computing Inequality: Have Computers Changed the Labor Market?, The Quarterly Journal of Economics, 113(4), 1169-1214.
- BARAN, P. (1957). The Political Economy of Growth. London and New York: Monthly Review Press.
- BASU, P. and GUARIGLIA, A. (2007). Foreign Direct Investment, inequality, and growth, Journal of Macroeconomics, 29(4), 824-839. DOI: 10.1016/j.jmacro.2006.02.00410.1016/j.jmacro.2006.02.004
- BECK, N. and KATZ, J. N. (1995). What to do (and not to do) with Time-Series Cross-Section Data, The American Political Science Review, 89(3), 634-647. DOI: 10.2307/208297910.2307/2082979
- BENTOLILA, S. and SAINT-PAUL, G. (2003). Explaining Movements in the Labor Share, The B.E. Journal of Macroeconomics, De Gruyter, 3(1), 1-33, October.
- BERMAN, E., BOUND, J., and GRILICHES, Z. (1994). Changes in the Demand for Skilled Labor within U.S. Manufacturing: Evidence from the Annual Survey of Manufacturers, The Quarterly Journal of Economics, 109(2), 367-397. DOI: 10.2307/211846710.2307/2118467
- BLAU, B. M. (2018). Income inequality, poverty, and the liquidity of stock markets, Journal of Development Economics, 130, 113-126. DOI: 10.1016/j.jdeveco.2017.10.00610.1016/j.jdeveco.2017.10.006
- BOYER, R. (2000). Is a Finance-led growth regime a viable alternative to Fordism? A preliminary analysis, Economy and Society, 29(1), 111-145. DOI: 10.1080/03085140036058710.1080/030851400360587
- BUMANN, S. and LENSINK, R. (2016). Capital account liberalization and income inequality, Journal of International Money and Finance, 61, 143-162. DOI: 10.1016/j.jimonfin.2015.10.00410.1016/j.jimonfin.2015.10.004
- CHEN, X., LIN, S. and REED, W. R. (2006). Another Look at What to Do with Time-Series Cross-Section Data, Working Paper No. 04/2006, Department of Economics, College of Business and Economics, Christchurch: New Zealand.
- CHINN, M. D. and ITO, H. (2002). Capital Account Liberalization, Institutions and Financial Development: Cross Country Evidence, National Bureau of Economic Research, NBER Working Paper Series No: 8967, June.
- CHOI, C. (2006). Does foreign direct investment affect domestic income inequality?, Applied Economics Letters, 13(12), 811-814. DOI: 10.1080/1350485050040063710.1080/13504850500400637
- CRESPI, G., CRISCUOLO, C. and HASKEL, J. (2008). Productivity, exporting, and the learning-by-exporting hypothesis: direct evidence from UK firms, Canadian Journal of Economics, 41(2), 619-637. DOI: 10.1111/j.1540-5982.2008.00479.x10.1111/j.1540-5982.2008.00479.x
- CROTTY, J. (2005). The Neoliberal Paradox: The Impact of Destructive Product Market Competition and ‘Modern’ Financial Markets on Nonfinancial Corporation Performance in the Neoliberal Era, In. G. EPSTEIN (ed.), Financialization and the World Economy, Cheltenham and Northampton: Edward Elgar, 77-110.
- DAS, M. and MOHAPATRA, S. (2003). Income inequality: the aftermath of stock market liberalization in emerging markets, Journal of Empirical Finance, 10(1-2), 217-248. 10.1016/S0927-5398(02)00025-7
- DAVIS, D. R. (1996). Trade Liberalization and Income Distribution, NBER Working Papers, No. 5693, National Bureau of Economic Research.
- DE LOECKER, J. (2013). Detecting Learning by Exporting, American Economic Journal: Microeconomics, 5(3), 1-21.
- DREHER, A. (2006). Does globalization affect growth? Evidence from a new index of globalization, Applied Economics, 38(10), 1091-1110. DOI: 10.1080/00036840500392078
- DRISCOLL, J. C. and KRAAY, A. C. (1998). Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data, Review of Economics and Statistics, 80(4), 549-560. DOI: 10.1162/00346539855782510.1162/003465398557825
- DUMENIL, G. and LÉVY, D. (2004). Capital Resurgent: Roots of the Neoliberal Revolution. Cambridge, Massachusetts and London: Harvard University Press.
- DUMENIL, G. and LÉVY, D. (2011). The Crisis of Neoliberalism. Cambridge, Massachusetts and London: Harvard University Press.
- DÜNHAUPT, P. (2013). The effect of financialization on labor’s share of income, Institute for International Political Economy Berlin, Working Paper No. 17/2003.
- DÜNHAUPT, P. (2017). Determinants of labour’s income share in the era of financialisation, Cambridge Journal of Economics, 41, 283-306. DOI: 10.1093/cje/bew02310.1093/cje/bew023
- EICHENGREEN, B., GULLAPALLI, R. and PANIZZA, U. (2011). Capital account liberalization, financial development and industry growth: a synthetic view, Journal of International Money and Finance, 30(6), 1090-1106. DOI: 10.1016/j.jimonfin.2011.06.00710.1016/j.jimonfin.2011.06.007
- EPSTEIN, G. (2005). Introduction: Financialization and the World Economy, In G. EPSTEIN, (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, 3-16.
- FAVILUKIS, J. (2013). Inequality, stock market participation, and the equity premium, Journal of Financial Economics, 107(3), 740-759. DOI: 10.1016/j.jfineco.2012.10.00810.1016/j.jfineco.2012.10.008
- FEENSTRA, R. C. and HANSON, G. H. (1996). Globalization, Outsourcing, and Wage Inequality, The American Economic Review, 86(2), 240-245
- FEENSTRA, R. C. and HANSON, G. H. (1997). Foreign direct investment and relative wages: Evidence from Mexico’s maquiladoras, Journal of International Economics, 42(3-4), 371-393. DOI: 10.1016/S0022-1996(96)01475-410.1016/S0022-1996(96)01475-4
- FEENSTRA, R. C., INKLAAR, R. and TIMMER, M. P. (2015). The Next Generation of the Penn World Table, American Economic Review, 105(10), 3150-3182. DOI: /10.1257/aer.20130954
- FINE, B. (2010). Neoliberalism as financialisation, Alfredo Saad-Filho and Galip L. Yalman (eds.), Economic Transitions to Neoliberalism in Middle-income Countries: Policy dilemmas, economic crises, forms of resistance, London and New York: Routledge, 11-23.
- FOSTER, J. B. (2006). Monopoly-Finance Capital, Monthly Review, 58(7), December.
- FOSTER, J. B. (2010). The Financialization of Accumulation, Monthly Review, 62(5), October.
- FOSTER, J. B. and MCCHESNEY, R. W. (2009). Monopoly-Finance Capital and the Paradox of Accumulation, Monthly Review, 61(5), October.
- GLYN, A. (2006). Capitalism Unleashed: Finance Globalization and Welfare. Oxford and New York: Oxford University Press.
- GOLDBERG, P. K. and PAVCNIK N. (2004). Trade, Inequality and Poverty: What Do We Know? Evidence from Recent Trade Liberalization Episodes in Developing Countries, Brookings Trade Forum, 223-269.
- GOLDBERG, P. K. and PAVCNIK, N. (2007). Distributional Effects of Globalization in Developing Countries, Journal of Economic Literature, 45(1), 39-82. DOI: 10.1257/jel.45.1.3910.1257/jel.45.1.39
- GOLLIN, D. (2002). Getting Income Shares Right, Journal of Political Economy, 110(2), 458-474. DOI: 10.1086/33874710.1086/338747
- GOPINATH, M. and CHEN, W. (2003). Foreign direct investment and wages: a cross-country analysis, The Journal of International Trade & Economic Development, 12(3), 285-309. DOI: 10.1080/096381903200013206710.1080/0963819032000132067
- GUERRIERO, M. (2012). The Labour Share of Income around the World: Evidence from a Panel Dataset, Institute for Development Policy and Management (IDPM), Development Economics and Public Policy Working Paper Series No: 32.
- HAAN, J., PLENINGER, R. and STURM, J. E. (2018). Does the impact of financial liberalization on income inequality depend on financial development? Some new evidence, Applied Economics Letters, 25(5), 313-316. DOI: 10.1080/13504851.2017.131955410.1080/13504851.2017.1319554
- HALABY, C. N. (2004). Panel Models in Sociological Research: Theory into Practice, Annual Review of Sociology, 30, 507-544. DOI: 10.1146/annurev.soc.30.012703.11062910.1146/annurev.soc.30.012703.110629
- HARRISON, A. (2005). Has Globalization Eroded Labor’s Share? Some Cross-Country Evidence, Munich Personal RePEc Archive, MPRA Paper No: 39649, April.
- HEIN, E. (2006). Interest, Debt and Capital Accumulation-A Kaleckian Approach, International Review of Applied Economics, 20(3), 337-352. DOI: 10.1080/0269217060073612810.1080/02692170600736128
- HEIN, E. (2007). Interest Rate, Debt, Distribution and Capital Accumulation in a Post-Kaleckian Model, Metroeconomica, 58(2), 310-339. DOI: 10.1111/j.1467-999X.2007.00270.x10.1111/j.1467-999X.2007.00270.x
- HEIN, E. (2008). Money, Distribution Conflict and Capital Accumulation. Contributions to Monetary Analysis. Basingstoke: Palgrave Macmillan.
- HEIN, E. (2010a). A Keynesian perspective on ‘financialisation, in P. ARESTIS, and M. SAWYER (eds.), 21st Century Keynesian Economics, Basingstoke: Palgrave Macmillan.
- HEIN, E. (2010b). Shareholder Value Orientation, Distribution and Growth - Short- and Medium-Run Effects in a Kaleckian Model, Metroeconomica, 61(2), 302-332. DOI: 10.1111/j.1467-999X.2009.04072.x10.1111/j.1467-999X.2009.04072.x
- HEIN, E. (2012). The Macroeconomics of Finance-Dominated Capitalism-and its Crisis. Cheltenham: Edward Elgar.
- HEIN, E. (2015). Finance-dominated capitalism and re-distribution of income: a Kaleckian perspective, Cambridge Journal of Economics, 39, 907-934. DOI: 10.1093/cje/bet03810.1093/cje/bet038
- HEIN, E. and VAN TREECK, T. (2010a). Financialisation and Rising Shareholder Power in Kaleckian/Post-Kaleckian Models of Distribution and Growth, Review of Political Economy, 22(2), 205-233. DOI: 10.1080/0953825100366562810.1080/09538251003665628
- HEIN, E. and VAN TREECK, T. (2010b). Financialisation in Post-Keynesian Models of Distribution and Growth-A Systematic Review, in M. SETTERFIELD (ed.), Handbook of Alternative Theories of Economic Growth, Cheltenham: Edward Elgar.
- HERZER, D. and NUNNENKAMP, P. (2013). Inward and outward FDI and income inequality: evidence from Europe, Review of World Economics, 149(2), 395-422. DOI: 10.1007/s10290-013-0148-310.1007/s10290-013-0148-3
- HILFERDING, R. [1981] (2006). Finance-Capital: A Study of the Latest Phase of Capitalist Development, 2006 New Edition, London and Boston: Routledge & Kegan Paul.
- ILO (2011). World of Work Report 2011: Making markets work for jobs. Geneva: ILO.
- IM, K. S., PESARAN, M. H. and SHIN, Y. (2003). Testing for unit roots in heterogeneous panels, Journal of Econometrics, 115(1), 53-74. DOI: 10.1016/S0304-4076(03)00092-710.1016/S0304-4076(03)00092-7
- ITO, K. (2012). Sources of Learning-by-Exporting Effects: Does Exporting Promote Innovation, Economic Research for ASEAN and East Asia (ERIA), Working Papers DP-2012.
- JAYADEV, A. (2007). Capital account openness and the labour share of income, Cambridge Journal of Economics, 31(3), 423-443. DOI: 10.1093/cje/bel03710.1093/cje/bel037
- KALECKI, M. [1954] (2003). Theory of Economic Dynamics. London: George Allen and Unwin.
- KINDLEBERGER, C. P. and ALIBER, R. (2005). Manias, Panics and Crashes: A History of Financial Crises. Basingstoke: Palgrave Macmillan.
- KMENTA, J. (1986). Elements of Econometrics. 2nd ed. New York: Macmillan.
- KRIPPNER, G. R. (2011). Capitalizing on Crisis: The Political Origins of the Rise of Finance. Cambridge, Massachusetts and London: Harvard University Press.
- KRISTAL, T. (2010). Good Times, Bad Times: Postwar Labor’s Share of National Income in Capitalist Democracies, American Sociological Review, 75(5), 729-763. DOI: 10.1177/000312241038264010.1177/0003122410382640
- KRUEGER, A. B. (1999). Measuring Labor’s Share, National Bureau of Economic Research, NBER Working Paper No: 7006, March.
- KUZNETS, S. (1955). Economic Growth and Income Inequality, American Economic Review, 45(1), 1-28.
- LAPAVITSAS, C. (2010). Financialisation and Capitalist Accumulation: Structural Accounts of the Crisis of 2007-9, Research on Money and Finance, Discussion Papers No: 16.
- LAPAVITSAS, C. (2013). The financialization of capitalism: ‘Profiting without producing’, City, 17(6), 792-805. DOI: 10.1080/13604813.2013.85386510.1080/13604813.2013.853865
- LAVOIE, M. (1993). A post-classical view of money, interest, growth and distribution, in G. Mongiovi and C. Ruhl (eds.), Macroeconomic Theory: Diversity and Convergence, Cambridge: Cambridge University Press.
- LAVOIE, M. (2014). Post-Keynesian Economics: New Foundations. Cheltenham: Edward Elgar.
- LAZONICK, W. and O’SULLIVAN, M. (2000). Maximizing shareholder value: a new ideology for corporate governance, Economy and Society, 29(1), 13-35. DOI: 10.1080/03085140036054110.1080/030851400360541
- LEE, E. and VIVARELLI, M. (2004). Understanding Globalization, Employment and Poverty Reduction. New York: Palgrave Macmillan.
- LEVIN, A., LIN, C. F. and CHU, C. S. J. (2002). Unit root tests in panel data: asymptotic and finite-sample properties, Journal of Econometrics, 108(1), 1-24. DOI: 10.1016/S0304-4076(01)00098-710.1016/S0304-4076(01)00098-7
- MARTIN, R. (2002). Financialization of Daily Life. Philadelphia: Temple University Press.
- MESCHI, E. and VIVARELLI, M. (2009). Trade and Income Inequality in Developing Countries, World Development, 37(2), 287-302. DOI: 10.1016/j.worlddev.2008.06.00210.1016/j.worlddev.2008.06.002
- MILBERG, W. and WINKLER, D. (2013). Outsourcing Economics: Global Value Chains in Capitalist Development. Cambridge: Cambridge University Press.
- NORRIS, P. (2000). Global governance and cosmopolitan citizens, In J. S. NYE and J. D. DONAHUE (eds.), Governance in a Globalizing World, Washington DC: Brookings Institution Press, 155-177.
- Palley, T. I. (2007). Financialization: What It Is and Why It Matters, The Levy Economics Institute Working Paper, No. 525, December.
- PARKS, R. W. (1967). Efficient Estimation of a System of Regression Equations when Disturbances are Both Serially and Contemporaneously Correlated, Journal of the American Statistical Association, 62(318), 500-509. DOI: 10.1080/01621459.1967.1048292310.1080/01621459.1967.10482923
- PIVA, M. and VIVARELLI, M. (2004). Technological change and employment: Some micro evidence from Italy, Applied Economics Letters, 11(6), 373-376. DOI: 10.1080/135048504200022822210.1080/1350485042000228222
- POLANYI, K. (2001). The Great Transformation: The Political and Economic Origins of Our Times. Boston: Beacon Press.
- REINHARDT, D., RICCI, L. A. and TRESSEL, T. (2013). International capital flows and development: Financial openness matters, Journal of International Economics, 91(2), 235-251. DOI: 10.1016/j.jinteco.2013.07.00610.1016/j.jinteco.2013.07.006
- ROBBINS, D. (2003). The impact of trade liberalization upon inequality in developing countries - A review of theory and evidence, ILO Working Paper, No.13, International Labour Organization, Geneva.
- SAWHNEY, B. L. and DIPETRO, W. R. (2006). Stock Market Wealth and Income Inequality, The Journal of Business and Economic Studies, 12(1), 74-77.
- SAWYER, M. (2013). What Is Financialization?, International Journal of Political Economy, 42(4), 5-18. DOI: 10.2753/IJP0891-191642040110.2753/IJP0891-1916420401
- SCHWERDT, G. and TURUNEN, J. (2007). Changes in Human Capital: Implications for Productivity Growth in the Euro Area. Ifo Working Paper, No: 53, December.
- SCHIFF, M. and WANG, Y. (2004). On the Quantity and Quality of Knowledge: The Impact of Openness and Foreign Research and Development on North-North and North-South Technology Spillovers, Policy Research Working Paper Series 3190, The World Bank.
- SÖDERBOM, M. and TEAL, F. (2004). Openness and Human Capital as Sources of Productivity Growth: An Empirical Investigation, Development and Comp Systems 0409031, University Library of Munich, Germany.
- STOCKHAMMER, E. (2004). Financialisation and the slowdown of accumulation, Cambridge Journal of Economics, 28(5), 719-741. DOI: 10.1093/cje/beh03210.1093/cje/beh032
- STOCKHAMMER, E. (2009). Determinants of functional income distribution in OECD countries, Macroeconomic Policy Institute Studies, 5/2009, September.
- STOCKHAMMER, E. (2010). Financialization and the Global Economy, PERI UMASS Working Paper, No. 240, University of Massachusetts, Amherst.
- THOENIG, M. and Verdier, T. (2003). A Theory of Defensive Skill-Biased Innovation and Globalization, American Economic Review, 93(3), 709-728.
- TSAI, P. L. (1995). Foreign direct investment and income inequality: Further evidence, World Development, 23(3), 469-483. DOI: 10.1016/0305-750X(95)00136-Z10.1016/0305-750X(95)00136-Z
- VERHOOGEN, E. A. (2008). Trade, Quality Upgrading, and Wage Inequality in the Mexican Manufacturing Sector, The Quarterly Journal of Economics, 123(2), 489-530. DOI: 10.1162/qjec.2008.123.2.48910.1162/qjec.2008.123.2.489
- WILLIAMS, K. (2000). From shareholder value to present-day capitalism, Economy and Society, 29(1), 1-12. DOI: 10.1080/03085140036053210.1080/030851400360532
- WOOD, A. (1994). North-South Trade, Employment and Inequality: Changing Fortunes in a Skill-Driven World. Oxford: Clarendon Press.
- WOOD, A. (1997). Openness and Wage Inequality in Developing Countries: The Latin American Challenge to East Asian Conventional Wisdom, The World Bank Economic Review, 11(1), 33-57.
- WU, J. Y. and HSU, C. C. (2012). Foreign direct investment and income inequality: Does the relationship vary with absorptive capacity?, Economic Modelling, 29(6), 2183-2189. DOI: 10.1016/j.econmod.2012.06.01310.1016/j.econmod.2012.06.013
- ZHU, S. C. and TREFLER, D. (2005). Trade and inequality in developing countries: a general equilibrium analysis, Journal of International Economics, 65(1), 21-48. DOI: 10.1016/j.jinteco.2003.11.00510.1016/j.jinteco.2003.11.005