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Setting of Minimal Wages: Foreign Experience and Russian Practice

365
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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