IDEAS home Printed from
   My bibliography  Save this article

Globalisation, Accumulation and Inequality – the Case of Germany


  • Kalckreuth Ulf von


  • Ziebarth Gerhard

    () (Deutsche Bundesbank, Economic Research Center, Wilhelm-Epstein-Str. 14, 60431 Frankfurt/M.)


We study the conditions under which in a small open economy the labour share in national income may retain a stable value and the significance of primary savings from labour income is maintained. We conclude that the growth of domestic product must not be lower than the real rate of return on capital weighted by the savings ratio of asset holders. For Germany, we estimate a hurdle rate of growth of about 1.5 % that must be surpassed in the long run just to prevent the labour share from falling indefinitely. The condition has not been met for a number of years, because of chronically sluggish growth and high structural unemployment. We present a dynamic model of economic integration to show that, to a large extent, this pattern is an effect of globalisation. Besides fostering innovation, reinforcing the education system should have priority.

Suggested Citation

  • Kalckreuth Ulf von & Ziebarth Gerhard, 2007. "Globalisation, Accumulation and Inequality – the Case of Germany," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 56(2), pages 231-254, August.
  • Handle: RePEc:lus:zwipol:v:56:y:2007:i:2:p:231-254:n:6

    Download full text from publisher

    File URL:
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.

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

    More about this item


    Access and download statistics


    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:lus:zwipol:v:56:y:2007:i:2:p:231-254:n:6. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Golla). General contact details of provider: .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.