Tula, Tula, Russian Federation
Tula, Tula, Russian Federation
The aim of the work was to study the dynamics of the influence of the main capital on labor productivity in the economy of modern Russia. To identify the effect of capital-labor ratio on labor productivity production function models were used. To obtain the models, Rosstat cross-section data were used for 80 regions of Russia for the period 2010–2017 except for the autonomous districts that are part of individual regions). In addition, for the period 2014–2017 cross section data were used for 82 regions of Russia, including the Republic of Crimea and the city of Sevastopol. The results of the simulation allowed us to determine that the capital productivity of labor in 2010–2017 explained from 75% to 81% of labor productivity in the regions of the country. In the period under review, there is a general tendency to reduce the impact of the capital-labor ratio, reflecting a decrease in the efficiency of using fixed capital in the country. The decline in the efficiency of using fixed capital in the economy may be a consequence of the formation of an institutional environment unfavorable to the economic development.
productivity, capital-labor ratio, fixed capital, efficiency, econometric models
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