Economy, finances, management: Topical issues of science and practical activity


Issue №: 3(43)

Published: 2019.08.06
DOI: 10.37128/2411-4413-2019-3

The magazine deals with the problems of the agricultural sector of the economy in the context of integration and processes of globalization. Attention is paid to the issues of development of digital economy, rural territories, technologies of enterprise management and organization of accounting, problems of legal support of economic processes, market tendencies of development of various branches of economy. Particular attention is paid to green tourism as a promising segment of the national economy.

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DOI: 10.37128/2411-4413-2019-3-3
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JEKABSONE Sandra – Doctor of Economics, Professor of the Department of Economics, Faculty of Business, Management and Economics, University of Latvia (LV1050, Riga, Aspazijas blv.5, room 330, e-mail: sandra.jekabsone@lu.lv).


JEKABSONE Sandra – Doctor of Economics, Professor of the Department of Economics, Faculty of Business, Management and Economics, University of Latvia (LV1050, Riga, Aspazijas blv.5, room 330, e-mail: sandra.jekabsone@lu.lv).In the article the dynamics of labour productivity in Latvia was analyzed and the factors which have influenced the labour productivity in last 5 years were detected, to compare the productivity in Latvia with EU average. Analysing changes in productivity and labour costs in Latvia from 2013 till 2017, we can see that growth of labour costs exceeds the growth of productivity by more than 2 times in both, tradable sector and total economy. Slow growth in productivity compared with the labour and other production expenses lead to an increase in the price of final goods and services, which negatively corresponds with producers’ competitiveness in both internal and external market. Also, the attention is focused on how to increase productivity growth potential and improve the competitiveness of Latvia. One of the main challenges for Latvia is the creation of new competitive advantages that are associated with investments in the latest technologies, innovation, research, human capital, efficient allocation of resources and redistribution that comes with the behavioural changes of economic subjects. The main conclusion of the research shows, that two mutually interconnected processes determine increase of productivity level. First, they are the entrepreneurs’ choices about competitive advantages on which their business strategies are based, which define the business management and technological decisions (to modernize production or to move resources across sectors, to other region or even other country). Second, it is the ability of the country to ensure the reallocation of its resources to the most productive firms and sectors, i.e. to promote structural reforms or “technological upgrading”.

Keywords: labour productivity, labour costs, production expenses, economic growth, competitiveness

List of references
  1. Brill M., Holman C., Morris C., Raichoudhary R. (2017). Understanding the Labor Productivity and Compensation Gap. Beyond the Numbers: Productivity, U.S. Bureau of Labor Statistics, vol. 6, no. 6, 14 p.
  2. Economic Development of Latvia 2018, Ministry of Economics Republic of Latvia, Rīga, 2018, 154 p.
  3. Eurostat, 2019. Statistic Database. [Online] Available at: http://ec.europa.eu/eurostat/data/database.
  4. Jekabsone S., Skribane I., Priede J., Skapars R. (2017). Productivity and its Impact on the Competitiveness of Latvia. European Research Studies Journal, Vol. 20, No. 3A, p. 920930. DOI: 10.35808/ersj/754
  5. Jekabsone S., Skribane I. (2018). Productivity Trap in Latvia, European Integration Studies, No.12, p. 92-103. DOI: https://doi.org/10.5755/j01.eis.0.12.21871
  6. Measuring Productivity – OECD Manual: Measurement of Aggregate and IndustryLevel Productivity Growth, 2001. OECD, Paris, 156 p. https://doi.org/10.1787/9789264194519-en
  7. Priede, J., & Pereira, E. T. (2015). European Union’s Competitiveness and Export Performance in Context of EU – Russia Political and Economic Sanctions. Procedia - Social and Behavioral Sciences, 207, p. 680-689. https://doi.org/10.1016/j.sbspro.2015.10.138
  8. Readiness for the Future of Production Report 2018, World Economic Forum, 2018, 266 p.
  9. Regulation, institutions and productivity. New macroeconomic evidence from OECD countries, 2017. OECD, Paris: Economics department working papers, No. 1393, 28 p. https://doi.org/10.1787/579ceba4-en
  10. The Global Competitiveness Report 2018, WEF, 2018, 671 p. 
All journal issues

About journal

Topics of the journal:

051 Economics

071 Accounting and taxation

072 Finance, banking and insurance

073 Management

075 Marketing

076 Business, trade and exchange activities

241 Hotel, restaurant and catering 

281 Public administration


Key information:
ISSN (print): 2411-4413
DOI: 10.37128

The journal “Economy, finances, management: Topical issues of science and practice” is included in the "List of Scientific Professional Editions of Ukraine". 

The scientific edition is assigned the Category "Б" in the field of economics in specialties 051, 071, 072, 073, 075, 076, 241, 281

(Order of the Ministry of Education and Science of Ukraine No. 249, March 17, 2020).

The journal “Economy, finances, management: Topical issues of science and practice” has a Digital Object Identifier (DOI)

The journal “Economy, finances, management: Topical issues of science and practice” is indexed in such database as Index Copernicus Value (https://journals.indexcopernicus.com/search/form)


The editorial board of the journal is guided by the principles of scientific, objectivity, professionalism, informational support of the most significant innovative researches, observance of standards of publishing ethics.

The purpose of the journal "Economics, finances, management: Topical issues of science and practical activity» is the coverage of leading scientific ideas in the economic, financial and management activities of the sectors of the national economy and the involvement of representatives of the domestic and foreign scientific professional community.


Objectives of the journal:

  • publication of research findings on innovation in the economy, financial and management spheres, innovation of production processes;
  • expanding partnerships with international scientific publishing organizations;
  • enhancing the culture of reviewing and annotating published material;
  • adherence to editorial ethics.


Article publishing is a paid service. Cost for printing in professional publications in accordance with the Decree of the Cabinet of Ministers of Ukraine of August 27, 2010 No. 796 "On approval of the list of paid services that can be provided by state educational institutions, other institutions of the educational system belonging to state and communal ownership" and the order Rector of the Higher Education University Mazura VA dated March 14, 2018 No. 93 “On setting the cost of printing in professional editions of the University”.

The cost of printing one page in professional editions of the university is 60 UAH.

An additional copy of the magazine with the mailing list costs 450 UAH.

Recipient: Vinnytsia National Agrarian University MFO 820172 Current account No. 31256282102055 Code 00497236 Bank State Treasury Service of Ukraine, Kyiv. VAT payer code 004972302286. Registration number 100271744. Purpose of payment: for printing an article in the journal: ”Economy, finances, management: Topical issues of science and practical activity "

History of journal:

It was founded in 1997 under the name "Bulletin of the Vinnytsia State Agricultural Institute". In 2010-2014 he was published under the title “Collection of scientific works of Vinnitsa National Agrarian University”.

From 2015 ”Economy, finances, management: Topical issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 of PR as of December 31, 2014)

According to the decision of National Council of Television and Radio Broadcasting of Ukraine from 25.04.2024 No. 1337 the scientific journal «Economy, finances, management: topical issues of science and practical activity» has the ID of the Media R30-05171.