Distribución funcional del ingreso y régimen de crecimiento en México y España

Cuadernos de economía ( Santafé de Bogotá )

ISSN: 0121-4772

Year of publication: 2018

Volume: 37

Issue: 73

Pages: 121-142

Type: Article

DOI: 10.15446/CUAD.ECON.V37N73.58811 DIALNET GOOGLE SCHOLAR lock_openDialnet editor

More publications in: Cuadernos de economía ( Santafé de Bogotá )


The purpose of neoliberal reforms was to stimulate private investment and exports, and, therefore, generate higher growth and employment. However, these changes have generated a significant drop in the share of wages in income in both developed and developing countries since the late 70s. This study was undertaken using post-Keynesian theory; however, it made changes to investment and exportation functions so that the functional distribution has a greater weight in the estimations. We found that the wage moderation policies have adversely influenced the inner components of demand; while Spain is wage-led, Mexico is profit-led.

Bibliographic References

  • Banco Mundial. (2016). Indicadores del desarrollo mundial (México). [Base de datos], Disponible en http://www.bancomundial.org/.
  • Bhaduri, A., & Marglin, S. (1990). Unemployment and the real wage: The economic basis for contesting political ideologies. Cambridge Journal of Economics, 14(4), 375-93.
  • Blecker, R. (2015). Wage-led versus profit-led regimes: The long and the short of it. Documento prresentado en la Eastern Economic Association, Nueva York, NY, 1-44. Disponible en http://nw08.american.edu/~blecker/research/Blecker_LRvsSR_EEA2015.pdf.
  • Bowles, S., & Boyer, R. (1995). Wages, aggregate demand, and employment in an open economy and empirical investigation. En G. Epstein, & H. Gintis (Ed.), Macroeconomic policy after the conservative era (pp. 143-171). Cambridge, UK: Cambridge University Press.
  • European Commission. (2016). Economic and Financial Affairs. AMECO [Base de datos]. Disponible en http://ec.europa.eu/economy_finance/ameco/user/serie/SelectSerie.cfm
  • Fondo Monetario Internacional (FMI). IMF [Base de datos]. Disponible en http://www.imf.org/external/data.htm
  • Kaldor, N. (1957). A model of economic growth. Economic Journal, 67, (268), 591-624.
  • Hein, E., & Vogel L. (2008). Distribution and growth reconsidered empirical results for six OECD countries. Cambridge Journal of Economics , 32(3), 479-511.
  • Onaran, Ö, & Galanis, G. (2012). Is aggregate demand wage-led or profit-led? National and global effects. Conditions of Work and Employment Series. ILO Ginebra, 40, 1-65.
  • Samaniego, N. (2015). La participación del trabajo en el ingreso nacional: el regreso a un tema olvidado. Economía UNAM, 11(33), 52-77.
  • Solow, R. (1956). A Contribution to the theory of economic growth. The Quarterly Journal of Economics, 70( 1), 65-94.
  • Stockhammer, E., & Ederer, S. (2008). Demand effects of the falling wage share in Austria. Empirica, 35(5), 481-502.
  • Stockhammer, E., Hein, E., & Grafl, L. (2011). Globalization and the effects of changes in the functional income distribution in aggregate demand in Germany. International review of Applied Economics, 25(1), 1-2.
  • Stockhammer, E., Onaran, Ö., & Ederer, S. (2009). Functional income distribution and aggregate demand in the Euro area. Cambridge Journal of Economics , 33(1), 139-59.
  • Vargas, G., & Luna, A. (2014). Slow growth in the Mexican economy. Journal of Post Keynesian Economics, 37(1), 115-33.