“…Thus far, the main focus of empirical studies based on the Bhaduri-Marglin model has been on seven countries: Austria, France, Germany, Japan, the Netherlands, the U.K. and the U.S., see Bowles and Boyer (1995), Stockhammer and Onaran (2004), Naastepad (2006), Naastepad and Storm (2006/7), 11 Ederer and Stockhammer (2007), Stockhammer and Ederer (2008), Hein and Vogel (2008, 2009), Onaran et al (2011 From these studies, the broad picture emerges that the "demand regime in large and mediumsized open economies, as in Germany, France, the UK and the USA, tends to be wage-led,…”