title: Mechanisms for achieving decent wage in the Russian economy
metadata.name: dc.contributor.author
metadata.value: Veredyuk, Olesya V.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Sychenko, Elena V.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2024-03-27T17:57:24Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2024-03-27T17:57:24Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2024-03
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Veredyuk, O. V. and Sychenko, E. V. (2024) ‘Mechanisms for achieving decent wage in the Russian economy’, St. Petersburg University Journal of Economic Studies, 40 (1), pp. 36–57. https://doi.org/10.21638/spbu05.2024.102 (In Russian)
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu05.2024.102
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/45146
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: The article analyzes the new rules for setting minimum wage, introduced in 2020 in Russia
  in terms of how they contribute to achieving the decent wage in accordance with the current
  norms of international and Russian labour law. Minimum wage, while remaining a popular
  tool for regulating the wage floor, has undergone radical changes in 2020, which affected the
  basis for its calculation, the level and the frequency of its revision, as well as data sources. The
  completion of the first year cycles of the new rules for calculating the minimum wage and the
  stress test of 2022–2023 make it possible to assess the practice of their implementation. We assess the observed and projected effects of the new minimum wage methodology in relation
  to the norms of international documents (such as the Convention concerning the Minimum
  Wage of the International Labor Organization, the European Social Charter, the International
  Covenant on Economic, Social and Cultural Rights, as well as the Charter of Social Rights and
  Guarantees of Citizens of Independent States). The article gives special attention to the milestones
  in the development of legislative regulation of the minimum wage in modern Russia.
  Basing on positive economic analysis, we conclude that the changes in the rules for calculating
  the minimum wage have reduced its sensitivity to inflation and broken the link with the costs
  necessary to maintain the reproduction of human capital of the employee and her household.
  In this research, we have confirmed the hypothesis that the new rules for calculating the minimum
  wage are poorly favorable to the implementation of decent work as one of the declared
  national development goals of the country for the period up to 2030. We propose alternatives
  to reform the minimum wage in the direction of promoting the growth of real incomes of
  workers and members of their households. We stress the need to establish a stronger dialogue
  between the state and other stakeholders when developing effective solutions to achieve decent
  wages in terms of transformation of economy.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: St Petersburg University Journal of Economic Studies;Volume 40; Issue 1
metadata.lang: -
metadata.name: dc.subject
metadata.value: minimum wage
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: minimum wage setting
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: institutional framework
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: social policy priorities
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: labor law
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: decent wage
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: decent work
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Mechanisms for achieving decent wage in the Russian economy
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 02.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/45146/1/02.pdf
resources.format: Adobe PDF
resources.size: 828,4 kB