PROSPECTS AND LIMITATIONS OF INCREASING LABOR PRODUCTIVITY IN THE RUSSIAN ECONOMY

Finding solutions aimed at increasing labor productivity, as the most important indicator of the social reproduction efficiency, remains to be a high nationwide priority and requires joint efforts of the government, scientific and business communities. This issue is particularly relevant to the Russian economy, considering all effects of an economic crisis and an aggravation of the geopolitical situation, as well as the ongoing globalization processes and arising challenges of the fourth industrial revolution. It shows that this issue is imperative for determining the country's future in terms of creating an independent and competitive economy. The methodology of the study is based on the systematic approach, methods of statistical and economic analysis of indicators of social and economic development of the Russian Federation, certain regions of the country and its industries. Application of the econometric model allowed to evaluate the relationships between labor productivity and particular factors that have influence on labor efficiency. The study includes the analysis of the modern trends related to the growth of labor productivity in economy of modern Russia; consideration of the existing potential of the Russian economy for increasing labor productivity and the role of internal constraining factors inhibiting the growth of labor efficiency; identification of the issues, related to the growth of high-performance workplaces, as one of the basic indicators of labor productivity of the Russian economy. Main provisions and conclusions of the article may be of interest to representatives of authorities, scientific and expert community, and also can be applied to research and teaching practices.