Preferential Regime of the Russian Arctic: Tendencies and First Results from Realization of the World’s Largest Special Economic Zone

Alexander D. Volkov (), Natalia A. Roslyakova, Anastasia V. Vasilieva, Alexander O. Averyanov, Sergey V. Tishkov and Ekaterina V. Nalivaychenko
Additional contact information
Alexander D. Volkov: Institute of Economics, Karelian Research Centre, Russian Academy of Sciences, 50 Al. Nevsky Prospect, Petrozavodsk 185030, Russia
Natalia A. Roslyakova: Institute of Economics, Karelian Research Centre, Russian Academy of Sciences, 50 Al. Nevsky Prospect, Petrozavodsk 185030, Russia
Anastasia V. Vasilieva: Institute of Economics, Karelian Research Centre, Russian Academy of Sciences, 50 Al. Nevsky Prospect, Petrozavodsk 185030, Russia
Alexander O. Averyanov: Institute of Economics, Karelian Research Centre, Russian Academy of Sciences, 50 Al. Nevsky Prospect, Petrozavodsk 185030, Russia
Sergey V. Tishkov: Institute of Economics, Karelian Research Centre, Russian Academy of Sciences, 50 Al. Nevsky Prospect, Petrozavodsk 185030, Russia
Ekaterina V. Nalivaychenko: Institute of Economics, Karelian Research Centre, Russian Academy of Sciences, 50 Al. Nevsky Prospect, Petrozavodsk 185030, Russia

JRFM, 2024, vol. 17, issue 1, 1-39

Abstract: The preferential regime of the Arctic Zone of the Russian Federation is the latest regulatory mechanism designed to overcome negative socio-economic trends in the macroregion. The accumulated factual data over the three-year period of this work have made it possible to make the first reasonable estimates of its effects on the regional economy. The purpose of this study is to investigate the presence of transformational changes in the relationship between employment and investment due to the introduction of the preferential regime for key sectors in the regions that are fully or partially included in the Russian Arctic. The relationship between investment and employment in regional industries was studied using least squares regression analysis using Advanced Grapher 2.2 software. The results show, firstly, significant differences in trends in the implementation of preferential treatment: increased economic specialization of some regions and diversification of the economies of other regions. Secondly, there is a slowdown in the emergence of new projects. Thirdly, the markedly different employment effects across industries and regions of the Russian Arctic, as well as the changing nature of the relationship between investment and employment, require a significant revision of regulatory measures and economic policies to maximize regime effects and achieve sustainable long-term regional development.

Keywords: the Arctic; special economic zone; Russian Arctic; preferential regime; employment; investment; trends; Arctic regions (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/1911-8074/17/1/28/pdf (application/pdf)
https://www.mdpi.com/1911-8074/17/1/28/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:17:y:2024:i:1:p:28-:d:1317209

Access Statistics for this article

JRFM is currently edited by Ms. Chelthy Cheng

More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().