Political Economy of Development of Modern Russia

Abstract

The paper is devoted to assessing trends in the distribution of income between labor and capital in modern Russia, the nature and prospects of these trends. The research was car-ried out using Rosstat data on the Russian economy and regional economic systems. The estimates were made based on the construction of linear econometric models obtained by regression analysis. The obtained results of the study indicate that in the distribution of Russia's GDP there was an increase in the share of capital and a decrease in the share of labor. This is due to the preservation of industrial development trends, despite the spread of post-industrial technological structures in the economy. In recent years, there has been a decrease in the impact of labor growth and capital growth on economic growth, a transition from extensive to intensive development, the basis of which is the growth of labor productivity due to the expanded use of human capital of highly quali-fied specialists - complex labor and new automated technologies - new capital. This pro-cess gives rise to contradictions observed in the labor market and manifested in a drop in unemployment, labor shortage and an increase in wages. The growth of wages is natural, since the use of new technologies, such as robotic systems, is economically feasible if the savings due to the costs of the released labor force are large enough. This determines the prospects for an increase in the share of labor in GDP. But to achieve this effect, ap-propriate institutional conditions are needed, which can be formed as a result of ade-quate economic policy.