Privatisation, reduction in entry barriers and within-industry decline of the labour share

Keyword(s):  
2015 ◽  
Vol 07 (04) ◽  
pp. 52-64
Author(s):  
Chien-Hsun CHEN

The benefits deriving from rapid economic growth have chiefly accrued to capital returns. Consequently, the decline in the share of Chinese gross domestic product (GDP) accounted for by labour income has been most pronounced. To sustain growth, China will have to ensure robust consumption. Increasing the labour share in GDP and hence promoting domestic consumption will play a decisive role in rebalancing China’s economy.


1981 ◽  
Vol 96 (3) ◽  
pp. 405 ◽  
Author(s):  
William J. Baumol ◽  
Robert D. Willig

2012 ◽  
Vol 11 (3) ◽  
pp. 303-319 ◽  
Author(s):  
Jan Hogrefe ◽  
Marcus Kappler
Keyword(s):  

Significance These are: artificial intelligence, semiconductors, quantum computing, genetics, biotechnology, neuroscience and aerospace. Impacts It is not always useful to view technological competition between China and the West as a ‘race’. China will likely burn significant capital just to achieve parity with advanced countries, and may never achieve it. Low margins will encourage protectionism and import substitution, with an impact on efficiency and productivity.


2021 ◽  
Vol 21 (1) ◽  
pp. 128-147
Author(s):  
Aleksey Zazdravnykh

The article analyzes the practical aspects of the functioning of some barriers to entry in the era of digital transformation of industry markets. It is noted that under the influence of digitalization processes, both positive changes in the mechanism of market operation are recorded, as well as a number of negative circumstances that have become a serious challenge for antitrust agencies. Control of big data, initial investment in digital infrastructure, and broad technological capabilities of digital blocking of users, against the background of powerful network effects and pronounced economies of scale, carry the potential for significant growth in the market power of individual firms. The article substantiates that such trends theoretically pose a significant threat to competition, and can form new types of entry barriers. At the same time, practical arguments are presented that indicate the ambiguity of this position.


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