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This paper contributes to the ongoing growth models (GMs) debate by investigating the growth drivers of emerging capitalist economies (ECEs) in the periods before (2000-2008) and after (2009-2019) the Global Financial Crisis (GFC). By drawing mostly on post-Keynesian economics, six growth...
Persistent link: https://www.econbiz.de/10012653836
The re-distribution of income from labour to capital, from workers to top-managers, and from low income households to the rich has been an important feature of financedominated capitalism since the early 1980s. After the Great Financial Crisis and the Great Recession in 2007-9, the recovery has...
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Recently, several interesting attempts have been made at connecting comparative political economy (CPE) approaches, as the Varieties of Capitalism (VoC) theory, with post-Keynesian (PK) research on different demand-led growth regimes in modern capitalism, and for the period of finance-dominated...
Persistent link: https://www.econbiz.de/10011959893
The growth model perspective has provided avenues for bridging comparative and international political economy, mainly regarding the Global Financial Crisis and developments within the eurozone. This article aims to contribute to this endeavor by highlighting the joint effects of capital flows...
Persistent link: https://www.econbiz.de/10014516140
the model converges to an equilibrium where worker households are accumulating debt and not wealth. We also show that when … able to service their debt at the point of full long run equilibrium. We then conclude that this household debt …
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