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Setting of Minimal Wages: Foreign Experience and Russian Practice

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Rubric: Economy, Economic Theory
DOI: 10.20542/0131-2227-2011-2-24-35

E. Efimova, Council for Study of Productive Forces, 7, Vavilova Str., Moscow, 117997, Russian Federation (ritamargo@rambler.ru)

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Abstract. The paper examines and compares the systems of minimum wage settings existing in foreign countries and the Russian Federation. The comparisons are made in the following directions: methods of minimum wage setting, coverage of the employees, frequency of adjustment and availability of sub-minimum rates for young workers. As a result of this analysis the author offers recommendations how to improve the mechanism for setting minimum wages in the Russian Federation at whole and its particular regions.

Keywords: labor market, minimum wage, social standards, employment, competitiveness, reproduction of the labor force


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For citation:
Efimova E. Setting of Minimal Wages: Foreign Experience and Russian Practice. World Eсonomy and International Relations, 2011, no. 2, pp. 24-35. https://doi.org/10.20542/0131-2227-2011-2-24-35

Contents World Eсonomy and International Relations. 2011, no. 2

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