Sergey Drobyshevsky,, Principal Researcher at the Gaidar Institute, assessed the factors driving labor productivity growth worldwide and Russia's prospects relative to leading economies in a commentary for RBC.
Analyzing the leadership of Asian countries, the expert noted that the highest growth rates were shown by the fastest-growing developing economies with catch-up development..
Sergey Drobyshevsky separately pointed out the problems of resource-dependent models, explaining the decline in indicators in the oil monarchies of Saudi Arabia and the UAE: “With a high share of the service and extraction sectors in GDP, labor productivity tends to grow slowly or even begin to decline – this is precisely the problem faced by the oil monarchies.”
Speaking about ways to accelerate growth in Russia, the expert linked prospects to the implementation of government initiatives. He noted that the main investment and technological measures are already laid out in the national project “Labor Productivity,” including investments in new production facilities, robotization of production, and the development of the digital economy. “If everything is implemented according to plan, Russia is unlikely to catch up with the major developing economies in terms of growth rates, but in terms of absolute