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Productivity puzzle? Financialization, inequality, investment in the UK

Author

Listed:
  • Onaran, Özlem
  • Tori, Daniele

Abstract

According to econometric estimations using firm balance sheets of the publicly listed companies in the UK, in large non-financial corporations (NFCs), investment rate would have been 16% higher without the rise in financial payments, and 41% higher without the increasing financial incomes, and in the small NFCs, investment would have been 35% higher without the rise in financial incomes.

Suggested Citation

  • Onaran, Özlem & Tori, Daniele, 2017. "Productivity puzzle? Financialization, inequality, investment in the UK," Greenwich Papers in Political Economy 16129, University of Greenwich, Greenwich Political Economy Research Centre.
    • Handle: RePEc:gpe:wpaper:16129
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    File URL: http://gala.gre.ac.uk/id/eprint/16129/1/GpercPolicyBrief_PB16_2017_%20Onaran_Tori%20uk.pdf
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    More about this item

    Keywords

    Financialization; Investment; Non-financial sector; Firm data; UK; productivity puzzle;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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