Post-keynesian/kaleckian distribution, demand and growth models: Econometric analysis for selected countries

This thesis aims to investigate the impact of income distribution on growth within the framework of Post-Keynesian/Kaleckian theory with models representing both the demand side and the efficiency side. Models related to demand and productivity regime are models developed on the basis of Bhaduri and Marglin (1990). In examining income distribution inequality from the demand side, its effects on the total demand elements (consumption, investment, net exports) are estimated, while in the efficiency analysis, the effects of the increase in profit share on the capacity utilization rate and capital accumulation rate are estimated by including productivity. In this context, while demand regime analyzes define the economy's total demand regimes as profit and wage-driven, productivity regime analyzes define the economy's demand regime as wage, profit and intermediate demand regime. Our study, which is estimated with two separate models within the framework of the demand and efficiency approach, is used for developed and developing countries (Türkiye, Brazil, South Africa, Colombia, Greece, Germany, France) with the ARDL (Autoregressive Distributed Delay Model) and A ARDL (Extended Autoregressive Distributed Delay Model) method. , Italy, England and America) aims to determine demand regimes. In addition, a comparison of the demand regimes obtained for each country according to the demand and efficiency approach is presented with justification. According to the results of the analysis, a common finding was that Türkiye, Greece, Germany, France, Italy, England and America have a wage led demand regime. In addition, in the demand regime approach, the demand regimes of South Africa and Colombia were obtained with profit led, while in the efficiency regime approach, it was obtained that they were in the intermediate demand regime. It has been concluded that Brazil is in a wage led demand regime approach and in an intermediate demand regime in the productivity regime approach. This thesis contributes to the literature as the first empirical study comparing aggregate demand regimes for selected countries with two separate models under the name of demand and efficiency regimes. Keywords: Neo-Kaleckian Models, Income Distribution, Demand Regimes, Productivity.