Youth unemployment, labour productivity and the evolution of the labour markets in Europe
The size and persistence of youth unemployment has become unacceptable in some European countries, particularly in Southern Europe. Stagnation in labour productivity, on the other hand, goes back to the 1990s and even worsened after the burst of the crisis. A further evidence is that labour market reforms in many countries introduced, over the past twenty years, a set of newly designed job contracts that allowed the use of temporary work. We describe these phenomena and countries heterogeneity in four dimensions: labour productivity, youth unemployment, EPL (Employment Protection Legislation) and temporary work, and their dynamics.
Neoclassical economics is built around static concepts of efficiency and welfare that can only be applied with great care to a dynamic and inherently imperfect world . And economists, including most neoclassical economists, have long understood that the fact that perfect competition yields an allocatively optimal outcome in the purely hypothetical world of perfect competition, does not mean that competition is always a spur to efficiency in the real world. But the neoliberal revolution that has engulfed the world over the past thirty years has consisted mainly of creating a climate in which the benefits of competition were confidently asserted under an ever widening range of circumstances. Indeed, in this new world, market solutions have become the default option, so that the onus of proof lies squarely with those arguing for market interference in the public interest. But in a complex, dy-namic and highly contentious world this is an almost unsupportable burden, since it is impossible to make a genuinely compelling case for intervention in such a world. Of course, it would be equally impossible to make a compelling case for market forces, but this fact is effectively obscured by such an asymmetrical – and deeply ideological – perspective. As a result demands for the further empowerment of market actors are frequently asserted in the absence of good evidence to support the claims made on their behalf, with potentially serious consequences for the economy and for society. And the labour market is one area in which demands for the empowerment of market forces have been strong even though the supporting evidence has been weak and ambiguous. Moreover, if these demands for reform were not evidence driven, then it would be reasonable to assume that they were primarily driven by interests and ideology in which case one would not expect them to be deterred by contrary evidence. And that appears to be the case today as rising costs to labour and society in many countries are ignored, while those who benefit most from these policies seek to divide the losers by pitting the poor against the very poor, women against men, im-migrants against nationals, young against old. And for the moment they appear to have been rather successful, but we are a long way from the end of history. Meanwhile the human, social and economic costs of neoliberal labour market reform have been large and are likely to grow, while the promised benefits have been fitful and extremely unevenly allocated. But the task of building an effective opposition to these policies, in the spirit of Polanyi’s «double movement» , has been hampered by a range of forces that have reduced the scope for social solidarity and state action at the level of the nation state but without creating any international power centre that could seriously address the task of protect labour or society against an excessive empowerment of market forces and market actors. But the costs are real and they are growing. And they are far larger and more threatening than has been fully understood by many of those currently celebrating their short term gains. Indeed, in time, these processes will generate contradictions that must eventually be resolved, though sometimes in ways that will threaten the very fabric of society.
Youth are, by definition, the future. This book brings initial analyses to bear on youth in the five BRICS countries: Brazil, Russia, India, China and South Africa, which are home to nearly half of the world's youth. Very little is known about these youth outside of their own countries since the mainstream views on "youth" and "youth culture" are derived from the available literature on youth in the industrialized West, which is home to a small part of the world's youth. This book aims to help fill in this gap.
The handbook examines the state of youth, their past, present and permits the development of insights about future. The BRICS countries have all engaged in development processes and some remarkable improvements in young people's lives over recent decades are documented. However, the chapters also show that these gains can be undermined by instabilities, poor decisions and external factors in those countries. Periods of economic growth, political progress, cultural opening up and subsequent reversals rearticulate differently in each society. The future of youth is sharply impacted by recent transformations of economic, political and social realities. As new opportunities emerge and the influence of tradition on youth's lifestyles weakens and as their norms and values change, the youth enter into conflict with dominant expectations and power structures.
The topics covered in the book include politics, education, health, employment, leisure, Internet, identities, inequalities and demographics. The chapters provide original insights into the development of the BRICS countries, and place the varied mechanisms of youth development in context. This handbook serves as a reference to those who are interested in having a better understanding of today's youth. Readers will become acquainted with many issues that are faced today by young people and understand that through fertile dialogues and cooperation, youth can play a role in shaping the future of the world.
The second half of the XX century was marked by a dramatic change in the information sector of the economy, which led to the serious transformation in traditional labor relations. There have appeared new forms of mass employment such as freelance and telejob. However in Russia this subject has not been studied yet while there is a large number of relevant empirical and theoretical studies carried out in the developed countries The paper presents a review of Western quantitative studies devoted to freelance and conducted since the beginning of the 2000s. The following issues are reflected upon: elaboration of new terminology, cross-country freelance statistics, advantages and disadvantages of freelance, motivation of freelancers, structure of work process; relations between freelancers and their customers; and professional communities of freelancers.
This volume of scientific papers IEF RAS includes articles on a wide range of issues of theory and practice analysis and forecasting of national and regional economies and their sectors. The articles raise urgent problems of Russia’s socio-economic development: restoring of economic growth, increase in productivity, transition to a new technological level of production, improving the quality of RF citizens’ life. The book is addressed to researchers, economists, teachers, graduate students, students and readers interested in current and future socio-economic Russia’s problems.
Youth unemployment and joblessness are major issues for national governments and international organizations across the globe. In this respect, the school-to-work transition challenge is increasingly raising the interest of companies, education and training institutions, families and young people themselves, who are often involved in precarious and illegal forms of employment worldwide. In the field of industrial and labour relations, the school-to-work perspective seems particularly suitable for policy formulation and assessment: the broad and complex range of tools, strategies and policies for enabling youth training and their access to the labour market is deserving of a closer analysis at an international level in a time when jobless recovery threatens national economies. In this connection, this volume of the "Adapt Labour Studies Book-Series" has been set up with a view for achieving a better understanding of the causes, consequences and possible responses to the issue in a global dimension through an interdisciplinary and comparative approach.
The research is aimed at studying the applying of disruptive technologies by financial analysts in Russia and their impact on labor productivity and company productivity. Using structural equation modeling (SEM), we found that labor productivity and organizational support have almost identical indicators of a strong positive impact on company performance. Personal motivation stronger than digital skills affects labor performance.
This article discusses the use of public finance to reindustrialize Russian economy. The authors focus on the growing wear and tear of fixed assets, which damages the competitiveness of the Russian economy (even compared to other CIS economies). They show how a proper implementation of changes to corporate profits tax (CPT) may improve the situation and provide a calculation of CPT and VAT deduction in case of repair of fully depreciated fixed assets. They also prove that cost of repair of fully depreciated fixed assets should not be deducted for CPT purposes or affect the incoming deductible VAT.
The article presents analysis of the impact of human resource management systems (HRM) on the financial performance of banks operating in the Russian market. The sample includes 67 banks with different organizational characteristics (nationality of capital, ownership, lo-cation of the head office, number of years of operation in the Russian market). The research is based both on qualitative (a survey of heads of HR services of banks) and quantitative (analysis of financial statements of banks). Data were collected in the period from 2011 to 2015. Initially, the main indicators characterizing the effectiveness of the HRM system (labor productivity and return on investment in human capital), as well as indicators of the financial performance of banks (return on assets and return on capital), were calculated. Further, with the help of the system of econometric equations, the impact of performance indicators of HRM systems on financial results of banks was determined. The study revealed that, on one hand, implementation of the functions of the HRM system does not have a positive impact on financial performance of the bank. At the same time, the impact of effects of some particular variables characterizing the HRM system itself (orientation on the strategic goals of the bank, the composition of the functions performed, the automation of functions, the flexibility and innovation of the HRM system, the amount of personnel costs) on performance of banks was revealed. So, the positive effect of the HRM system arises from its orientation towards the strategic goals of the bank, as well as with the use of electronic systems that automate the functions of HRM and thus improving the timing and quality of their implementation. Together, these variables, characterizing the HRM system, increase the return on investment in human capital. If the bank also achieves the flexibility and innovation of the HRM system, then labor productivity also increases. This, in turn, has a positive impact on the financial performance of banks.