International Labor Market Development under Global Economy Innovativeness: Structural Drivers and Institutional Imperatives

Анотація

The modern international labor market is undergoing a fundamental transformation due to the pressures of a global economy, technological innovation, and demographic shifts.A country's success in the global workforce is no longer determined by physical exertion but by the development of robust economic structures and institutions that can absorb advanced technologies.Purpose.This research aims to identify the specific structural and institutional determinants that drive international labor market development and labor productivity in both developed and emerging economies in the context of global innovativeness.Results.The study uses data from global financial organizations to identify divergent pathways for economic growth.Developed economies with rapidly aging populations (with an approaching 2:1 worker-to-retiree ratio in the EU) must prioritize national savings and fully funded pension systems to sustain capital deepening and technological innovation.Conversely, developing nations must focus on improving the cognitive abilities of their workforce and eliminating restrictive regulatory barriers, which currently lead to severe resource misallocation.Eliminating these institutional constraints and promoting technology transfer could boost Total Factor Productivity (TFP) by 30-60%.Conclusions.In order to navigate the modern global workforce, we must shift from consumption-driven to investmentdriven economic models.For transitional economies like Ukraine and the Republic of Moldova, this necessitates comprehensive pension reform and market deregulation to attract capital.It is important to emphasize that institutional readiness must precede the adoption of advanced, innovative policies.

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