Foreign and domestic experience of economic development of the Arctic territories

• Published in: Arctic and North
• Main Author: Dmitriy A. Matviishin
• Format: Article in Journal/Newspaper
• Language: English; Russian
• Published: Northern Arctic Federal University 2017
• Subjects: The Arctic; the history of the Arctic exploration; the Arctic strategies; resource base; resource extraction projects; the features of the Arctic development; Social Sciences; H; Arctic; Arctic Council
• Online Access: https://doi.org/10.17238/issn2221-2698.2017.26.24; https://doaj.org/article/7c586078ad1a4364b36bdd0491cf94ce

The article deals with the key aspects of the Arctic exploration. There is a brief description of the Arctic Council, as well as strategic goals, objectives, activities and resources used of member countries and observer organizations to achieve these goals. The resource base of the Arctic region is studied. The economic analysis of the Arctic territories by circumpolar states, including the characteristics of resource projects, is arranged. The features of the Russian and foreign approaches to the management of the economy in the Arctic are noted. The method of logical analysis, economic and statistical and historical methods are used in the research. The result is the scientific justification of advantages and potential of domestic experience of development of the Arctic, and also of the necessity of timely adaptation of economic approaches, investment policy and the legislation according to the current chalenges and tendencies.