engleski

The Importance of Local Embeddedness of Labour Market and Economic Development for Countries in Transition

The continuous rise of salaries in medium and poorly developed regions of Europe emerging from a long period of lagging in non-market economies, affected by the increasing labour mobility, opening towards global cultural and economic flows, and the tendency of demonstrative household consumption, increasingly reduces the differences in the price of labour in comparison to the most developed countries. Basing the competitive position on the difference in the price of labour is particularly difficult in the light of globalisation processes and the price of labour in many non-European countries, which is often less than one-tenth of the European salary.

social intitutions; local

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