Institutional support of the inclusiveness of Ukrainian labor market

Abstract

The author substantiates a toolkit for ensuring the inclusiveness of the labor market. When considering the set of institutional entities, which, in the course of reconciliation of their own interests on the labor market contribute to its development and institutionalization, she proves that violation of their interaction causes a distortion of the institutional structure of labor market, throws the system out of balance and leads to risks and threats to labor application and the socio-economic sphere as a wholel. Since there are no reference institutions in their pure form, the contradictory combination of functions, norms and logic determines the functioning of hybrids of inclusive and extractive institutions. Thus, the labor market can be considered as a conglomeration of institutions with a set of inclusive and extractive features. The study found that the systemic problems of the labor market are institutional problems, such as imperfections and inconsistencies in the rules for implementing various components of economic policy (monetary, budgetary, tax, debt, employment ones and others). The scenario of riding out the crisis is also based on the introduction of the following institutional measures: adoption of legislative decisions and norms that shape an institutional field for minimizing the extractive features of the institutional structure and the formation of an inclusive labor market. The author substantiates various guidelines for ensuring the inclusiveness of the labor market development in the form of a theoretical construct, which defines the factors of influence, and specifies the tools and mechanisms for introducing innovative methods of state regulation in the field of employment.