Importance The article highlights the issues of an econometric evaluation of the relationship of labor productivity and specific investment in fixed assets. Objectives The paper aims to identify the linkages of investment in fixed assets per employee and labor productivity in the constituent entities of the Russian Federation. Methods We used a correlation and regression analysis to build unifactor regression models based on labor productivity time series and specific investments, as well as the quantitative characteristics of the labor-productivity average values growth by increasing the specific investment by 1 ruble. Results At the present stage of development of the regions of the Russian Federation, the indicator of assets is a major factor in labor productivity growth. We identified leader regions where the highest labor productivity average value is gained by the assets indicator increase. As well we identified outsider regions where investment potential escalating is not expressed in the increase of labor productivity average value per 1 ruble of specific investment. We determined that the rate of investment in fixed assets per employee in the leader regions and outsider regions does not allow explaining the change in labor productivity through the dynamics of specific of investment only. There is a more complex interaction, which is implemented through a transmission mechanism. Conclusions We concluded that at the current stage of regional development, labor productivity improvement is possible due to the growth of assets. Investment in the basic production assets in use should facilitate this.
Keywords: investment in fixed capital, labor productivity, capital-labor
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