Journal of Applied Economic Research
ISSN 2712-7435
Modeling of Indices of Labor Productivity in Manufacturing Industry and Mineral Mining
Mikhnenko P.A.
Abstract
Abstract. The relevance of the study is determined by the presence of significant potential for productivity growth in the Russian economy. The subject of the study is a method of calculating the labor productivity index and its application to compare the dynamics of this economic indicator in manufacturing and mining. The objective of the study is evaluation of the adequacy and instrumental content of the labor productivity index, calculated as the ratio of gross value added to the total labor costs in an industry. The research method is based on statistical and regression analysis, economic and mathematical modeling of the dynamics of labor productivity index. It has been concluded that the traditional approach to the calculation and analysis of the dynamics of labor productivity does not allow one to identify and compare causes for its dynamics in the studied industries. The author proposes models of indices characterizing the dynamics of labor productivity as a change in the profitability of fixed assets per employee, taking into account the influence of the dynamics of the industry’s fixed capital stock. It is shown that the increase in "latent" labor productivity in the mining of minerals in 2008–2015 was 2.19%. In the processing industries for the same period, there was a decrease in the “latent” productivity of 2.94%. The obtained results characterize the dynamics of labor productivity in the processing industries and the mining industry but the proposed calculation method can also be used to analyze other industries. The results obtained are significantly at odds with traditional statistical data, which indicates the possibility of the proposed method for assessing the implicit prerequisites for changing the dynamics of labor productivity in sectors of the economy.
Keywords
labor productivity; regression analysis; processing industries; mining of minerals.
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About Authors
Mikhnenko Pavel Aleksandrovich – Doctor of Economics, Associate Professor, Head of the Department of General and Strategic Management, Moscow University for Industry and Finance «Synergy», Moscow, Russia (105318, Moscow, Izmailovsky Val, 2); e-mail: mpa69@yandex.ru.
For citation
Mikhnenko P.A. Modeling of Indices of Labor Productivity in Manufacturing Industry and Mineral Mining. Bulletin of Ural Federal University. Series Economics and Management, 2019, Vol. 18, No. 4, 505-521. DOI: 10.15826/vestnik.2019.18.4.025.
Article info
Received July 15, 2019; Accepted August 12, 2019
DOI: http://dx.doi.org/10.15826/vestnik.2018.17.4.025
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