Industry 4.0
Vol. 4 (2019), Issue 4, pg(s) 187-190

Analysis of cross-country differentiation of conformity of wages and level of education

  • 1 School of Economics, Management and Environmental Studies – Siberian Federal University, Russia

Abstract

The early 21st century introduced a new market paradigm: a high level of education of the employed should ensure high productivity and correspond to a high level of wages. Countries with developed economies provide promising opportunities for education, but efficiency of human resources use is still different. Differentiation in the correlation between labor productivity and wages in the “high income” and “upper-middle income” countries is a fairly high. The efficiency improvement of national economies should be based on the diversification of the sectoral structures based on technologies that would replace labor with capital, ensure high wages and the demand for a sufficiently high level of education of employees.

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References

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