Upcoming trends of labor productivity growth in the EAEU countries
https://doi.org/10.28995/2073-6304-2022-3-101-115
Abstract
The paper presents a critical analysis of international experience in assessing the labor productivity indicators and characterizes existing approaches in modern practice. It defines that labor productivity is the key indicator for evaluating the efficiency of economy functioning, reflecting the development degree of its production. It also proves statistically that high labor productivity ensures the economic growth of the country and the level of population’s life quality. And all the measures aimed at the labor productivity increasing are important part of the national economic development policy. A comparative analysis of the productivity level of the EAEU countries was carried out being based on different approaches. The main issues concerned with causes of a relatively low level of labor productivity in the EAEU member countries are highlighted, namely: depreciation of fixed assets; insufficient level of investment in fixed assets; low absorption of innovations; shortage of highly qualified personnel; unfavorable demographic trends, etc. According to the highlighted issues, the main vectors of long-term development targeted at the labor productivity growth are identified: human capital development, technological breakthrough, the improvement of institutions and regional development in the context of the integration of the EAEU countries.
About the Authors
N. A. Navrotskaya
Saint Petersburg University
Russian Federation
Russian Federation
Natal’ya A. Navrotskaya, Dr. of Sci. (Economics), associate professor
bld. 7/9, Universitetskaya Embankment, Saint Petersburg 199034
N. Yu. Sopilko
Russian State University for the Humanities
Russian Federation
Russian Federation
Natal’ya Yu. Sopilko, Dr. of Sci. (Economics), associate professor
bld. 6, Miusskaya Square, Moscow 125047
O. Yu. Myasnikova
RUDN University
Russian Federation
Russian Federation
Ol’ga Yu. Myasnikova, Cand. of Sci. (Economics), associate professor
bld. 6, Miklukho-Maklay Street, Moscow 117198
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Review
For citations:
Navrotskaya N.A., Sopilko N.Yu., Myasnikova O.Yu. Upcoming trends of labor productivity growth in the EAEU countries. RSUH/RGGU BULLETIN. Series Economics. Management. Law. 2022;(3):101-115. (In Russ.) https://doi.org/10.28995/2073-6304-2022-3-101-115
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