Секция
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Экономика
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retail trade was associated primarily with the scale eff ect, which
implies that the higher level of production needs more labor, despite
the substitution caused by the technological advancements (Borjas,
2016). Considering that, the above graph indicates that the growing
salary and retail trade is naturally associated with the rising number
of employed workers in the country. On the other hand, by taking
into account the historical data on the country’s population and labor
force, we did not fi nd evidence of the labor force participation rate to
increase. It implies that in case of Kazakhstan, the growth of salary and
volume of retail trade boosted the working population number due to
the scale eff ect, rather than due to the increased labor force participation
rate.
Figure 2: Summary of the Multiple Linear Regression Model (RStudio)
Now, as we have 5 control variables, and each of them is
highly signifi cant let’s conduct multicollinearity test to check
whether there are high inter-associations among the independent
variables. First, let’s take a look at the correlation matrix to
identify highly correlated pairs of our multiple linear regression
model:
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