Economic and political determinants of the South African labour share, 1971–2019

Gouzoulis, Giorgos, Constantine, Collin and Ajefu, Joseph (2021) Economic and political determinants of the South African labour share, 1971–2019. Economic and Industrial Democracy. 0143831X2110632. ISSN 0143-831X (In Press)

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Official URL: https://doi.org/10.1177/0143831x211063230

Abstract

This study examines the drivers of the steady decline in South Africa’s private sector labour share between 1971 and 2019. The focus on South Africa is instructive as its distributional contestation is bounded in a matrix of racial conflict. Crucial reforms on trade, finance and welfare were undertaken since 1994, but the study finds little evidence that the extension of the franchise promoted egalitarianism, since white economic elites invested in de facto political power. This study employs an Unrestricted Error Correction Model to estimate the drivers of the private sector labour share, and the findings suggest that globalisation, financialisation and public spending have decreased the labour share, while the effects of education have been positive but insufficient to halt the decline.

Item Type: Article
Uncontrolled Keywords: Democratisation, employment, relationship, financialisation, globalisation
Subjects: L200 Politics
N300 Finance
N900 Others in Business and Administrative studies
Department: Faculties > Business and Law > Newcastle Business School > Accounting and Finance
Depositing User: Rachel Branson
Date Deposited: 07 Jan 2022 15:46
Last Modified: 07 Jan 2022 16:00
URI: http://nrl.northumbria.ac.uk/id/eprint/48102

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