Use this URL to cite or link to this record in EThOS: http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.550335
Title: Wage and employment determination in Russia and central Asia
Author: Aliev, Umid Farhodovich
Awarding Body: University of Leeds
Current Institution: University of Leeds
Date of Award: 2011
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Abstract:
The political and economic fall of the socialist bloc in the late 1980s and the disintegration of the USSR in 1991 triggered the process of political and economic transformation from planned to market-based economies in over 20 countries in Eastern Europe, Caucasus, and Central Asia. One of the important aspects of the political and economic reforms was that they led to substantial changes in wage and employment determination in enterprises. In particular, prominent features of the Soviet economic system - administratively determined wages and full employment - were abolished with the end of the USSR. New, independent states had to create new systems, where market forces were to be given a bigger role than before. These changes profoundly altered employment relations and completely changed the processes of wage determination. However, it is not completely clear what we have at the end. In this thesis we try to establish if the labour markets in Russia and Central Asia are likely to have features of a competitive labour market or those of a monopsonistic labour market. Detailed analysis of the stylized facts and characteristic features indicates that the monopsonistic market structure is more relevant than the competitive market structure. We have undertaken an empirical test of this proposition. The estimation results indicate the presence of some evidence indicating that the labour markets in Russia and Central Asia are likely to be monopsonisitc. This conclusion has important policy implications because in a monopsonisitc market structure market interventions like unemployment benefits or minimum wages may improve efficiency. In contrast, in a competitive labour market these market interventions are not welcome due to the prediction that they reduce efficiency. We also examine if the firms with different ownership structures differ in their wage and employment decisions. Our estimation results report substantial differences in wage and employment determination across firms with different ownership structures.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID: uk.bl.ethos.550335  DOI: Not available
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