Full Article: PDF
Scientific Object Identifier: http://s-o-i.org/1.1/TAS-02-94-45
DOI: https://dx.doi.org/10.15863/TAS.2021.02.94.45
Language: Russian
Citation: Alizada, G. I. (2021). Labor productivity as a factor of sustainable growth in Azerbaijan. ISJ Theoretical & Applied Science, 02 (94), 201-210. Soi: http://s-o-i.org/1.1/TAS-02-94-45 Doi: https://dx.doi.org/10.15863/TAS.2021.02.94.45 |
Pages: 201-210
Published: 28.02.2021
Abstract: The impact of labor productivity on the sustainable economic growth of Azerbaijan and the development of measures to increase it are explored in this article. As the methods of this research, the method of structural and logical modeling, concentration and abstraction was applied. Evaluating the opinions and views of scientists on the factors and causes of growth in labor productivity, a critical analysis was applied. The systematization and analysis of the classical, neoclassical, Keynesian and monetarist schools, emphasizing the importance of the factor of labor productivity in their theories, made it possible to reveal the concept of labor productivity, as well as to identify the factors that contribute to highly productive labor. The phenomenon of labor productivity in Azerbaijan in the context of its sustainable economic growth in modern economic conditions has been investigated. The relationship between labor productivity and GDP growth, the standard of living of the population and the economic efficiency of the country as a whole has been substantiated. Topical issues of employment and unemployment in Azerbaijan, their impact on the volume of gross production and the achievement of macroeconomic stabilization have been studied. The ways of identifying reserves of labor productivity growth in connection with the need to accelerate innovation and structural reforms, improve the investment climate in the country and raise living standards are revealed.
Key words: labor productivity, unemployment, employment, sustainable growth, GDP, Okun's law, economic development, energy resources, macroeconomic stabilization.
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