Journal of Applied Economic Research
ISSN 2712-7435
Inclusive economic growth through employment and income: Experience of the Russian Federation
Olga V. Zabelina, Maria V. Sergeeva
All-Russian Research Institute of Labor of the Ministry of Labor and Social Protection of Russia, Moscow, Russia
Abstract
The COVID-19 pandemic has affected all areas of society. Among the most tangible consequences of the “coronacrisis” in Russia, one can single out a decrease in the number of employed people and a drop in incomes of the population in 2020. The high speed of the spread of the coronavirus has determined the need for the introduction of prompt measures to combat COVID-19, as well as supportive measures for both the population and businesses. Despite the scale and breadth of the measures of state support implemented in 2020, the question of methods for assessing their effectiveness is acute. The purpose of the study is to assess the inclusiveness of economic growth in the Russian Federation in the context of COVID-19 in the areas of state support for employment and income of the population. The following hypotheses are being tested: 1) the inclusiveness of economic growth in terms of employment and income of the population has decreased in the context of the COVID-19 pandemic; 2) measures of state support for employment and incomes of the population made it possible to mitigate the drop in the value of the inclusiveness of economic growth. A new approach to analyze the effectiveness of public policy measures is suggested, on the basis of the author's dynamic approach to assessing the inclusiveness of economic growth. The proposed methodological approach is being tested for the case of analysis of the effect of state support measures in Russia in the context of the COVID-19 pandemic on employment and incomes of the population. The increase in state welfare funding in 2020 compared to the modeled value made it possible to reduce the level of decline in the inclusiveness of economic growth (by 0.16 points), as a result of which this indicator in the areas of employment and income of the population decreased in 2020 by only 0.11 points. The results indicate relative effectiveness of the support measures adopted by the government that showed in mitigating the pandemic-induced fall in the inclusiveness of economic growth in 2020. The hypotheses under study were confirmed. The practical significance of this study lies in the proposal of a new dynamic approach to assessing the inclusiveness of economic growth, which can be used as a tool for assessing the effectiveness of the state policy pursued both at the federal and regional levels.
Keywords
employment; household income; pandemic; COVID-19; support measures; government support; inclusiveness; inclusive economic growth.
JEL classification
O47References
1. Rammelt, C.F., Gupta, J. (2021). Inclusive is not an adjective, it transforms development: A post-growth interpretation of Inclusive Development. Environmental Science and Policy, Vol. 124, 144–155. DOI: 10.1016/j.envsci.2021.06.012.
2. Fanning, A.L, O’Neill, D.W., Büchs, M. (2020). Provisioning systems for a good life within planetary boundaries. Global Environment Change, Vol. 64, 102135. DOI: 10.1016/j.gloenvcha.2020.102135.
3. Kurniawan, R., Sugiawan, Y., Managi, S. (2021). Economic growth – environment nexus: An analysis based on natural capital component of inclusive wealth. Ecological Indicators, Vol. 120, 106982. DOI: 10.1016/j.ecolind.2020.106982.
4. Arrow, K.J., Dasgupta, P., Goulder, L.H., Mumford, K.J., Oleson, K. (2012). Sustainability and the measurement of wealth. Environment and Development Economics, Vol. 17, Issue 3, 317–353. DOI: 10.1017/S1355770X12000137.
5. Collins, R.D., Selin, N.E., de Weck, O.L., Clark, W.C. (2017). Using inclusive wealth for policy evaluation: Application to electricity infrastructure planning in oil-exporting countries. Ecological Economics, Vol. 133, 23–34. DOI: 10.1016/j.ecolecon.2016.11.013.
6. Fenichel E.P., Abbott J.K., Bayham J., Boone W. et al. (2016). Measuring the value of groundwater and other forms of natural capital. Proceedings of the National Academy of Sciences of the United States of America, Vol. 113, Issue 9, 2382–2387. DOI: 10.1073/pnas.1513779113.
7. Sugiawan, Y., Kurniawan, R., Managi, S. (2019). Are carbon dioxide emission reductions compatible with sustainable well-being? Applied Energy, Vol. 242, 1–11. DOI: 10.1016/j.apenergy.2019.03.113.
8. Mumford, K.J. (2016). Prosperity, Sustainability and the Measurement of Wealth: Prosperity, Sustainability and the Measurement of Wealth. Asia and the Pacific Policy Studies, Vol. 3, Issue 2, 226–234. DOI: 10.1002/app5.132.
9. Mamedov, O.Iu. (2017). Ekonomika inkliuzivnoi tsivilizatsii (Economy of inclusive civilization). Terra Economicus, Vol. 15, No. 3, 6–18. DOI: 10.23683/2073-6606-2017-15-3-6-18. (In Russ.).
10. Rouse, M., Lapham, K. (2013). Dolgii put navstrechu inkliuzii (The long road to inclusion). Zhurnal issledovanii sotsialnoi politiki (The Journal of Social Policy Studies), Vol. 11, No. 4, 439–456. (In Russ.).
11. Khusnutdinova, M.R. (2018). Osnovnye modeli razvitiia inkliuzivnogo obrazovaniia v Moskve (Basic Models for the Development of Inclusive Education in Moscow). Obrazovanie i nauka [The Education and Science Journal], Vol. 20, No. 9, 115–138. DOI: 10.17853/1994-5639-2018-9-115-138. (In Russ.).
12. Akhmetova, D.Z., Artiukhina, T.S., Bikbaeva, M.R., Sakhnova, I.A., Suchkov, M.A., Zaytseva, E.A. (2020). Tsifrovizatsiia i inkliuzivnoe obrazovanie: tochki soprikosnoveniia (Digitalization and Inclusive Education: Common Ground). Vysshee obrazovanie v Rossii (Higher Education in Russia), Vol. 29, No. 2, 141–150. DOI: 10.31992/0869-3617-2020-29-2-141-150. (In Russ.).
13. Novikov, A.I., Vitkina, M.K. (2018). Inkliuzivnaia ekonomika i sotsialnaia otvetstvennost' v regionakh mira: dilemma ili obshchestvennoe soglasie (Inclusive economy and social responsibility in the regions of the world: dilemma or public consent). Regionalnaya ekonomika i upravlenie (Regional economics and management), No. 2 (54), 5401. Available at: eee-region.ru/article/5401/. (In Russ.).
14. Kurnysheva, I.R. (2019). Konkurentosposobnost rossiiskoy ekonomiki: evoliutsiia, struktura i perspektivy (Competitiveness of the Russian economy: evolution, structure and prospects). Vestnik Instituta ekonomiki Rossiiskoi akademii nauk (Bulletin of the IE RAS), No. 4, 36–53. DOI: 10.24411/2073-6487-2019-10044. DOI: 10.24411/2073-6487-2019-10044. (In Russ.).
15. Halkos, G., Moll de Alba, J., Todorov, T. (2021). Economies’ inclusive and green industrial performance: An evidence based proposed index. Journal of Cleaner Production, Vol. 279, 123516. DOI: 10.1016/j.jclepro.2020.123516.
16. López-Guzmán, T., Orgaz-Agüera, F., Marmolejo Martín, J.A., Ribeiro, M.A. (2016). The all-inclusive tourism system in Cape Verde islands: The tourists' perspective. Journal of Hospitality and Tourism Management, Vol. 29, 9–16. DOI: 10.1016/j.jhtm.2016.04.009.
17. Gillovic, B., McIntosh, A., Cockburn-Wootten, Ch., Darcy, S. (2018). Having a voice in inclusive tourism research. Annals of Tourism Research, Vol. 71, 54–56. DOI: 10.1016/j.annals.2017.12.011.
18. Tong, X., Wang, T., Chen, Y., Wang, Y. (2018). Towards an inclusive circular economy: Quantifying the spatial flows of e-waste through the informal sector in China. Resources, Conservation and Recycling, Vol. 135, 163–171. DOI: 10.1016/j.resconrec.2017.10.039.
19. Zemlyanskaya, E.V., Dyakova, E.Iu., Spirina, L.V., Stasiuk, E.S., Varlamova, N.V., Galyamova, L.Sh. (2019). Analiz vozmozhnostei dlia razvitiia inkliuzivnogo turizma v Tomske (Analysis of Opportunities for the Development of Inclusive Tourism in Tomsk). Vestnik Tomskogo gosudarstvennogo universiteta [Bulletin of Tomsk State University], No. 445, 178–181. DOI: 10.17223/15617793/445/26. (In Russ.).
20. Maltsev, A.A., Maltseva, V.A. (2018). Inkliuzivnyi ekonomicheskii rost kak sposob povysheniia globalnoi proizvoditelnosti (obzor doklada OESR «Sviaz' proizvoditelnosti s inkliuzivnostyu») (Inclusive Economic Growth in Enhancing Global Productivity. Review of OECD Report “The Productivity-Inclusiveness Nexus”). Vestnik mezhdunarodnykh organizatsii: obrazovanie, nauka, novaia ekonomika (International Organisations Research Journal), Vol. 13, No. 4, 272–279. DOI: 10.17323/1996-7845-2018-04-13. (In Russ.).
21. Antonova, V.K., Prisiazhniuk, D.I., Riabichenko, T.A. (2021). Kreativnyi effekt, investitsii i inkliuziia kak norma zhizni: ustanovki hr-menedzherov Rossii v otnoshenii inkliuzivnogo trudoustroistva (Investment and Inclusion as a Norm of Life: Attitudes of Russian HR-managers To Inclusive Employment). Zhurnal issledovanii sotsialnoi politiki (The Journal of Social Policy Studies), Vol. 19, No. 3, 373–388. DOI: 10.17323/727-0634-2021-19-3-373-388. (In Russ.).
22. Bjørnshagen, V., Ugreninov, E. (2021). Labour market inclusion of young people with mental health problems in Norway. Alter, Vol. 15, Issue 1, 46–60. DOI: 10.1016/j.alter.2020.06.014.
23. Jeyacheya, J., Hampton, M.P. (2020). Wishful thinking or wise policy? Theorizing tourism-led inclusive growth: Supply chains and host communities. World Development, Vol. 131, 104960. DOI: 10.1016/j.worlddev.2020.104960.
24. Anand, R., Mishra, S., Peiris, S.J. (2013) Inclusive Growth: Measurement and Determinants. IMF Working Paper. WP/13/135. International Monetary Fund. Available at: www.imf.org/external/pubs/ft/wp/2013/wp13135.pdf.
25. Munira, F., Ullah, S. (2018). Inclusive Growth in Pakistan: Measurement and Determinants of Inclusive Growth. The Pakistan Journal of Social Issues, Special Issue, 150–162. Available at: uog.edu.pk/downloads/journal/14_Inclusive_Growth_in_Pakistan_Measurement_and_Determinants_150-162.pdf.
26. Ramos, R., Ranieri, R., Lammens, J. (2013). Mapping inclusive growth. International Policy Centre for Inclusive Growth. Working Paper No. 105. International Policy Centre for Inclusive Growth, 55 р. Available at: ipcig.org/pub/IPCWorkingPaper105.pdf.
27. Beatty, C., Crisp, R., Gore, T. (2016). An Inclusive Growth Monitor for Measuring the Relationship Between Poverty and Growth. Joseph Rowntree Foundation. Available at: www4.shu.ac.uk/research/cresr/sites/shu.ac.uk/files/inclusive-growth-monitor-poverty-growth_0.pdf.
28. Fu, X., Bao, Q., Xie, H., Fu, X. (2020). Diffusion of industrial robotics and inclusive growth: Labour market evidence from cross country data. Journal of Business Research, Vol. 122, 670–684. DOI: 10.1016/j.jbusres.2020.05.051.
29. Sharafutdinov, R.I., Akhmetshin, E.M., Polyakova, A.G., Gerasimov, V.O., Shpakova, R.N., Mikhailova, M.V. (2019). Inclusive growth: A dataset on key and institutional foundations for inclusive development of Russian regions. Data in Brief, Vol. 23, 103864. DOI: 10.1016/j.dib.2019.103864.
30. Bhuyan, B., Sahoo, B.K., Suar, D. (2020). Nutritional status, poverty, and relative deprivation among socio-economic and gender groups in India: Is the growth inclusive? World Development Perspectives, Vol. 18, 100180. DOI: 10.1016/j.wdp.2020.100180.
31. Che Sulaiman, N.F., Ab-Hamid, M.F., Ridzuan, A.R. (2021). Inclusive Growth: Comprehensive Dimension of Income Distribution. Ekonomika Regiona [Economy of Region], Vol. 17, Issue 1, 301–317. DOI: 10.17059/ekon. reg.2021-1-23.
32. Carayannis, E., Grigoroudis, E. (2016). Quadruple Innovation Helix and Smart Specialization: Knowledge Production and National Competitiveness. Foresight and STI Governance, Vol. 10, No. 1, 31–42. DOI: 10.17323/1995-459x2016.1.31.42.
33. Platonova, E.D., Musarsky, M.M. (2018). Vsemirnoe dvizhenie za obrazovanie dlia vsekh kak faktor razvitiia mirovoi ekonomiki (The Worldwide Movement for Education for All as a Factor of the Development of the World Economy). Ekonomicheskii zhurnal (Russian Economic Journal), No. 3 (51), 108–120. (In Russ.).
34. Whajah, J., Bokpin, G.A., Kuttu, S. (2019). Government size, public debt and inclusive growth in Africa. Research in International Business and Finance, Vol. 49, 225–240. DOI: 10.1016/j.ribaf.2019.03.008.
35. Amponsah, M., Agbola, F.W., Mahmood, A. (2021). The impact of informality on inclusive growth in Sub-Saharan Africa: Does financial inclusion matter? Journal of Policy Modeling, Vol. 43, Issue 6, 1259–1286. DOI: 10.1016/j.jpolmod.2021.03.009.
36. Kolawole, B.O. (2021). Debt, COVID-19 and Inclusive Growth for Sustainable Development in Sub-Saharan Africa. Management and Economics Research Journal, Vol. 3, No. 2, 104–134. DOI: 10.48100/merj.2021.161.
37. Gupta, J., Bavinck, M., Ros-Tonen, M., Asubonteng, K. et al. (2021). COVID-19, poverty and inclusive development. World Development, Vol. 145, 105527. DOI: 10.1016/j.worlddev.2021.105527.
38. White, C., Vahé, N. (2020). Coronavirus (COVID-19) related deaths by ethnic group, England and Wales. Office for National Statistics. Available at: www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/deaths/articles/coronavirusrelateddeathsbyethnicgroupenglandandwales/2march2020to10april2020.
39. Moore, H., Collins, H. (2021). Rebuilding the post-Covid-19 economy through an industrial strategy that secures livelihoods. Social Sciences and Humanities Open, Vol. 3, Issue 1, 100113. DOI: 10.1016/j.ssaho.2021.100113.
40. Xiang, L., Tang, M., Yin, Zh., Zheng, M. (2021). The COVID-19 Pandemic and Economic Growth: Theory and Simulation. Frontiers in Public Health, Vol. 9, 741525. DOI: 10.3389/fpubh.2021.741525.
41. Zabelina, O.V., Sergeeva, M.V. (2021). Vosstanovlenie zaniatosti i dokhodov naseleniia do dopandemicheskogo urovnia: kontent-analiz regional'nykh programm (kompleksov mer) (Restoring employment and incomes of the population to the pre-pandemic level: content analysis of regional programs (packages of measures)). Sotsialno-trudovye issledovaniia (Social and Labour Research), No. 4 (45), 41–50. DOI: 10.34022/2658-3712-2021-45-4-41-50. (In Russ.).
About Authors
Olga Victorovna Zabelina
Doctor of Economics, Professor, Head of the Laboratory for Strategic Studies of Social and Labor Relations, All-Russian Research Institute of Labor of the Ministry of Labor and Social Protection of Russia, Moscow, Russia (105064, Moscow, Zemlyanoi Val street, 34, str. 1); ORCID 0000-0001-7723-2852; e-mail: Zabelina_OV@vcot.info.
Maria Vyacheslavovna Sergeeva
Candidate of Economic Sciences, Junior Researcher, Laboratory for Strategic Studies of Social and Labor Relations, All-Russian Research Institute of Labor of the Ministry of Labor and Social Protection of Russia, Moscow, Russia (105064, Moscow, Zemlyanoi Val street, 34, str. 1); ORCID 0000-0002-2026-325X; e-mail: msergeeva@vcot.info.
For citation
Zabelina O.V., Sergeeva M.V. Inclusive economic growth through employment and income: Experience of the Russian Federation. Journal of Applied Economic Research, 2022, Vol. 21, No. 1, 21-48. DOI: 10.15826/vestnik.2022.21.1.002.
Article info
Received January 17, 2022; Revised February 15, 2022; Accepted March 10, 2022.
DOI: http://dx.doi.org/10.15826/vestnik.2022.21.1.002
Download full text article:
~654 KB, *.pdf
(Uploaded
05.04.2022)
Created / Updated: 2 September 2015 / 20 September 2021
© Federal State Autonomous Educational Institution of Higher Education «Ural Federal University named after the first President of Russia B.N.Yeltsin»
Remarks?
select the text and press:
Ctrl + Enter
Portal design: Artsofte
Contact us
Rector's Office
Rector, Dr. Victor Koksharov
Tel. +7 (343) 375-45-03, e-mail: rector@urfu.ru
Vice-Rector for International Relations, Dr. Maxim Khomyakov
Tel. +7 (343) 375-46-27, e-mail: Maksim.Khomyakov@urfu.ru