Subject The paper examines major factors influencing the labor productivity at micro- and macrolevels and analyzes the fact sheet of the national project, Labor Productivity and Employment Support, revealing its main drawbacks. Objectives The study identifies macroeconomic conditions in Russia and reveals the main obstacles to an increase in labor productivity of the Russian economy. Methods The study employs a systems analysis, statistical analysis, institutional analysis. Results We revealed systemic challenges to the development of the Russian economy that cause the low labor productivity, i.e. low pay, high interest rate on loans, poor manpower protection, dramatic disparity in property, poor protection of ownership, uncertainty in the future, excessive business regulation. Conclusions and Relevance We found key challenging aspects of the nations project, since it lacks a consistent and integral approach, pursues the attainment of input indicators (the number of stakeholders, volume of assimilated funds) instead of output ones (labor productivity growth, pooling project development competencies within a company, project performance management and performance appraisal. Having analyzed the fact sheet of the national project, we inferred that a very disputable approach is used to address the issue, that is, putting resources and efforts into partial results, which are very likely to have no synergistic effects on the overall economy, since they skip the cause-and-effect ties of socio-economic processes. The findings can prove useful for improving the national policy for labor productivity management.
Keywords: labor productivity, national projects, remuneration, quality of institutions
References:
Greasley A. Operation Management. Wiley&Sons Ltd., 2009.
Hannula M. Total Productivity Measurement Based on Partial Productivity Ratios. International Journal of Production Economics, 2002, vol. 78, iss. 1, pp. 57–67. URL: Link00186-9
Nezu R. Measuring Productivity OECD Manual. Paris, OECD, 2001.
Dement'ev V.E., Evsyukov S.G., Ustyuzhanina E.V. [Hybrid Forms of Business Organization: The Interfirm Cooperation Perspective]. Rossiiskii zhurnal menedzhmenta = Russian Management Journal, 2017, vol. 15, no. 1, pp. 89–122. URL: Link (In Russ.)
Grishin V.I., Ustyuzhanina E.V., Komarova I.P. [GDP as an indicator of socio-economic development: Problems of measurement and use]. Rossiiskii ekonomicheskii zhurnal = Russian Economic Journal, 2018, no. 4, pp. 34–48. (In Russ.)
Smith J. [The GDP Illusion. Value Added versus Value Capture]. Skepsis: elektronnyi zhurnal, 2012. (In Russ.) URL: Link
Acemoglu D., Robinson J. Pochemu odni strany bogatye, a drugie bednye. Proiskhozhdenie vlasti, protsvetaniya i nishchety [Why Nations Fail: The Origin of Power, Prosperity, and Poverty]. Moscow, EKSMO Publ., 2017, 720 p.
Gimpel'son V.I., Kapelyushnikov R.I., Sharunina A.V. [Low Paid Jobs in the Russian Labour Market: Does Exit Exist and Where Does It Lead to?]. Ekonomicheskii zhurnal Vysshei shkoly ekonomiki = The HSE Economic Journal, 2018, vol. 22, no. 4, pp. 489–530. (In Russ.)
Acemoglu D., Restrepo P. Robots and Jobs: Evidence from US Labor Markets. Cambridge, Mass., NBER Working Paper, No. 23285, 2017. URL: Link
Bergeaud A., Cette G., Lecat R. Total Factor Productivity in Advanced Countries: A Long-Term Perspective. International Productivity Monitor, 2017, vol. 32, pp. 6–24. URL: Link
Kapelyushnikov R.I. [Is technological change a devourer of jobs?]. Voprosy Ekonomiki, 2017, no. 11, pp. 111–140. (In Russ.) URL: Link
Bobkov V.N., Kvachev V.G., Novikova I.V. [Precarious Employment in the Regions of Russian Federation: Sociological Survey Results]. Ekonomika regiona = Economy of Region, 2018, vol. 14, no. 2, pp. 366–379. URL: Link (In Russ.)