Inside the black box: compensation structures of efficient Yugoslavian firms (original) (raw)

The paper explores the influential factors behind labor productivity in Yugoslavian firms, emphasizing the significance of the internal structure and worker dynamics rather than just external capital and resource inputs. It critiques traditional economic theories that overlook the social aspects of the workplace, proposing that worker satisfaction and participation can enhance productivity. An econometric analysis of a unique dataset from the 1975-79 period highlights the importance of variables such as labor compensation, skill levels, and training in understanding productivity outcomes.