| Abstract [eng] |
Wages remain one of the most relevant factors from both microeconomic and macroeconomic perspectives. The aim of the research is to assess the influence of external factors on the average wage in the Baltic States and within individual sectors of economic activity. The study analyzes the period from 2011 to 2023, including significant macroeconomic developments such as the COVID-19 pandemic and the war in Ukraine. The novelty of the research lies in its cross-country (Lithuania, Latvia, Estonia) and sectoral analysis. The research includes an expert survey, dynamic analysis of selected indicators, and uses correlation and regression analysis methods to reveal the impact of such external factors as GDP, minimum wage (MW), unemployment, foreign direct investment (FDI), inflation, employment of higher-educated personnel, and tax policy on the average wage in individual Baltic countries, in the Baltic region as a whole, and in different economic activity sectors (based on NACE classifications). Research aim: To identify external factors influencing wages and assess how these factors affect the average wage in the Baltic States, considering different economic activity sectors. Research objectives: 1. After reviewing the scientific literature, to assess the concept, structure, forms, and systems of remuneration from a theoretical perspective. 2. Based on the analysis of previous scientific studies, to develop a methodology for evaluating the impact of external factors on the average wage in the Baltic States. 3. To conduct a study on the influence of external factors on the average wage in the Baltic States, evaluating this impact separately for each country, for the entire group of countries, and within the context of different types of economic activities. Research methods: A comparative and systematic analysis and synthesis of scientific literature is conducted to conceptualize the structure, forms, and determinants of wages. To complement the literature analysis, an expert survey is carried out, followed by a dynamic and regression analysis of selected factors. Data processing involves systematization, grouping, and generalization techniques. Structure of the thesis: The master's thesis consists of an introduction, three main chapters, conclusions, a list of references, and appendices. The first part conducts a scientific literature review, conceptualizing the notion of remuneration, discussing its structure and forms, identifying the factors influencing remuneration, and evaluating the methodological characteristics of previous scientific studies. The second part of the thesis, based on the literature analysis, develops the research methodology, detailing the research stages (expert survey, dynamic and regression analysis of average remuneration and its influencing external factors for the period 2011–2023), justifying the sample and period, and specifying the indicators affecting remuneration. The third part evaluates the factors that significantly influence average remuneration in Lithuania, Latvia, and Estonia, assesses the impact of these factors on the Baltic countries as a group, and considers the influence of identified variables on different sectors of economic activity. The results show that average wages in Lithuania are influenced by inflation, minimum wage, and employment; in Latvia – by foreign direct investment and employment; and in Estonia – by GDP and inflation. In the Baltic States as a group, average wages are mainly influenced by minimum wage and GDP. Sectoral analysis reveals that these factors have varying effects on wages across countries. |
