During the past two decades, there has been a shift of significance from the real to the financial sector. This development is often referred to as "financialization". Most industrial countries have experienced a decline in the share of labor income.Based on a review of empirics and literature,...

Since the 1980s, the share of wages in national income declined almost all over the world. This paper provides an overview of the evolution of labour's share in selected OECD countries. Several theoretical approaches explaining functional income distribution are summarised. In light of the...

In diesem Artikel diskutieren wir die Notwendigkeit von Industriepolitik und die Rolle der Entwicklungsbanken für wirtschaftliche Entwicklung. Der Aufholprozess der Länder des globalen Südens auf das Produktivitätsniveau und den Lebensstandard des globalen Nordens ist die Ausnahme. Dafür...

Over the past decades, the concept of global value chains (GVCs) has become an important analytical landmark within different strands of social sciences for making sense of the increasingly spatially and organizationally fragmented international system of production. The question arises what...

In the last decades in particular, national governments as well as development agencies and international organizations have increasingly turned to participation in global value chains (GVCs) as a development strategy. However, whether the positive development effects of integration are large...

This chapter serves to develop a classification of economic and social upgrading trajectories according to the theoretical approach introduced in the first chapter of this book, and to present empirical results according to this framework. Based on this classification and theoretical debate...

The COVID-19 crisis is unique in many respects, and as the IMF (World economic outlook April 2021. International Monetary Fund, p. 43, 2021a) puts it: "a crisis like no other." A global economic contraction occurred that was unprecedented in its speed and depth. Support packages were put...

This paper investigates the impact of financialization and changes in corporate governance on income inequality for a sample of 13 OECD countries between 1980 and 2010. Though financialization and changes in corporate governance have been widespread, there has been little empirical analysis of...