The Elasticity of Labor Productivity by Factors of Production in Modern Russia

Abstract

The correlation between labor productivity and indicators reflecting the influence of socio-economic and innovative factors in the regions of Russia for 2015-2018 were evaluated. For each year, according to statistics from 82 regions of Russia, econometric models are constructed that allow obtaining elasticity coefficients of labor productivity by capital-labor ratio, foreign investment, average monthly wage, income inequality, producer price index of industrial goods, export share in gross regional product. The prospects of economic policy aimed at increasing labor productivity were estimated.