Please use this identifier to cite or link to this item: http://hdl.handle.net/20.500.12188/33488
Title: LABOR PRODUCTIVITY IN THE SELECTED SEE COUNTRIES: TRENDS AND DETERMINANTS
Authors: Trpeski, Predrag 
Kozheski, Kristijan 
Merdzan, Gunter 
Keywords: labor productivity
unemployment rate
Open Balkan initiative
Southeastern Europe
Issue Date: Apr-2024
Publisher: Ekonomski fakultet Univerziteta u Kragujevcu
Source: Trpeski, P., Kozheski, K., & Merdzan, G. (2024). LABOR PRODUCTIVITY IN THE SELECTED SEE COUNTRIES: TRENDS AND DETERMINANTS. Economic Horizons/Ekonomski Horizonti, 26(1).
Journal: Ekonomski horizonti
Series/Report no.: ISSN: 1450-863 X;
Abstract: This study examines labor productivity in the Open Balkan initiative countries (Albania, Serbia, and North Macedonia) and Southeastern Europe’s latest EU entrants (Bulgaria, Romania, and Croatia). In the study, macroeconomic and institutional factors, including the Gross National Income (GNI) per capita, the unemployment rate, the statutory minimum wage, and the labor freedom index are analyzed in relation to labor productivity. The study used econometric methods to identify the labor productivity determinants and discern the labor market differences between the two groups of countries. The key findings emphasize the pivotal role of economic development in Southeastern Europe, especially among the last EU entrants, fostering additional increases in labor productivity. The study reveals the significant influence of the labor freedom index on productivity, with nuanced implications for both groups of countries. Additionally, it highlights the tangible impact of the statutory minimum wage policies on labor productivity in the Open Balkan initiative countries, indicating potential shifts in the wage structures and broader economic landscapes. The interplay of variations in the unemployment rate emerges as a substantial factor shaping efficiency and overall productivity in the labor market across both groups. These findings provide valuable insights into the labor market complexities faced by the Open Balkan countries, underscoring the need to bridge the gaps for economic development catch-up.
URI: http://hdl.handle.net/20.500.12188/33488
Appears in Collections:Faculty of Economics 03: Journal Articles / Статии во научни списанија

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