지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
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Recent theoretical and empirical analyses have further developed Kaldor’s concept of ‘cumulative causation’. They formalise two-way routes between labour productivity growth and demand growth: the ‘demand regime’ and ‘productivity regime’. In this paper, to analyse the growth regime in the United States since the 1990s, we formulate the demand regime by explicitly taking into account capital accumulation. Using a cumulative causation model with two sectors that produce consumer goods and investment goods respectively, we examine the structure of the finance-led growth regime and the causes of the structural crisis in the United States. According to our analysis, huge foreign capital inflows,financial innovation, strong-dollar policies, and the like have substantially increased the sensitivity of asset prices in the real economy, and they did not bring about a virtuous cycle therein. In the 2000s, the demand regime of investment goods shifted leftwards, compared to its position of in the 1990s. The slowdown in real economic growth caused a sharp fall in asset prices when they were strongly sensitive to the real economy. Thus, the structural crisis emerged.
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참고문헌 (24)
참고문헌 신청
Boyer, R / 1988 / Formalizing Growth Regimes’, In Technical Change and Economic Theory / Pinter Publishers
Boyer, R / 2000 / Is a Finance-led Growth Regime a Viable Alternative to Fordism? A Preliminary Analysis / Economy and Society 29 (1) : 111 ~ 145
Brenner, R / 2009 / What is Good for Goldman Sachs is Good for America: The Origins of the Current Crisis, In The text appearedas the Prologue to the Spanish translation of Economics of
Brenner, R. / 2002 / The Boom and the Bubble: The US in the World Economy / Verso
Dixon, R / 1975 / A Model of Regional Growth-Rate Differences on Kaldorian Line / Oxford Economic Papers 27 : 201 ~ 214
Boyer, R / 2000 / Is a Finance-led Growth Regime a Viable Alternative to Fordism? A Preliminary Analysis / Economy and Society 29 (1) : 111 ~ 145
Brenner, R / 2009 / What is Good for Goldman Sachs is Good for America: The Origins of the Current Crisis, In The text appearedas the Prologue to the Spanish translation of Economics of
Brenner, R. / 2002 / The Boom and the Bubble: The US in the World Economy / Verso
Dixon, R / 1975 / A Model of Regional Growth-Rate Differences on Kaldorian Line / Oxford Economic Papers 27 : 201 ~ 214
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