The Influence of the Factors of Production on Labor Income in the Pre-crisis Economy of Russia

2015 ◽  
Vol 3 (3) ◽  
pp. 9-13 ◽  
Author(s):  
Басовский ◽  
Leonid Basovskiy ◽  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
New Technologies ◽  
Institutional Environment ◽  
Econometric Models ◽  
Labor Income ◽  
Production Factors ◽  
Main Production ◽  
Basic Production ◽  
The Impact

The econometric models constructed in work have established the basic production factors determining the level of the labor income in the country. Capital-labor, human capital and new technologies in 2010-2013 explained 71.6% of the labor income in the country. The effect of changes in the level of human capital on labor income surpasses the impact of changes and the degree of capital-diffusion of new technologies. In the pre-crisis period, the influence of the main production factors on the income of the employed population of Russia has declined under the influence of pass laws that formed unfavorable for economic development institutional environment.

The Factor Productivity in the Pre-crisis Russian Economy

2015 ◽  
Vol 3 (3) ◽  
pp. 19-23 ◽  
Author(s):  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Human Capital ◽  
Labor Productivity ◽  
New Technologies ◽  
Institutional Environment ◽  
General Level ◽  
Factor Productivity ◽  
Russian Economy ◽  
Production Factors ◽  
Main Production ◽  
The Impact

To evaluate the factor productivity in the pre-crisis economy the econometric models were built. From the general level determination of the labor productivity models of 77.8%, the share of capital is 67%, the share of human capital — 8.4%, the share of new technologies — 1.4%. Effect of changes in the level of human capital on productivity surpasses the effect of changes in capital and the degree of diffusion of new technologies. In the pre-crisis period, the influence of the main production factors on the labor productivity was significantly decreased. The new tecnology have ceased to influence on productivity in general. The recession factor productivity in the country in the period 2010- 2013 may due to the formation under the impact of the adopted laws for the economic growth adverse institutional environment.

scholarly journals Econometric models for estimating current and forecast values of the level of human capital development in the Russian economy

2020 ◽  
Vol 26 (1) ◽  
pp. 52-67
Author(s):  
Nina Baranova ◽  
Sergey Larin ◽  
Evgeny Khrustalyov
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Negative Impact ◽  
Import Substitution ◽  
Econometric Models ◽  
Practical Significance ◽  
Human Capital Development ◽  
Russian Economy ◽  
Capital Development ◽  
The Impact

Studies of factors of sustainable economic development in modern conditions are highly relevant for Russia due to the constant increase and tightening of sanctions restrictions. They have a negative impact on the introduction of innovative developments and economic growth, and reduce the competitiveness of Russian enterprises and their products on world markets. Human capital can become one of the key factors for countering sanctions restrictions, improving the efficiency of economic development and gaining additional competitive advantages for domestic enterprises and the economy as a whole. Assessing the impact of human capital on the sustainable development of the economy is difficult, since it is one of the specific forms of capital. When making appropriate measurements, economic scientists rely on a number of developed theoretical methods and practical tools that support them, which allow us to obtain fairly accurate values of the human capital development index (HDI) based on statistical data. First of all, this is the current UN methodology for calculating the HDI indicator, as well as modern software systems OriginPro-8.6 and Eviews-10.0, which have sufficiently advanced functionality for performing calculations. Russia today has all the necessary prerequisites and opportunities for progressive social and economic development. However, the formation of econometric models will help to timely determine the current and forecast values of the level of human capital development for individual enterprises, industries, and the country’s economy as a whole. This paper shows the practical application of the econometric tools of all the above approaches to obtain the calculated values of the HDI indicator for different time periods and different scenarios for the development of the Russian economy. The results obtained confirmed the high practical significance of the tools used and the acceptable accuracy of the calculations. However, the current and forecast values of the level of human capital development alone will not be able to ensure the effective development of the Russian economy. On the contrary, the effective use of human capital in the implementation of import substitution strategies and national projects will allow our country to become one of the world’s leading economic development countries.

Impact of Production Factors on Labour Income in Modern Russia

2016 ◽  
Vol 4 (1) ◽  
pp. 29-33
Author(s):  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Human Capital ◽  
Economic System ◽  
New Technologies ◽  
New Technology ◽  
Econometric Models ◽  
Earned Income ◽  
Industrial Economy ◽  
Labour Income ◽  
Production Factors ◽  
Post Industrial

The paper builds econometric models that allow us to evaluate the influence of the main productionfactors, defining the level of labour income in the country. Capital/labour ratio, human capital and new technology explain over 70% of earned income. The effect of changes in the level of human capital on labor income surpasses the effect of changes in capital/labour ratio.The impact of capital/labour ratio has been steadily declining, whereas the influence of human capital and new technologies has been increasing. These arenew factors, the most important ones for the development of post-industrial economy. The growth of their influence shows that the economic system of the country adapts to the prevailing institutional conditionsunfavorable for Russia’s industrial economy.

scholarly journals The Change of Sources of Growth and Sustainable Development in China: Based on the Extended EKC Explanation

2021 ◽  
Vol 13 (5) ◽  
pp. 2803
Author(s):  
Huaide Wen ◽  
Jun Dai
Keyword(s):  
Sustainable Development ◽  
Human Capital ◽  
Environmental Pollution ◽  
Knowledge Economy ◽  
Technological Progress ◽  
Inflection Point ◽  
Physical Capital ◽  
Production Factors ◽  
Main Production ◽  
Traditional Economy

This paper extends the “sources of growth” explanation for the Environmental Kuznets Curve (EKC) proposed by Copeland and Taylor in a concise theoretical framework, that is, when the sources of growth are transformed from physical capital and labor to human capital and knowledge, the environmental pollution could at first rise and then fall with a sustainable growth in per capita income. Using the provincial panel data from 1995 to 2017 in the mainland of China, an empirical analysis is carried out by the System Generalized Method of Moment (sys-GMM). The results show that: first, the EKC hypothesis exists in China. The inflection point for SO2 emissions has been passed in all of the provincial regions, and for CO2 and comprehensive environmental pollution losses have not been passed in some regions, but the inflection point from the national average level in China has been passed; second, the main production factors of the traditional economy, physical capital and labor, are positively correlated with environmental pollution, while human capital and green technological progress, the main production factors of the knowledge economy, are negatively related to environmental pollution; third, human capital and green technological progress have become important factors to promote economic growth, and human capital, in particular, has become the primary factor, which indicates that China is in the process of transforming traditional economy into a knowledge economy. The stage of China’s economic development and the trend of environmental pollution is consistent with the extended “sources of growth” explanation for the EKC, which proved the theoretical hypothesis. This has an important practical significance for China’s current economic reform and important theoretical value for the economic transformation and sustainable development of developing countries. The paper finally puts forward corresponding policy recommendations.

scholarly journals The impact of human capital on innovative development of the region

2021 ◽  
Vol 20 (3) ◽  
pp. 160-167
Author(s):  
M. V. Dorokhov
Keyword(s):  
Health Care ◽  
Human Capital ◽  
Economic Development ◽  
Social Security ◽  
Social Factor ◽  
Innovative Development ◽  
Analytical Assessment ◽  
Main Factors ◽  
Education Culture ◽  
The Impact

The article provides an analytical assessment of the impact of human capital on the pace of economic development of the state. Human capital acts as a key production and social factor in the development of the economy. The main factors contributing to the development of human capital are identified: health care and education, culture and sports, social security.

scholarly journals The Impact of New Technologies and Human Capital on the Contribution of New Ways to the Economy of the Regions of the Northwest Federal District

2017 ◽  
Vol 5 (2) ◽  
pp. 43-45 ◽  
Author(s):  
Басовская ◽  
Elena Basovskaya ◽  
Басовский ◽  
Leonid Basovskiy
Keyword(s):  
Higher Education ◽  
Human Capital ◽  
New Technologies ◽  
Federal District ◽  
Komi Republic ◽  
Per Capita Gdp ◽  
Fixed Assets ◽  
Pskov Region ◽  
Per Capita ◽  
The Impact

Econometric impact assessments of new technologies and human capital on a contribution of new technological ways to per capita GDP in regions of Northwest Federal District of Russia are received. Coefficients of elasticity of a contribution of new ways to per capita GDP on use of the new technologies estimated by armament the work equity new fixed assets and for use of the human capital estimated by a share of busy workers with the higher education are estimated. The use of new technologies is the most effective in St. Petersburg, in the Murmansk, Leningrad regions and in the Komi Republic. Efficiency use of new technologies in the Pskov region is the lowest. The human capital is most effectively in the Komi Republic, the Murmansk and Leningrad regions. Efficiency use of a human capital in the Pskov region is the lowest.

scholarly journals Human capital as the growth factor in regional competitiveness

2018 ◽  
Vol 22 (6) ◽  
pp. 57-69
Author(s):  
Justyna Kogut ◽  
Katarzyna Brożek
Keyword(s):  
Human Capital ◽  
New Technologies ◽  
Highly Qualified ◽  
Method Of Least Squares ◽  
Regional Competitiveness ◽  
Intangible Resources ◽  
Panel Model ◽  
Fixed Assets ◽  
New Directions ◽  
The Impact

In the recent years, the world economy has undergone an enormous transformation. It can be noted that it is not only based on industry, but also on knowledge. Achieving a competitive advantage by regions is further focused on investing in fixed assets, but, what is also important, in human capital. At present, a factor that is increasingly important in achieving competitiveness is the ability to use intangible resources. Expenditures on education and research, investing in people, their knowledge and skills are an essential precondition of raising competitiveness. In the case of a highly qualified staff, it allows the efficient introduction of new technologies and the creation of new directions for its development. The competitiveness of the regions is influenced, inter alia, by human talents, knowledge, entrepreneurship, initiative and own resources to improve living conditions. Human capital is thus a key determinant of the competitiveness of regions in Poland. Therefore, the priority of this article is to analyze the impact of selected components of human capital on the competitiveness of regions in Poland in the years 2007-2014. The article is both theoretical and empirical. The first part reviews the literature closely related to the topic of the work. The second part includes a statistical analysis and a construction of a panel model estimated by the method of least squares. GRETL program was used for calculations. Imię autora*:

Human Capital and Labor Productivity in North Caucasian Federal District of Russia

10.12737/7810 ◽  
2015 ◽  
Vol 3 (1) ◽  
pp. 31-35
Author(s):  
Комарова ◽  
Anna Komarova ◽  
Кальянов ◽  
Aleksandr Kalyanov
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Labor Productivity ◽  
Federal District ◽  
Education Level ◽  
Econometric Models ◽  
The North ◽  
Development Analysis

A technique based on Russia regions’ economic development analysis (on the example of human capital and labor productivity in the North Caucasian Federal District of Russia) by means of creation of econometric models related to labor productivity in regions of the North Caucasian Federal District of Russia has been realized. It has been shown that such a factor as an employed population’s education level is the important one in determining the labor productivity in the regions of the North Caucasian Federal District of Russia.

Higher Education’s External Effects in Modern Russia’s Economy

10.12737/7806 ◽  
2015 ◽  
Vol 3 (1) ◽  
pp. 4-10 ◽  
Author(s):  
Басовский ◽  
Leonid Basovskiy ◽  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Economic Development ◽  
Growth Rates ◽  
Institutional Environment ◽  
Business Development ◽  
Econometric Models ◽  
New Paradigm ◽  
External Effects ◽  
The One

Econometric models of GDP’s crisis growth rates and factors of GDP’s recession rates have been received. The models allow predict the recession in Russia’s economy in 2015–2019. Decline in production during the crisis can reach 16–17%. Production decline duration can make 4–5 years. The crisis phenomena in economy at the level up to 80,7% have been caused by formation of adverse institutional environment under the influence of the laws adopted in 2003–2014. A new paradigm of economic policy is necessary for overcoming the crisis phenomena in economy, this policy is the one related to formation of institutions favoring to the economic growth and economic development, the policy aimed at the business development, at investment attraction, at domestic demand expansion.

The colonial exports pattern, institutions and current economic performance

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tania El Kallab ◽  
Cristina Terra
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Resource Curse ◽  
Data Set ◽  
Content Type ◽  
Long Run ◽  
French Colonies ◽  
Colonial Institutions ◽  
The Impact

PurposeThis paper explores the role of colonial heritage on long-term economic development from a resource-curse perspective. The authors investigate the impact of colonial exports on long-term economic development through two channels: (1) a direct impact of the economic dependency on natural resources and (2) an indirect impact via its effect on colonial institutions, which persisted over time and influenced current economic development.Design/methodology/approachTo address this issue, the authors use an original data set on French bilateral trade from 1880 to 1912. The authors use partial least square structural equation modeling (PLS-SEM) in the empirical analysis, so that the authors are able to construct latent variables (LVs) for variables that are not directly observable, such as the quality of institutions.FindingsThe authors find that exports of primary goods to France had a negative impact on colonial institutions and that for French colonies, this impact was driven by minerals exports. Despite its impact on colonial institutions, exports of French colonies had no significant indirect impact on their current institutions. The authors find no significant direct impact of colonial trade on current development for French colonies. Finally, colonial exports of manufactured products had no significant impact on colonial institutions among French colonies and a positive impact among non-French ones.Research limitations/implicationsResearch implications regarding the findings of this paper are, namely, that the relative poor performance within French colonies today cannot be attributed to the extraction of raw materials a century ago. However, human capital and institutional development, instead of exports, are more relatively important for long-term growth. Some limitations in trying to determine the simultaneous relationship among colonial trade, institutions and economic performance are the relation between colonial trade and the extent of extraction from the colonizer, which is hard to quantify, as well as its precise mechanism.Practical implicationsSince the initial institutions set in those former colonies presented a strong persistence in the long run, their governments should focus now on building sound and inclusive political and economic institutions, as well as on investing in human capital in order to foster long-term growth. Once a comprehensive set of institutional and human resources are put in place, the quality and quantity of exports might create a positive spillover on the short-run growth.Social implicationsOne social implication that can be retrieved from this study is the ever-lasting effect of both human capital investment and introduction of inclusive political and economic institutions on the long-run impact of growth.Originality/valueThe paper uses an original primary data set from archival sources to explore the role of colonial heritage on long-term economic development from a resource-curse perspective. It applies a relatively new model partial least squares path modeling (PLS-PM) that allows the construction of LVs for variables that are not directly observable, as well as channeling the impact on growth through both direct and indirect channels. Finally, it allows for the simultaneous multigroup analysis across different colonial groups.

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