Acta Universitatis Danubius. Œconomica, Vol. 12, No. 4 - 1

Abstract

In a global world, the industrial relations have become the strategical tool for economic
development of the states. Our paper aim to emphasise the increasing role of wage bargaining
systems in the industrial relations in European Union, going from the presumption that the labour
market is changing every day and the European authorities must take the decisions with a high
economic and social impact. Going from an extended literature review and using the data provided by
Eurostat and Eurofound, reflecting the new European regulations concerning the employment
relations, the findings of our paper reflect a dynamic transformation of wage bargaining systems at
institutional level, labour market and collective bargaining. The results reflect the direct implications
of wage bargaining systems on the labour productivity, on the political decisions considering the
minimum wage and the real and nominal wage. Our findings are valuable for the academicians and
practitioners interested in industrial relations and wage bargaining systems.