LABOUR ECONOMICS AND SOCIAL POLICY IN THE CONTEXT OF EUROPEAN INTEGRATION

Анотація

Strengthening of international competitiveness is one of the priorities of economic development of both the leading countries in the world and growing economies. The issue of an effective policy for regulating social and labour relations under modern economic and demographic challenges is gaining priority as an integral component of a long-term growth strategy. The article is devoted to a comparative analysis of social policy and social and labour relations in Ukraine and European countries. The set of EU members was supplemented with Iceland, Norway and Switzerland. Shares of compensation of employees and government social expenditures in GDP were chosen as initial indicators. The study covered the period of 2021-2023. Empirical analysis did not reveal a significant correlation between initial indicators. In view of this, a non-parametric approach was used. According to it, a data convex hull was built for the data of every year. Unlike existing studies, the proposed article covered all parts of the hull. It was split into two pairs of mutually opposite international frontiers, each of which had its virtual extremum. The point of the maximum of both studied indicators was interpreted as the final state of simultaneous growth in total income of a population. The point of maximum compensation of employees and minimum government social expenditures was considered to be virtual maximum of the substitution of government social assistance with the employees' own incomes. Initial data were normalised using three methods. Two of them were classic ones - normalisation by half-differences of extreme values of initial indicators and normalisation by standard deviations from half-amounts of their extrema. The third method was new and consisted in normalisation by half-amounts of standard deviations from the extrema of initial indicators. The international position of countries in the field of social and labour relations was characterised by the difference in distances to opposite virtual extreme states. The dynamics of changes in the country's international position was analysed using two coefficients of the development efficiency in relevant directions. These coefficients were calculated as an increment of the difference in the country's distances to opposite virtual extrema, divided by the length of the path travelled by it during this period. For Ukraine in 2021-2022, both coefficients were positive, and in the next period they became negative. The comparison of distances calculated in three coordinate systems has confirmed the previous supposition that Z-standardisation should give estimates that are the largest by modulus, and the other two methods are quite close. Based on the proposed approach, it is possible to analyse the data averaged over several years, as well as other macroeconomic indicators. Such analysis can contribute to the optimisation of government socio-economic policy.

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