Labour productivity by main economic activity: Real gross value added per hour worked, percentage change at annual rate

2019 ◽  
Keyword(s):  
Economic Activity ◽  
Labour Productivity ◽  
Value Added ◽  
Percentage Change ◽  
Annual Rate ◽  
Gross Value Added

Estimation of economic specialization of Ukrainian regions in the context of global trends

2019 ◽  
pp. 24-31
Author(s):  
Svitlana Ishchuk ◽  
Lyubomyr Sozanskyy
Keyword(s):  
National Economy ◽  
Economic Activity ◽  
Commodity Prices ◽  
Value Added ◽  
High Tech ◽  
Agricultural Commodity ◽  
Macroeconomic Factors ◽  
Gross Value Added ◽  
Its Regions ◽  
Economic Specialization

The scale and deep heterogeneity of the national economy of Ukraine in the regional context make the relevance of scientific research in this thematic area. The purpose of the article is to determine the economic specialization of the regions of Ukraine by key economic activities contributing to the formation of gross value added, as well as outlining the potential risks to the national economy, taking into account the situation on world commodity markets. The results of the research showed that one of the consequences of the unstable dynamics of industrial production in Ukraine under the influence of geopolitical and macroeconomic factors is the reduction of industrial specialization of the economy of a number of Ukrainian regions. Thus, in 2017 the manufacturing was the leading economic activity (with the highest share in the gross value added created) in 11 regions, compared to 15 in 2012. So Poltava, Donetsk, Dnipropetrovsk and Zaporizhzhya regions are considered to be “highly industrial”. At the same time, the agrarian specialization of the economy of Ukraine and its regions deepened – in 2017 agriculture became the leading type of economic activity in 11 regions (compared to 7 in 2012). The most “agrarian” in Ukraine (with a share of agriculture in gross value added over 30%) in 2017 became the Kherson, Kirovohrad and Khmelnytsky regions. Increasing the level of “agrarianization” of the national economy in the context of volatility of agricultural commodity prices on the world markets poses significant risks for the socio-economic development of Ukraine and its regions. These risks are exacerbated by the high amplitude of fluctuations in the volume and structure of domestic agricultural products and the low degree of processing of raw materials. To improve the structure of domestic commodity exports (in the direction of increasing its share of products with a higher degree of processing) and to deepen its diversification, a number of measures should be carried out aimed at stimulating export activity of enterprises (industrial and agro-industrial), carrying out technical and technological re-equipment of industrial and export production bases, creation of new high-tech industries on the basis of the implementation of powerful innovation and investment projects.

SOURCES OF THE DYNAMICS OF LABOR PRODUCTIVITY CHANGES IN AGRICULTURE IN EUROPEAN UNION COUNTRIES BASED ON ECONOMIC ACCOUNTS FOR AGRICULTURE (EAA)

2018 ◽  
Vol XX (2) ◽  
pp. 72-77
Author(s):  
Joanna Jaroszewska ◽  
Włodzimierz Rembisz
Keyword(s):  
Labor Productivity ◽  
Analytical Approach ◽  
Positive Impact ◽  
Labour Productivity ◽  
Value Added ◽  
Agricultural Labor ◽  
Gross Value Added ◽  
Productivity Factor ◽  
Labor Inputs ◽  
The Empirical Analysis

The purpose of this analysis is to illustrate sources of dynamics of labour productivity factor performance based on the analytical approach adopted. The dynamics of gross value added and employment in agriculture were shaped to the dynamics of labor productivity changes. Derived analytical approach to the sources of dynamics of changes in labour productivity has been illustrated empirically. The empirical analysis was based on EU ROSTAT data. Economic Accounts for Agriculture and Statistics of Agricultural Labor Inputs. The positive impact of both sources of labor productivity growth and gross value added a tendency towards greater stability for the EU -15 countries has been demonstrated, the neutral nature of direct payments for changes in labor productivity was found.

The impact of labour productivity on wages in Bulgaria, 2000-2017

SEER ◽  
2019 ◽  
Vol 22 (2) ◽  
pp. 217-224
Author(s):  
Lyuboslav Kostov
Keyword(s):  
Econometric Model ◽  
Labour Productivity ◽  
Value Added ◽  
Decisive Role ◽  
Technological Advance ◽  
Future Research ◽  
Gross Value Added ◽  
Starting Point ◽  
The Impact ◽  
Main Factor

In the post-crisis period, the traditional relationship between labour productivity and wages has been called increasingly into question as a result of recent changes in the labour-capital ratio. There is a growing public debate on this issue, but the available literature within Bulgaria has not, up to now, examined the link directly. This article reports the findings of a new study, specifically from the starting point that labour productivity is not a main factor in the dynamics of average wages in Bulgaria in the period 2000-2017. Through an econometric model, the author concludes that the impact of gross value added in terms of the change in average wages in Bulgaria has diminished as a result of the crisis; and that the dynamics of gross value added per employee do not play a decisive role in explaining the dynamics of average wages. The author points to the significance of this finding for future research, adding also that, at a time again of technological advance, innovation is likely to be one factor which further distorts classical understanding of the interdependence of labour productivity and wages.

scholarly journals Różnice w wydajności pracy między grupami państw UE w rolnictwie na podstawie Rachunków Ekonomicznych dla Rolnictwa (RER)

2018 ◽  
Vol 18(33) (2) ◽  
pp. 105-116
Author(s):  
Joanna Jaroszewska ◽  
Włodzimierz Rembisz
Keyword(s):  
Analytical Approach ◽  
Negative Impact ◽  
Labour Productivity ◽  
Value Added ◽  
Eu Countries ◽  
Gross Value Added ◽  
Labour Input ◽  
Direct Payments ◽  
The Eu

The differences of the level of labour productivity in EU countries puts at a disadvantage countries adopted into the EU after 2004 (EU-13). A derived analytical approach to this problem has been illustrated empirically. The labour productivity analysed is presented as gross value added per person employed. The Economic Accounts for Agriculture and the Agricultural Labour Input were used for the study. The research shows that the large differences of labour productivity between groups of countries is still maintained. However, it is gradually decreasing. A negative impact of direct payments on this process was also found.

scholarly journals CONCEPTUAL PRINCIPLES OF EVALUATION OF ACTIVITIES OF ENTERPRISES AND THEIR CAPITALIZATION BASED ON VALUE ADDED

2018 ◽  
Vol 20 (3(68)) ◽  
pp. 155-164
Author(s):  
YU.A. NAZARENKO
Keyword(s):  
Gross Domestic Product ◽  
Economic Activity ◽  
Value Added ◽  
Point Of View ◽  
Gross Regional Product ◽  
Conceptual Basis ◽  
Gross Value Added ◽  
Main Indicator ◽  
Adequate Representation ◽  
Regional Product

Topicality. In today's financial and economic analysis of the company's main indicators are output and profit, but they have significant disadvantages. The indicator "output" includes the results of the activities of suppliers of goods and services and, accordingly, does not provide adequate representation about the results of the enterprise itself. And the indicator "profit" reflects the interests of only the owners of the enterprise. Its use encourages lower wages, social security financing and employee training, and also indicates a contradiction between the interests of society and the owners of enterprises. All this determines the relevance of the definition of indicators that will ensure an adequate representation of the results of the enterprise and a single conceptual framework for assessing the results of economic activity at the micro, mega and macro levels. Aim and tasks. Analyze the existing indicators of assessing the effectiveness of the enterprise, to determine their main disadvantages. Consider the possibility of using the indicator �gross value added� as the main indicator of an enterprise. Conduct a comparative analysis of the possibility of using different variants of the indicator �value added� to assess the performance of an enterprise. Consider using the indicator �gross value added� as a conceptual basis for evaluating the economic activities at the micro, mega and macro levels.. Research results. As the main indicators of the enterprise, using "output" and "profit". The first indicator consists of gross value added and intermediate consumption. The latter is the result of the activities of other enterprises. In this case, the external contribution can be decisive, and therefore the indicator "output" does not provide adequate representation of the results of enterprises. Another key indicator of enterprise activity is profit. At orientation to it, payment of labor, financing of social security and training of employees is the cost of the enterprise and the less they are, the greater the profit of the enterprise. But in modern conditions, in order to ensure sustainable economic development of a separate enterprise and the country as a whole, it is important to consider that hired workers are carriers of intellectual capital. Loss or reduction of this capital may lead to more significant losses than loss of physical and financial capital. Under such conditions, it is advisable to use the indicator "gross value added" as the main indicator of the effectiveness of the enterprise. Based on this indicator, the main result of the country's economic activity (gross domestic product) and regions (gross regional product) is determined. Gross value added is a very important indicator in terms of meeting the needs of all stakeholders in the productive activity of the company's: employees, owners of the enterprise, the state. The "gross value added" indicator is the main indicator of the company's activities from the point of view of the interests of the whole society, and the indicator "profit" is the main one from the point of view of the owners of the enterprise. The presence of these two indicators reflects the contradiction between the interests of society and the owners of enterprises. The use of the indicator "gross value added" as the main indicator of the company's activity provides a single conceptual basis for assessing the results of economic activity at the micro, mega and macro levels. The study of literary sources suggests the use of different indicators "value-added" to assess the performance of the enterprise. The greatest recognition was given to the "Economic Value Added" (EVA), "Shareholder Value Added " (SVA) and "Market Value Added" (MVA). According to the results of the analysis of these indicators, it was concluded that their general disadvantage is that they reflect the interests of the owners of the enterprise, and not society. Conclusions. Gross value added has a greater analytical value than profit, because, firstly, it gives a more adequate representation of the results of enterprises, and secondly, it determines the potential for capital accumulation. The use of this indicator provides a single conceptual framework for assessing the results of economic activity at the micro, mega-and macro level, since gross domestic product (GDP) and gross regional product (GRP) consist of the gross value added of all institutional units (residents), respectively, of the country and region.

scholarly journals European Funds for Rural Areas and Regional Convergence of Agriculture in Poland

2019 ◽  
Vol 12 (1) ◽  
pp. 12-22
Author(s):  
Mieczysław Adamowicz
Keyword(s):  
European Union ◽  
Rural Areas ◽  
Rural Economy ◽  
Labour Productivity ◽  
Value Added ◽  
Added Value ◽  
The European Union ◽  
Local Data ◽  
Gross Value Added ◽  
Sigma Convergence

SummarySubject and purpose of work: The aim of the article is to assess the phenomena of sigma convergence of labour productivity in agriculture and other sectors of rural economy in Polish regions during 2003 – 2014 in the context of the amount of European funds designated for agriculture and rural areas. European supprt was compared to the Gross Added Value of agriculture, forestry, hunting and fishery.Materials and methods: The subject literature and statistical data received from the Agricultural Modernization Agency and the Local Data Bank of the Central Statistical Office were used. The empirical data regarding the level of agriculture in regions as well as the data on the resources utilised from the European Union were examined in order to assess the correlation between them and the phenomenon of regional sigma-convergence.Results: The study confirms the sigma convergence of the Gross Value Added per units of funding obtained from the European Union Budget and different level of sigma convergence of GVA / PE in regions.Conclusions: Sigma convergence assessment of the Gross Value Added per person employed in regions shows that in the analyzed period three phases could be distinguished: convergence (2003 – 2008), divergence (2008 – 2010) and stagnation (2010 – 2014).

scholarly journals Regional disparities in labour productivity in Poland: a spatial statistics approach

2016 ◽  
Vol 5 (2) ◽  
pp. 53
Author(s):  
Agata Sielska ◽  
Aleksandra Pawłowska
Keyword(s):  
Economic Growth ◽  
Rural Development ◽  
Labour Productivity ◽  
Spatial Association ◽  
Value Added ◽  
Spatial Diversity ◽  
Rate Of Change ◽  
Agricultural Economics ◽  
Productivity Level ◽  
Gross Value Added

An economic growth is considered in the agricultural economics as a central issue, most generally understood as long-term process of increasing agricultural production. Especially in neoclassical theory, the economic growth is determined mainly by a labour productivity. Hence, level and rate of change of the labour productivity are significant, particularly in the context of state activities for rural development. Our research objective was to examine spatial diversity of the labour productivity in Poland. The following partial objectives were also defined: measurement of strength and direction of inter-territorial dependencies and identification of clusters with high (or low) labour productivity level. Moreover, we assessed the labour productivity in the context of regional subsidies. Defining the labour productivity as gross value added divided by number of agricultural workers, we used Moran’s I and Geary’s C for identifying the spatial association. The calculations were made for 66 subregions at NUTS3 level, on the basis of information from the Local Data Bank base created by the Central Statistical Office of Poland. As the preliminary results indicated, the level of labour productivity differed by region. This included cluster with relatively low labour productivity in the Southeast and cluster with relatively high labour productivity in the North. Our findings may support decision-makers in evaluation of the instruments implemented by EU and national institutions for rural development and contribute to better understanding of agricultural policy effects. Keywords: agricultural economics, labour productivity, gross value added, spatial autocorrelation 

scholarly journals GROSS VALUE ADDED AS THE MAIN INDICATOR PRODUCTIVITY OF ENTERPRISES

2020 ◽  
Vol 22 (2(75)) ◽  
pp. 25-33
Author(s):  
V.F. GORYACHUK ◽  
Y.A. NAZARENKO
Keyword(s):  
Economic Activity ◽  
Capital Accumulation ◽  
Value Added ◽  
Business Owners ◽  
Conceptual Basis ◽  
Important Indicator ◽  
Gross Value Added ◽  
Main Indicator ◽  
Adequate Idea ◽  
Regional Product

Topicality. Traditionally, output and profit are used as the main indicators of enterprise productivity, but they have significant shortcomings. All this determines the relevance of the search for new indicators that will provide an adequate idea of the productivity of enterprises and a single conceptual basis for assessing the results of economic activity at the micro, mega and macro levels. Aim and tasks. To analyze the existing indicators for assessing the productivity of enterprises, to identify their main short comings. Consider the experience of the Republic of Belarus in the use of gross value added as an indicator of productivity of enterprises. Justify the use of gross value added as a conceptual basis for assessing the results of economic activity at the micro, mega and macro levels. Identify the main indicators for assessing the productivity of enterprises on the basis of gross value added. Research results. As the main indicators of the enterprise, use "output" and "profit". The first indicator consists of gross value added and intermediate consumption and therefore it depends on the performance of other enterprises. In this case, the external contribution can be decisive and therefore the indicator "output" does not give an adequate idea of the productivity of enterprises. Another key indicator of enterprise activity is profit. With a focus on it, wages, social security financing and employee training are the costs of the enterprise and the smaller they are, the greater the company's profits. But in modern conditions to ensure sustainable economic development of the individual enterprise and the country as a whole, it is important to consider that employees are carriers of intellectual capital. The loss or reduction of this capital can lead to more significant losses than the loss of physical and financial capital. Under such conditions, it is advisable to change the benchmark, namely the use of gross value added as the main indicator of productivity of the enterprise. It is on the basis of this indicator that the main result of economic activity of the country (gross domestic product) and regions (gross regional product) is determined. Gross value added is a very important indicator in terms of meeting the needs of all stakeholders in the performance of the enterprise: employees, business owners, the state. The indicator "gross value added" is the main indicator of the enterprise in terms of the interests of society as a whole, and the indicator "profit" - the main in terms of the interests of business owners. The presence of these two indicators reflects the contradiction between the interests of society and business owners. Conclusion. Gross value added has a greater analytical value than the indicators "output" and "profit", because, firstly, it gives a more adequate picture of the results of enterprises, secondly, it determines the potential for capital accumulation and thirdly provides a single conceptual basis for evaluation of economic performance at the micro, mega and macro levels.

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