IDEAS home Printed from https://ideas.repec.org/a/oup/indcch/v23y2014i4p1059-1085..html
   My bibliography  Save this article

Accounting for productive investment and value creation

Author

Listed:
  • Mariana Mazzucato
  • Alan Shipman

Abstract

The increased size and influence of financial institutions and markets has widened the scope for divergence between value-creation and the value-added measured by national accounts. This paper uses a re-assessment of the concept of value, showing how its creation can be separated from income flows, to examine its potential under- or over-representation in conventional GDP. A revived (and revised) value theory offers new insight into the impact on measured income and growth of structural change (including financial sector growth and offshore outsourcing), and of recent national-accounting reforms including the capitalization of R&D spending.

Suggested Citation

  • Mariana Mazzucato & Alan Shipman, 2014. "Accounting for productive investment and value creation," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 23(4), pages 1059-1085.
    • Handle: RePEc:oup:indcch:v:23:y:2014:i:4:p:1059-1085.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/icc/dtt037
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marwil J. Dávila-Fernández & Lionello F. Punzo, 2018. "Some New Insights on Financialisation and Income Inequality," Department of Economics University of Siena 792, Department of Economics, University of Siena.
    2. Athena Roumboutsos & Aristeidis Pantelias, 2015. "Allocating Revenue Risk in Transport Infrastructure Public Private Partnership Projects: How it Matters," Transport Reviews, Taylor & Francis Journals, vol. 35(2), pages 183-203, March.
    3. George Maier & Kate R. Gilchrist, 2022. "Women who host: An intersectional critique of rentier capitalism on AirBnB," Gender, Work and Organization, Wiley Blackwell, vol. 29(3), pages 817-829, May.
    4. Tilsted, Joachim Peter & Bjørn, Anders & Majeau-Bettez, Guillaume & Lund, Jens Friis, 2021. "Accounting matters: Revisiting claims of decoupling and genuine green growth in Nordic countries," Ecological Economics, Elsevier, vol. 187(C).
    5. Silvia Solimene & Daniela Coluccia & Alessandro Bernardo, 2023. "Environmental Impact of Different Business Models: An LCA Study of Fresh Tomato Production in Italy," Sustainability, MDPI, vol. 15(13), pages 1-17, June.
    6. Gürel, Burak & Kozluca, Mina, 2022. "Chinese investment in Turkey: the Belt and Road Initiative, rising expectations and ground realities," LSE Research Online Documents on Economics 113841, London School of Economics and Political Science, LSE Library.
    7. Gilchrist, Kate & Maier, George, 2022. "Women who host: an intersectional critique of rentier capitalism on AirBnB," LSE Research Online Documents on Economics 113677, London School of Economics and Political Science, LSE Library.
    8. constantine, collin, 2014. "Rentier Developmentalism, Servicization and DInRT Economies," MPRA Paper 60331, University Library of Munich, Germany.
    9. Marwil J. Dávila-Fernández & Lionello F. Punzo, 2018. "A Multi-Sectoral Approach to Financialisation," Department of Economics University of Siena 794, Department of Economics, University of Siena.

    More about this item

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:indcch:v:23:y:2014:i:4:p:1059-1085.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/icc .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.