scholarly journals Labour productivity growth slowdown: An effect of economic stagnation rather than its cause?

2017 ◽  
Vol 67 (s1) ◽  
pp. 67-77 ◽  
Author(s):  
Leon Podkaminer
Keyword(s):  
Economic Growth ◽  
Productivity Growth ◽  
Technological Progress ◽  
Labour Productivity ◽  
Output Growth ◽  
Global Level ◽  
Labour Productivity Growth ◽  
Economic Stagnation ◽  
Term Data

This paper reports the results of an econometric examination on the links between labour productivity and output growth for 22 countries (for which long-term data are available). It turns out that, generally, labour productivity does not “cause” output. In more cases, the causation seems to be running in the opposite direction: from output to productivity. This finding, though inconsistent with the “mainstream” ideas on the sources of long-term economic growth, is reminiscent of the classical Kaldor-Verdoorn Law. The progressing slowdown in output growth on the global level, initiated around the mid-1970s (when the process of discarding the earlier economic policy paradigms set in), may have been mirrored by the progressing slowdown in productivity growth (and that despite the hardly disputable acceleration of technological progress).

Analysis of the Labour Productivity Impact on Indicators of Economic Growth at the National, Sub-Federal, and Regional Levels

2021 ◽  
pp. 198-215
Author(s):  
Svetlana A. Samusenko ◽  
Keyword(s):  
Economic Growth ◽  
Productivity Growth ◽  
Labour Productivity ◽  
Federal District ◽  
Krasnoyarsk Krai ◽  
Real Wages ◽  
Labour Productivity Growth ◽  
Per Capita ◽  
Constant Prices

Labour productivity has a predominant impact on economic growth and the rate of postcrisis economic recovery. The increase in labour productivity, in turn, depends on the employed population’s standard of living. A comparative longitude analysis of these indicators’ dynamics reveals the potential for the economic growth of the territory. The historically determined asymmetry in the economic development of Russian regions requires analysis carried out at the national, sub-federal (federal districts), and regional levels. In the study, the author evaluates the dynamics of the per capita gross regional product (GRP), labour productivity, and real wages in constant prices at purchasing power parity for Russia, the Siberian Federal District, and Krasnoyarsk Krai. The results of this analysis allow comparing economic growth and labour productivity growth in Russia and Russian regions with international trends. The author has found that labour productivity per working hour measured in constant prices in Russia, Siberia, and Krasnoyarsk Krai is several times lower than the corresponding indicators of countries leading in productivity and economic growth. The dynamics of per capita GRP and labour productivity, measured both in current and constant prices, is positive. The statistical relationship between labour productivity growth and cyclical processes in the national economy is noted; in the crisis and post-crisis periods, there is outstripping growth in labour productivity due to the mobilization of the workers’ labour potential. The economy of the Siberian Federal District has been characterized by a steady excess of the growth rate of labour productivity over the growth rate of per capita GRP, while in Krasnoyarsk Krai and Russia this trend has manifested since 2014 with the onset of the crisis. This process indicates a change in the mechanisms of economic growth: with the entry into the crisis phase, human labour, as well as its efficiency, becomes the only significant factor in maintaining the stability of national and regional economies. The obtained results also show the depressive impact of a long-term decline in real wages on labour productivity and economic growth during the economic crisis. The structural analysis demonstrates that labour productivity growth has a strong positive effect on economic growth, while the growth of the employment rate has a moderate positive effect. A decline in the share of the working-age population in the demographic structure has a pronounced negative impact on economic growth in the long-term period. The study results can be used in the development of national and regional policies related to stimulating economic growth.

Structural Change and Economic Growth across Major States of India

2018 ◽  
Vol 9 (2) ◽  
pp. 162-182
Author(s):  
Monica Thind ◽  
Lakhwinder Singh
Keyword(s):  
Economic Growth ◽  
Structural Change ◽  
Productivity Growth ◽  
Development Process ◽  
Structural Changes ◽  
Labour Productivity ◽  
High Productivity ◽  
Labour Productivity Growth ◽  
Potential Source ◽  
The Relationship

The structural change in an economy is an important feature of the economic development process. Structural change becomes a potential source of growth in an economy as it induces reallocation of labour from low-productivity to high-productivity sectors, thus leading to fuller and better utilization of overall resources. This article studies the relationship between structural change and growth in 15 major states of India over the 30-year period from 1983–1984 to 2014–2015. The study aims at discovering whether structural changes have contributed to economic growth of these states or otherwise. This is achieved by decomposing the overall labour productivity growth of states into contribution by structural change and within sector change. The results show that in all the states under study structural changes have contributed positively to growth; however, contribution of within sector changes is found to be much more than structural change in all states except Maharashtra.

scholarly journals Influence of farm milk prices in the EU 25 on profitability and production volume indicator

2008 ◽  
Vol 53 (No. 12) ◽  
pp. 545-557
Author(s):  
F. Střeleček ◽  
R. Zdeněk ◽  
J. Lososová
Keyword(s):  
Milk Yield ◽  
Productivity Growth ◽  
Labour Productivity ◽  
Production Volume ◽  
Labour Productivity Growth ◽  
Main Determinants ◽  
The Individual ◽  
Productivity Dynamics ◽  
The Eu

The paper analyses the development of milk prices and effectiveness and economy of holdings included in the particular production category of “411 Milk” and their relations. The influence of prices on profitability, elasticity of production, labour productivity dynamics, effectiveness of long-term assets and resulting cost changes are discussed in particular. Milk profitability was not significantly influenced by different prices in the individual states. The variation of prices in time was more important. The production is supposed to grow with delay. Milk yield (per cow and year) and number of cows per worker are the main determinants of labour productivity growth in the in-kind expression. The influence of prices on labour productivity in monetary expression among individual states is not as important as was supposed.

scholarly journals Demografía, mercado de trabajo y tecnología: El patrón de crecimiento de Cataluña, 1970- 2020

2020 ◽  
Vol 30 (1) ◽  
pp. 365
Author(s):  
Mónica Correa-López ◽  
Ana Cristina Mingorance-Arnáiz
Keyword(s):  
Productivity Growth ◽  
Labour Productivity ◽  
Output Growth ◽  
Potential Growth ◽  
Technological Gap ◽  
Labour Productivity Growth ◽  
Technological Efficiency ◽  
Favourable Evolution ◽  
Market Factors ◽  
Productivity Gains

Over the last forty years, the pattern of long-term economic growth in Catalonia has been characterised by two very distinctive phases. During the period 1970-1992, the source of per capita output growth is found in the extensive labour productivity gains that were the result of technological efficiency improvements.  The period  1993-2010, on the other hand, witnessed a favourable evolution of demographic and labour market factors - more particularly, a strong expansion of labour utilisation - while labour productivity growth slowed down substantially. This paper presents medium-term forecasts of potential growth in Catalonia and suggests that labour productivity growth may underpin an estimated potential growth rate of 2,2%. Yet, the results are conditional upon Catalonia´s effort at closing the technological gap with the U.S.

scholarly journals Prospects of Introducing the System of Personnel Support at Enterprises of the Gas and Oil Complex in the Russian Federation

2020 ◽  
Vol 17 (5) ◽  
pp. 85-95
Author(s):  
E. A. Alpeeva ◽  
E. V. Stotskiy
Keyword(s):  
Productivity Growth ◽  
Technological Progress ◽  
Oil And Gas ◽  
Labour Productivity ◽  
Indirect Costs ◽  
Oil Prices ◽  
Economic Losses ◽  
Competitive Advantages ◽  
Labour Productivity Growth ◽  
The Russian Federation

Innovation acts as a tool of providing relevance of goods being put out and at the same time as a way of gaining competitive advantages by the company, when it penetrates new markets. Technological progress would be impossible without competition in the field of innovation goods manufacturing. To ensure sustainable development of the company it is necessary to use innovation technologies not only in the sphere of manufacturing but also in management. The article deals with assessing the efficiency of introducing personnel outplacement at the oil and gas enterprise. The authors studied in detail HR policy of the ‘Surgutneftegas’ company and evaluated its efficiency leaning on the correlation between the rate of labour productivity growth and wages. The company had to cut the number of its employees due to decline in oil prices. It led to economic losses connected with direct and indirect costs of personnel firing. In order to avoid such expenses it was offered to use outplacement, which can act as a suitable tool for reducing staff at the mentioned enterprise. The application of these recommendations could improve the reputation of the company as a just employer and raise profit thanks to cutting costs of personnel firing.

scholarly journals Labour Market Trends and Outlook

1970 ◽  
Author(s):  
Joselyn Stroombergen
Keyword(s):  
Economic Growth ◽  
Labour Market ◽  
Economic Performance ◽  
Productivity Growth ◽  
Inflation Rate ◽  
Labour Productivity ◽  
Easy Task ◽  
Labour Productivity Growth ◽  
The Face ◽  
Market Trends

Given New Zealand's recent robust economic performance, 3.6% per annum on average since 1999, the strong improvement in a wide array of la hour market indicators has not been surprising. What has surprised many economic commentators has been the continued strength of the labour market in the face of the recent slowing economic activity.The ability of the economy to make use of its labour capacity may have improved suggesting a fall in New Zealand's non-accelerating inflation rate of unemployment (NAIRU).With labour utilisation now stretched to the limit if we want to maintain economic growth at levels we have become accustomed to, we will need to substantially lift the level of labour productivity growth in the coming years. However making the transition to a more productive economy while maintaining the gains we have achieved in labour utilisation will not be an easy task.

Productivity Growth, Structural Change and Informality: The Case of Russia

2015 ◽  
pp. 30-61 ◽  
Author(s):  
I. Voskoboynikov ◽  
V. Gimpelson
Keyword(s):  
Structural Change ◽  
Productivity Growth ◽  
Labour Productivity ◽  
Alternative Methods ◽  
Industry Effects ◽  
Labour Productivity Growth ◽  
Russian Economy ◽  
Negative Effect ◽  
Total Labour

This study considers the influence of structural change on aggregate labour productivity growth of the Russian economy. The term "structural change" refers to labour reallocation both between industries and between formal and informal segments within an industry. Using Russia KLEMS and official Rosstat data we decompose aggregate labour productivity growth into intra-industry (within) and between industry effects with four alternative methods of the shift-share analysis. All methods provide consistent results and demonstrate that total labour reallocation has been growth enhancing though the informality expansion has had a negative effect. As our study suggests, it is caused by growing variation in productivity levels across industries.

Improving management as a way to increase labour productivity

Upravlenie ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 24-30
Author(s):  
A. O. Ivanov
Keyword(s):  
Productivity Growth ◽  
Labour Productivity ◽  
Production Costs ◽  
Managerial Practices ◽  
Industrial Enterprises ◽  
Labour Productivity Growth ◽  
Period 2 ◽  
Main Factors ◽  
The Moment

The article gives an overview, performs analysis and classification of successful managerial practices applied at Russian industrial enterprises in the framework of the national project “Labour productivity and employment support”. The paper emphasizes the main factors of labour productivity growth as follows: investment policy, growth of human capital, and efficient use of managerial capital of enterprise. In order to determine the need of enterprises to increase labour productivity, the author proposes four universal criteria that signal the existing inefficiency even before the loss of competitiveness: 1) the dynamics of labour productivity in the company is not positive during a given period; 2) the company is behind competitors by labour productivity indicator; 3) the company is behind competitors by labour productivity growth rates indicator for a certain period; 4) unit production costs rise. These criteria allow you to take into account the situation both within the enterprise and in comparison with other enterprises. Each criteria can be considered separately or in combination with the others, applied to enterprises of different industries, specialization, and scale. Criteria indicate the direction of development in which the company is experiencing difficulties at the moment, or may experience them in the future.

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