Functional income distribution, capacity utilization, capital accumulation and productivity growth in Turkey: A post‐Kaleckian analysis

Abstract

The role and function of income distribution in economic growth has been discussed more intensively since the financial and economic crisis that burst out more than a decade ago. The neoclassical economic analysis took invariability of the relative shares of labor and capital in national income for

Debt, Wealth, Income Distribution and Demand: A post-Keynesian Empirical Study on Turkiye

“…Our findings are in line with those of Yılmaz (2015), however, Onaran and Galanis (2014) had found the Turkish economy to be wage-led both domestically and overall. Domestic vs. overall economy distinction is not pertinent in other studies on Turkiye (Onaran and Stockhammer, 2005;Bölükoğlu, 2019;Kurt, 2020) and the overall demand regime is found to be wage-led in those.…”

“…While Bölükoğlu (2019) confirmed the prevalence of a wage-led demand regime in Turkiye, Yılmaz's (2015) findings pointed out a profit-led economy. In the literature, the majority of the post-Keynesian empirical studies examined demand regimes, however, Kurt (2020Kurt ( , 2021, based on the theoretical model of Hein and Tarassow (2010) demand and productivity regimes together in Turkiye and the US, respectively. The author found that the demand regime in the former is wage-led, nevertheless taking into account that the productivity regime renders the economy unstable.…”

Türkiye ve Brezilya'da Talep Rejimlerinin Belirlenmesi: Ücret Çekişli mi Yoksa Kâr Çekişli mi: Post-Kaleckiyen Analiz

“…Çalışmanın Türkiye için bulgusu, Kurt (2020)'un Türkiye için yaptığı çalışmanın sonuçlarıyla uyumludur. Kurt (2020) çalışmasında reel döviz kurunun net ihracata etkisinin negatif olduğu ileri sürülmektedir. Kapasite kullanım oranı ile net ihracat arasında Türkiye için uzun dönemde istatistiksel olarak anlamlı bir ilişki elde edilirken, Brezilya için anlamsız bir ilişki elde edilmiştir.…”