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Opportunities for accelerating labor productivity growth: The role of small and medium enterprises
https://doi.org/10.32609/0042-8736-2020-3-98-114
Abstract
The paper considers necessary conditions for acceleration of labor productivity growth in Russia. Based on micro data, as well as aggregate data, the paper quantifies the contribution of small and medium firms to labor productivity growth. It shows that mere increase of the number of small and medium enterprises is not as important for positive effects of these programs, as qualitative improvements: development of favorable environment for growth, which is largely determined by business climate. Accelerating productivity growth involves redistribution of labor and capital from inefficient to efficient enterprises. In particular, it is necessary to create conditions, which allow a firm to grow after it enters the market instead of stagnating as a small firm with low efficiency. At the same time, it is necessary for ineffective firms, which exhausted their growth potential, to have an opportunity to exit the market easily leaving resources including labor to fast-growing companies.
About the Authors
Evguenia V. Bessonova
Bank of Russia; HSE University
Russian Federation
Moscow
Russian Federation
Moscow
Alexander G. Morozov
Bank of Russia
Russian Federation
Moscow
Russian Federation
Moscow
Natalia A. Turdyeva
Bank of Russia
Russian Federation
Moscow
Russian Federation
Moscow
Anna N. Tsvetkova
Bank of Russia
Russian Federation
Moscow
Russian Federation
Moscow
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Review
For citations:
Bessonova E.V., Morozov A.G., Turdyeva N.A., Tsvetkova A.N. Opportunities for accelerating labor productivity growth: The role of small and medium enterprises. Voprosy Ekonomiki. 2020;(3):98-114. (In Russ.) https://doi.org/10.32609/0042-8736-2020-3-98-114
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