Inicio > Economía marxista > “Differences in Surplus-value Rates between Developed and Underdeveloped Countries”: B. Gloria Martínez González y Alejandro Valle Baeza

“Differences in Surplus-value Rates between Developed and Underdeveloped Countries”: B. Gloria Martínez González y Alejandro Valle Baeza

Previous findings by Martínez have raised an important question, which this work contributes to solve: if over time a positive correspondence between productivity and surplus-value rate can be observed ¿why then do underdeveloped countries show higher surplus-value rates than developed countries? Based on econometric analysis, cluster analysis and fixed effect panel analysis evidence is supporting that groups of less productive countries have higher or at least not lower surplus-value rates than those corresponding to more productive groups of countries. Nevertheless, it is also shown that over time or within the groups there is a correlation between productivity and surplus-value rate. A feasible explanation of such national differences of surplus-value rate is examined considering organic composition of capital. ¿How does importing means of production affect such a composition and hence surplus-value rate in underdeveloped countries? An account is examined based on value theory and such composition is estimated in the case that means of production are imported.

Keywords: Exploitation, value, surplus, productivity, organic composition
of capital. 3)4 )5)

1. Introduction
Previous findings by Martínez and other authors have shown that surplusvalue rate in underdeveloped is higher or at least similar to that in developed countries. The higher productivity in developed countries should produce a clearly superior surplus-value rate compared to underdeveloped countries: there should be a correspondence between productivity and surplus-value rate. That kind of correspondence exists over time or between productivity and surplus-value rate within blocks of developed and underdeveloped countries but not between blocks. This works is a contribution to the explanation of this inconsistency.
The second section of this work discusses why surplus-value rate should increase over time or be higher in developed countries than in underdeveloped countries. The third and fourth sections examine the empirical evidence of the differences in surplus-value rate between countries with different degrees of productivity. The fifth section presents the empirical evidence found to sustain the explanation of the higher surplus-value rate in underdeveloped countries: value composition of capital is much higher than price composition of capital. Because underdeveloped countries import a great share of their means of production a value should be imputed to them.
So section 5 explains how and why such an imputation is calculated. Value composition measures the difficulty to accumulate and therefore labor force is harder to absorb in underdeveloped countries where a higher surplus-valuerate is thus required and made possible. Finally in the last section conclusions are presented

Differences in Surplus-value Rates between Developed and Underdeveloped Countries

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