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    Democracy and the Labor Share of Income: A Cross-Country Analysis

    Guerriero, Marta | January 2019
    Abstract
    Summary statistics on the labor share of income show that between-country variation is much greater than within-country variation: functional income distribution is determined by factors which change substantially across countries but are persistent over time. This article attempts to shed some light on the long-run and political economy determinants of the labor income share. We revisit and extend previous empirical research on democratic political institutions and the labor share using a dataset of 112 countries over the period 1970-2015. Our empirical analysis shows that democracy allows workers to appropriate a higher share of national income. The evidence is robust to different indices of democracy and different periods of time, and after performing instrumental variable estimation. These results are particularly relevant today, in light of the recent global decline in the labor income share and current crisis of democracy.
    Citation
    Guerriero, Marta. 2019. Democracy and the Labor Share of Income: A Cross-Country Analysis. © Asian Development Bank Institute. http://hdl.handle.net/11540/9623.
    Keywords
    Economic Crisis
    Economic Efficiency
    Economic Policies
    Regional Economic Development
    Job Evaluation
    Evaluation
    Macroeconomic
    Macroeconomic Analysis
    Performance Evaluation
    Impact Evaluation
    Economic Welfare
    Economic Incentives
    Economic Efficiency
    Economies in transition
    Economic agreements
    Social condition
    Economic dependence
    Economic assistance
    Crisis
    Unemployment
    Economic cooperation
    Gross domestic product
    Employment
    Economic forecast
    Economic indicators
    Growth models
    Gross domestic product
    Macroeconomics
    Economic forecast
    Financial crisis
    Labor economics
    Regional economics
    Turnover
    Economic survey
    Job analysis
    Labor turnover
    International relief
    Exports
    Economic development projects
    Economic policy
    Economic forecasting
    Wages and labor productivity
    Labor economics
    Regional economics
    Turnover
    Economic survey
    Efficiency wage theory
    Income Distribution
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    Citable URI
    http://hdl.handle.net/11540/9623
    Metadata
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    adbi-wp919.pdf (550.7Kb)
    Author
    Guerriero, Marta
    Theme
    Economics
    Development
     
    Copyright 2016-2020 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2020 Asian Development Bank Institute, except as explicitly marked otherwise