Missing Links in the Inclusive Growth Debate: Functional Income Distribution and Labour Market Institutions
| Autor: | Maarten Keune, Ignacio Álvarez, Jesús Cruces, Jorge Uxó |
|---|---|
| Přispěvatelé: | AIAS (FdR) |
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Organizational Behavior and Human Resource Management
Labour economics Inequality Strategy and Management media_common.quotation_subject Inclusive growth Collective bargaining Economic inequality Income distribution Management of Technology and Innovation Economics Wage share Developed country media_common |
| Zdroj: | International Labour Review, 160(3), 337-362. Wiley-Blackwell |
| ISSN: | 1564-913X 0020-7780 |
| DOI: | 10.1111/ilr.12203 |
| Popis: | The aim of this article is to discuss the ‘inclusive growth’ proposals made by the IMF, the OECD and the EU, and to examine to what extent these proposals are consistent with the objective to be achieved. To do this, we examine the importance of two ‘missing links’ commonly overlooked by these institutions when promoting ‘inclusive growth’: functional income distribution and labor market institutions. Using a panel of 42 advanced countries for the period 1990–2018, we estimate an econometric model and we obtain two relevant results. First, functional income distribution has an important influence on income inequality. Second, collective bargaining coverage plays a significant role in explaining increases in the wage share and reductions in income inequality. Consequently, these two ‘missing links’ must be fully integrated into the policy debate of international organizations if ‘inclusive growth’ is to be successfully promoted. |
| Databáze: | OpenAIRE |
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