The interactions between wages and productivity nurturing the country’s competitiveness

Abstract

Nowadays wages are determined according to the results of the work but the increase of salaries leads to the higher productivity and efficient work. Here is a strong interaction between wage and productivity, which leads to the country’s competitiveness development. The object of research – the interactions be-tween the wage and productivity. The goal of the article is to assess the influence of wage and productivity on the country’s competitiveness. In addition, the following tasks have been implemented: to analyse the theoretical aspects of productivity and wage; to reveal the connection between productivity and wage and to assess the influence of this interaction on the country’s competitiveness. In this article, the following methods of analysis are used: an analysis and summarize of the scientific literature, the theoretical and practical statements matching method, analysis of the statistical data, correlation and regression analysis.