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Wage share and economic growth in Latin America, 1950-2011

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  • Alarco Tosoni, Germán

Abstract

This article builds series of wage shares in gross domestic product (GDP) for 15 Latin American economies individually and as a group for the period 1950-2010. Using different methodologies, it is established that wage share is non-linear and has undergone two major cycles. The article discusses various authors, especially classic and post-Keynesian thinkers, who have explored the relationship between wage share in GDP and economic activity. It is also shown that the post-Keynesian approach is relevant in explaining that the main variables determining real gdp variations include wage share, gross capital formation and exports of goods and services. However, the contribution of wage share to real output growth has declined from the 1980s onwards.

Suggested Citation

  • Alarco Tosoni, Germán, 2014. "Wage share and economic growth in Latin America, 1950-2011," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    • Handle: RePEc:ecr:col070:37418
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    File URL: http://repositorio.cepal.org/handle/11362/37418
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    1. Nicholas Kaldor, 1955. "Alternative Theories of Distribution," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 23(2), pages 83-100.
    2. Frankema, Ewout, 2010. "Reconstructing labor income shares in Argentina, Brazil and Mexico, 1870-2000," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 28(2), pages 343-374, September.
    3. Emmanuel Saez, 2012. "Striking it Richer: The Evolution of Top Incomes in the United States (Updated with 2009 and 2010 estimates)," Technical Notes 201202, World Inequality Lab.
    4. Ocampo, José Antonio, 2004. "La América Latina y la economía mundial en el largo siglo XX," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(284), pages 725-786, octubre-d.
    5. Esteban Perez Caldentey & Matias Vernengo, 2013. "Wage and Profit-led Growth: The Limits to Neo-Kaleckian Models and a Kaldorian Proposal," Economics Working Paper Archive wp_775, Levy Economics Institute.
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    Cited by:

    1. Ms. Izabela Karpowicz & Mr. Fabian Lipinsky & Jongho Park, 2016. "A Closer Look at Sectoral Financial Linkages in Brazil I: Corporations’ Financial Statements," IMF Working Papers 2016/045, International Monetary Fund.
    2. Douglas Alencar & Frederico G. Jayme Jr & Gustavo Britto, 2021. "A post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries," PSL Quarterly Review, Economia civile, vol. 74(297), pages 127-146.
    3. D., Ivan, 2017. "Stability of the labour shares: evidence from OECD economies," MPRA Paper 79822, University Library of Munich, Germany.

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