Tula, Tula, Russian Federation
The work assesses trends in the efficiency of the economy of modern Russia and assesses the impact of wages and accumulated fixed capital on production efficiency. Production efficiency was assessed by return on assets. Factors of production were assessed by the growth rate of wages, their excess over the growth rate of labor productivity, and the growth rate of accumulated fixed capital. Econometric methods were used. It is shown that the main trend in the development of the Russian economy is a decrease in the profitability of assets and, accordingly, production efficiency. An increase in production efficiency by 40% can be achieved through an increase in wages and by 50% through an increase in accumulated fixed capital. Additionally, increased efficiency can be ensured by the rate of growth in wages exceeding the rate of growth in labor productivity.
wages, fixed capital, productivity, profitability, econometrics
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