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Globalization, creative destruction, and labour share change: evidence on the determinants and mechanisms from longitudinal plant-level data

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  • Petri Böckerman
  • Mika Maliranta

Abstract

The labour share of GDP has declined in recent decades in many leading economies. This paper examines the mechanisms of falling labour share using Finnish manufacturing plant-level data over three decades. Using a useful variant of the decomposition method, we make a distinction between the changes in the average plant and the micro-level restructuring. We show that micro-level restructuring is the link between the declining labour share and increasing productivity, and that increased international trade is a factor underlying those shifts. Copyright 2012 Oxford University Press 2011 All rights reserved, Oxford University Press.

Suggested Citation

  • Petri Böckerman & Mika Maliranta, 2012. "Globalization, creative destruction, and labour share change: evidence on the determinants and mechanisms from longitudinal plant-level data," Oxford Economic Papers, Oxford University Press, vol. 64(2), pages 259-280, April.
    • Handle: RePEc:oup:oxecpp:v:64:y:2012:i:2:p:259-280
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    File URL: http://hdl.handle.net/10.1093/oep/gpr031
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    JEL classification:

    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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