PRECONDITIONS FOR MANAGEMENT IMPACTON LABOR MARKETS IN CASE OF COVID-19 NEGATIVE EXTERNALITY: BY THE EXAMPLE OF RUSSIA AND BRAZIL
DOI:
https://doi.org/10.22394/2304-3369-2021-1-75-87Keywords:
labor market, Russia, Brazil, COVID-19, negative externality, labor market failures.Abstract
The paper reveals the preconditions for labor markets transformation in Russia and Brazil in the context of modern external influence. It is emphasized that such a comparison of two markets, a priori different in the dynamics of development, is important for assessing the degree of influence of negative externalities, which are focused on the social sphere. One of the analyzed labor markets – the Russian labor market – has reached the point of its saturation, while the other labor market – the Brazilian labor market – is characterized by the long-term and rapid growth of certain parameters that play a crucial role in the context of labor market mechanisms.
The scientific goal of the study is to determine the notion of negative externality of COVID-19 in order to describe the conditions for transformation of two labor markets different in socio-economic preconditions and development potentials.
The methodological basis of this research is the theoretical works of both modern and classical authors, revealing the issues of the emergence and impact of negative externalities on the development of socio- economic processes in general and the labor market in particular.
The material for the study is the Russian and international databases of official statistics presenting both general trends in labor markets and the latest modifications caused by the COVID-19 pandemic.
As a result, the study reveals current tendencies in the transformation of the labor markets characteristics typical of the two countries according to the main indicators of the market mechanisms; it also describes and compares these tendencies emphasizing the main similarities and differences between the markets; it singles out several factors that can influence the situation and provides predictive evaluation of the outcomes. The revealed tendencies in the development of the analyzed markets are determined from the standpoint of their sustainability under the conditions of negative externalities of the COVID-19 pandemic. Measures that are taken and could be taken in terms of managerial influence are described with regard to the official documents of these countries in the sphere of labor market management. The prognostic focus of certain managerial tools influencing the labor markets is summarized.
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