Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14279/31258
Title: Determinants of profitability in the economy of the Republic of Cyprus based on a classical Marxist approach
Authors: Kosmas, Petros C. 
Ioakimoglou, Elias 
Major Field of Science: Social Sciences
Field Category: Economics and Business
Keywords: Profit rate;Labour productivity;Capital productivity;Wages;Republic of Cyprus
Issue Date: 6-Feb-2024
Source: International Review of Applied Economics, 2023, vol. 37, no. 6, pp. 767-780
Volume: 37
Issue: 6
Start page: 767
End page: 780
Journal: International Review of Applied Economics 
Abstract: This paper was designed to explore the factors influencing profitability within the business sector using a methodological framework rooted in Marx’s concept of the profit rate. By addressing the complexities of profitability changes, this study investigated the factors that drive profitability within the business sector of the Republic of Cyprus for the years 2006–2022, including: a period of severe structural crisis and change (2013–2014), a period of recovery (2015–2022) based on the outcomes of the crisis, and a period (2006–2012) against which shifts can be contrasted. The findings of this empirical study suggest that a substantial portion of the increase in profitability since 2015 is due to the reduction in the value of the labour power during the crisis years (2013–2014) and following the COVID-19 pandemic period (2021–2022).
URI: https://hdl.handle.net/20.500.14279/31258
ISSN: 14653486
DOI: 10.1080/02692171.2023.2281458
Rights: © 2023 Informa UK Limited
Type: Article
Affiliation : Cyprus International University 
Publication Type: Peer Reviewed
Appears in Collections:Άρθρα/Articles

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