Management of Wage-To-Labor Productivity Correlation as a Factor of Samara Region Economic Development

Abstract

The paper considers the problems in management of the wage-to-labor productivity correlation as the most important element in the strategic development of Samara region economy. The rational correlation between labor productivity and wages growth affects production cost reduction, and increases profitability and production efficiency. This explains the relevance of the study on the wage-to-labor productivity correlation in the digital economy. The authors present the results of the research on the dynamics of labor productivity and wages in Samara region in 2010 – 2017. They calculated the correlation figures of average wages growth in Samara region economy, described the model and developed the mechanism to manage the wage-to-labor productivity correlation.