DETERMINANTS OF WAGES IN THE MODERN LABOUR MARKET: A LITERATURE REVIEW
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https://doi.org/10.5281/zenodo.18150776##article.subject##:
Wage determination; labour market; human capital; digitalization; institutional factors; wage inequality##article.abstract##
This article presents a systematic review of theoretical and empirical literature on wage determination in
contemporary labour markets, with a particular focus on CIS region and transitional economic contexts. The study
examines how classical human capital models, labour market imperfections, technological change, and institutional
frameworks have been employed to explain wage formation and the persistence of wage inequality.
The review synthesises existing research with particular attention to the roles of education, work experience, digitalisation,
gender, regional disparities, and occupational legacies inherited from the Soviet period. It further examines how external
economic shocks—including global financial crises, geopolitical uncertainty, and the COVID-19 pandemic—have been
incorporated into empirical analyses of wage dynamics.
Methodologically, the article adopts a structured literature review approach, comparing theoretical perspectives and
empirical findings across multiple strands of labour economics research. Wage determination is conceptualised as an
outcome shaped not only by individual productivity characteristics but also by institutional design, firm-level wage-setting
practices, and broader structural conditions.
The novelty of the article lies in consolidating fragmented strands of the literature into an integrated analytical framework
that highlights digital exclusion and institutional inertia as underexplored mechanisms of wage inequality in Russia.
By systematising existing evidence, the review contributes to a deeper understanding of labour market dynamics in
transitional economies and provides a conceptual foundation for future empirical research and policy-oriented analysis
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Загрузки
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