Estrin, Saul 
ORCID: 0000-0002-3447-8593, Svejnar, J and Moore, R
(1988)
Market imperfections, labor-management and earnings differentials in a developing economy: theory and evidence from Yugoslavia.
Quarterly Journal of Economics, 103 (3).
pp. 465-479.
ISSN 0033-5533
Abstract
In this paper we evaluate empirically the relative importance of two explanations of Yugoslav interindustry income differentials. One explanation, proposed initially by Vanek and Jovicic [1975], stresses capital market imperfections which permit capital rents to be appropriated as workers' incomes. The second explanation points to labor allocation problems under self-management. We first present a critique of the Vanek-Jovicic original formulation and then respecify the problem to permit simultaneous evaluation of the two schools of thought. Results based on two data sets suggest that labor allocation factors and monopoly power rather than capital rents are the main source of Yugoslav earnings dispersion.
| Item Type: | Article |
|---|---|
| Official URL: | http://qje.oxfordjournals.org/ |
| Additional Information: | © 1988 The President and Fellows of Harvard College and the Massachusetts Institute of Technology |
| Divisions: | Management |
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory |
| JEL classification: | J - Labor and Demographic Economics > J0 - General P - Economic Systems > P2 - Socialist Systems and Transitional Economies > P20 - General |
| Date Deposited: | 18 Aug 2008 14:49 |
| Last Modified: | 13 Sep 2024 20:55 |
| URI: | http://eprints.lse.ac.uk/id/eprint/20502 |
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