Prospects for the Growth of Labor Productivity in the Transition to Postindustrial Technological Paradigms

2021 ◽  
pp. 56-59
Author(s):  
Leonid Basovskiy
Keyword(s):  
Labor Productivity ◽  
Productivity Growth ◽  
Developed Countries ◽  
Sixth Order ◽  
Short Term ◽  
Economic Dynamics ◽  
Russian Economy ◽  
Logical Order ◽  
Technological Paradigms

The purpose of the work was to determine the value of labor productivity pro-vided by the fourth, fifth and sixth technological modes. Based on the modeling of Kondratyev's cycles and technological structures in the economic dynamics of devel-oped countries, econometric estimates of labor productivity obtained. It has been estab-lished that during the transition from the fourth to the fifth technological order, the growth of labor productivity in developed countries is ensured from 2.0 to 8.0 times, an average of 4.8 times. In the transition from the fourth to the sixth technological order, the growth of labor productivity in developed countries is ensured from 6 to 17 times, an average of 10.1 times. In the transition from the fifth to the sixth order, the techno-logical order provides an increase in the forgiveness of labor from 1.5 to 3.2 times, on average 2.4 times. In the Russian economy, in the short term, with the transition to the fifth technological order, one can expect productivity growth from 2 to 8 times com-pared to the beginning of the 2000s. In the long term, in the Russian economy during the transition to the sixth technological order, one can expect productivity growth from 6 to 17 times compared to the beginning of the 2000s.

scholarly journals IMPERATIVES OF LABOUR PRODUCTIVITY RISE IN THE RUSSIAN ECONOMY

2019 ◽  
pp. 15-28
Author(s):  
Tatiana Vasilyevna Reshetilo ◽  
Tatiana Vasilyevna Chernova ◽  
Tatiana Sergeyevna Maksimenko ◽  
Irina Nickolaevna Oleynikova
Keyword(s):  
Labor Productivity ◽  
Productivity Growth ◽  
Innovation Management ◽  
Labour Productivity ◽  
Cumulative Effect ◽  
Developed Countries ◽  
Sustainable Growth ◽  
Productivity Index ◽  
Russian Economy ◽  
Priority Direction

Policy of sustainable growth that aims to foster wellbeing of the population and to develop competitiveness of the Russian economy should strive to achieving quality and quantity standards. The labor productivity index takes the strategic point in the system of analytical indicators of assessing the efficiency of economic activity of all economic entities, regardless of the level of hierarchy (enterprise, region, country). The analysis of conditions determining the influence of various factors on productivity growth in the Russian economy, both around the country and in the regions-subjects of the Russian Federation has been given. The main reasons for the decline of the labor productivity index have been identified as following: deindustrialization having a pronounced regional character; low level of organization of production, sales and innovation management; insufficient level of investment attractiveness of Russian companies along with the restricted access to external sources of financing; high cost of capital in the domestic financial market, limiting the potential for technological modernization and innovative growth. The dominating factors of productivity growth in conditions of innovative economy have been allocated: structural, technical and technological, organizational, managerial factors and the factor of developing innovative culture, which create cumulative effect of implementing the project approach to adoption of innovative decisions and innovations. The imperative of increased productivity growth has revealed the need to increase the welfare of the population as the main goal of economic development, which determines the development of a specific mechanism for its achievement as a priority direction of state economic policy. Investment and innovative components of the state policy generally determine labor productivity growth, transition to a new technological structure of the Russian economy and bridging gaps between Russia and developed countries.

The Reproduction Vector of the Russian Economy: 1999-2007

2008 ◽  
pp. 94-109 ◽  
Author(s):  
D. Sorokin
Keyword(s):  
Economic Policy ◽  
Human Capital ◽  
Growth Rates ◽  
Developed Countries ◽  
Gdp Per Capita ◽  
Real Sector ◽  
Russian Economy ◽  
Per Capita ◽  
The Developed Countries

The problem of the Russian economy’s growth rates is considered in the article in the context of Russia’s backwardness regarding GDP per capita in comparison with the developed countries. The author stresses the urgency of modernization of the real sector of the economy and the recovery of the country’s human capital. For reaching these goals short- or mid-term programs are not sufficient. Economic policy needs a long-term (15-20 years) strategy, otherwise Russia will be condemned to economic inertia and multiplying structural disproportions.

scholarly journals A Multi – Speed Europe, and the Peripherality of Poland

e-Finanse ◽  
2019 ◽  
Vol 15 (1) ◽  
pp. 30-44
Author(s):  
Mateusz Mierzejewski ◽  
Karolina Palimąka
Keyword(s):  
European Union ◽  
Business Cycles ◽  
Interest Rates ◽  
Inflation Rate ◽  
Developed Countries ◽  
The European Union ◽  
Short Term ◽  
Macroeconomic Indicators ◽  
Polish Economy

AbstractIn recent years, research on the synchronization of business cycles in economies has been undertaken more than once. This is a desirable phenomenon especially for the European Union. The aim of the article is to verify selected macroeconomic indicators that characterize the economies of countries belonging to the European Union in relation to Poland, thus presenting convergence of dynamic cycles of changes in socio-economic sphere indicators: inflation rate, unemployment rate, short-term interest rates, and GDP. For this purpose, a cross-spectral analysis was used which allows us to show the occurring fluctuations of different lengths, as well as to compare the strength of the relation of changes between selected indicators. According to the conducted analyses, it was noted that the Polish economy (in the perspective of long-term changes) is a determinant of changes for highly developed countries.

Methodology to Identify Opportunities for Development-Oriented Quality Innovation

2014 ◽  
pp. 73-93
Author(s):  
Clovis Freire
Keyword(s):  
Developed Countries ◽  
Business Sector ◽  
Least Developed Countries ◽  
Short Term ◽  
Complex Products ◽  
Global Demand ◽  
Developmental Gains

This chapter considers the broader developmental impact of quality innovation as a process that creates novelty that satisfies not only the short-term profit of firms but also the long-term developmental gains of the society at large. Development is associated with the production of an expanding range of more complex products, which ultimately are the result of innovation. In the context of development-oriented quality innovation, the question is how governments and business sector could foster the emergence of more complex products given existing productive capacities and the incentives created by domestic and global demand. This chapter presents a methodology to identify such opportunities for development-oriented quality innovation and illustrate its application in the context of the least developed countries.

scholarly journals The Effect Of Cross-Border And Domestic Acquisitions On Shareholder Wealth: Evidence From Brics Acquirers

2014 ◽  
Vol 8 (4) ◽  
pp. 34-45 ◽  
Author(s):  
Svetlana Grigorieva ◽  
R. Morkovin
Keyword(s):  
Firm Value ◽  
Developed Countries ◽  
Shareholder Wealth ◽  
Wealth Effects ◽  
Risk Level ◽  
Short Term ◽  
Cross Border ◽  
Long Term Performance ◽  
Term Performance

Svetlana A. Grigorieva National Research University The Higher School of Economics [email protected] The topic devoted to cross-border M&A performance has received wide attention in academic literature.Most existing studies examine wealth effects of international M&As in developed countries. Wecontribute to existing research by examining the market reaction to the announcements of M&As initiatedby companies from BRICS countries over 2000–2012. We assess the long-term performance ofM&A deals along with the short-term one and provide a copmarative analysis of company wealth gainsin cross-border and domestic M&As. Based on the sample of 117 cross-border deals and 247 domesticM&As we find that the stock market reacts favorably and statistically significant to the announcementsof domestic deals in the short run. Returns to foreign acquirer shareholders are also positive and statisticallysignificant. Comparing the effects of M&As on firm value in the short term for foreign anddomestic acquisitions we reveal that the latter outperform the cross-border M&As. Our analysis basedon the buy-and-hold abnormal return method shows the opposite result. We also find that the crossborderM&A deals increase the downside risk level of acquirers in the long term. According to ouranalysis, the key determinants of short- and long-term performance of M&A deals are the acquirer’sFCFF, percentage change in the acquiring country’s exchange rate against the target country currencyduring the acquisition year, and the level of international diversification of acquirers.

scholarly journals Does debt predict growth? An empirical analysis of the relationship between total debt and economic output

2015 ◽  
Vol 4 (2) ◽  
pp. 79 ◽  
Author(s):  
Willem Vanlaer ◽  
Wim Marneffe ◽  
Lode Vereeck ◽  
Johan Vanovertveldt
Keyword(s):  
Economic Growth ◽  
Global Financial Crisis ◽  
Developed Countries ◽  
Short Term ◽  
Debt Accumulation ◽  
Economic Output ◽  
Total Level ◽  
Private Credit ◽  
The Impact

Although the recent global financial crisis has stimulated a vast amount of research on the impact of public debt on economic growth and also increasingly on the role of private credit, the total levels of indebtedness of an economy have largely been ignored. This paper studies the impact of the total level of and increases in debt-to-GDP on economic growth for 26 developed countries in the short, medium and longer term. We analyse whether we can predict the future level of growth, simply by looking at the total level of debt, or increases in that debt level. We find that there is a negative correlation between high levels of debt and short term economic growth, but that this effect tapers in the medium and long term. Similarly, we find that rapid debt accumulation is negatively related to economic growth over the short term, the impact is less pronounced over the medium term and is non-existent over the long term.

scholarly journals Research on the Impact of International Oil Prices on the Economy of Russia

2020 ◽  
Vol 214 ◽  
pp. 03006
Author(s):  
Jiuxia Wu
Keyword(s):  
Economic Growth ◽  
Resource Curse ◽  
Oil Prices ◽  
Oil Price ◽  
Short Term ◽  
Russian Economy ◽  
Income Determination ◽  
The Impact ◽  
The Relationship

In the process of Russian economic development, the oil industry is one of the important pillar industries. More than 50% of the total revenue of the Russian government comes from the oil and gas industry. Oil and oil products exports account for about 56.9% of Russia’s total export[1]. So Russia’s economy is inextricably linked to oil prices. Rosneft’s role in budgetary revenue sources is growing. In the development of the world economy, the change of international oil price affects the development of the Russian economy. This paper reviews the relevant theories about the relationship between oil price and Russia’s economic growth. Besides, the short-term and long-term effects of oil price fluctuation on Russian economy are analyzed with Keynes’s income determination theory and “resource Curse” theory[2] respectively. In addition, the granger causality test is used to analyze the relationship between the fluctuation of oil price and the change of Russian GDP. The following conclusions are drawn from the analysis. Firstly, oil price rise is beneficial to Russian economic growth in the short term, but will hinder Russia’s economic long-term development. Secondly, the fluctuation of oil price is the granger cause of the change of Russian GDP. However, the change of Russian GDP is not the granger cause of the fluctuation of oil price.

Labor productivity in the non-resource sectors of the Russian economy: What determines firm-level growth?

2021 ◽  
pp. 31-67
Author(s):  
Yu. V. Simachev ◽  
M. G. Kuzyk ◽  
A. A. Fedyunina ◽  
A. A. Zaytsev ◽  
M. A. Yurevich
Keyword(s):  
Human Capital ◽  
Labor Productivity ◽  
Productivity Growth ◽  
Government Support ◽  
Competitive Environment ◽  
Firm Level ◽  
Investment Activity ◽  
Process Innovations ◽  
Russian Economy ◽  
High Level

The study discusses underlying factors of labor productivity in firms of basic non-resource industries of the Russian economy and considers the role of innovation and investment activity, human capital development, competitive environment and government support. The data is based on the results of a survey of managers of 713 companies in basic non-resource industries (manufacturing, agriculture, transport, construction). We find high level of divergence of firm productivity at the industry level. We show that higher level of productivity is accompanied with investments in human capital, in fixed assets, as well as the use of digital technologies, but we do not find that higher productivity is accompanied by innovations and expenditures on research and development. We show that productivity growth is combined not only with investment, but also with innovative activity (process innovations) and R&D expenditures. The driver of productivity growth is the private sector: the increase in productivity is driven by firms serving the demand of private medium and large companies. Competitive environment is another factor: moderate competition with import (which acts as a stimulus for innovations of Russian companies) is a condition for the productivity growth.

Understanding the Use of Long-Term Finance in Developing Countries

2018 ◽  
Author(s):  
María Soledad Martinez Pería ◽  
Sergio L. Schmukler
Keyword(s):  
Developing Countries ◽  
Capital Markets ◽  
Institutional Investors ◽  
Developed Countries ◽  
Financial Intermediaries ◽  
Short Term ◽  
Foreign Investors ◽  
Short And Long Term ◽  
Asset Managers

This chapter reviews recent evidence on the use of long-term finance in developing countries (relative to developed ones) to try to identify where short- and long-term financing occurs, and what role different financial intermediaries and markets play in extending this type of financing. Although banks are the most important providers of credit, they do not seem to offer long-term financing. In fact, loans in developing countries have significantly shorter maturities than those in developed countries. Capital markets have become increasingly sizable since the 1990s and can provide financing at fairly long terms. But just a few large firms use these markets. Only some institutional investors provide funding at long-term maturities. Incentives for asset managers are tilted toward the short term due to constant monitoring. Instead, asset-liability managers have a longer-term horizon, as foreign investors in developing countries do. Governments might help expand long-term financing, although with limited policy tools.

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