KARABARBOUNIS & NEIMAN (2014) indicate that the labour share in gross value added of the business sector has decreased significantly in 42 countries since the early 1980s and that larger labour share declines occurred in countries with larger reduction in their relative prices of investment goods. Efficiency gains in sectors producing capital-goods are mainly due to technological progress in ICTs. As a result, the long run decrease in labour share in global income stems from digital capital accumulation which drives a shift of labour towards capital at the firm level. This is consistent with the view expressed by VAN ARK et al. (2004) that "worldwide technological development is strongly biased towards capital