Influence of existing social and economic interactions on sustainable territory development: the case of Iceland

Vera Komarova (), Jelena Lonska, Olga Lavrinenko () and Vladimir Menshikov ()
Additional contact information
Vera Komarova: Daugavpils University, Latvia
Olga Lavrinenko: Daugavpils University, Latvia
Vladimir Menshikov: Daugavpils University, Latvia

Entrepreneurship and Sustainability Issues, 2018, vol. 5, issue 3, 412-437

Abstract: Iceland was identified as a typical country with relatively high achieved competitiveness level and at the same time negative growth capacity - so, with eroded sustainability of territory development. As a research hypothesis the authors suggest that Iceland's social and economic interactions with other "worlds-economies" are not diversified enough. The analysis of export/import and international migration flows of Iceland shows that a market-capitalist "world-economy" is an absolute leader (80-90%) for Icelandic international trade and migration. Analysis of air logistical interconnections shows that a kind of sub-"world-economy" is formed which can be referred to as a Northern-Atlantic one. As results of regression analysis show social and economic interactions with the representatives of its own "world-economy" mainly draw Iceland’s sustainable territory development in their direction, and, as the trends of their development are negative or stagnate (USA and Spain), Iceland’s trend of sustainable territory development is also drawn after them. In its turn, rather infrequent social and economic interactions with other "worlds-economies" either do not influence significantly Iceland’s sustainable territory development (as interactions with Brazil do) or influence in the opposite way (as interactions with China do). Therefore, the practical efficiency of recommendation of Human Development Report 2013 to interact more actively with other "worlds-economies" is not so far proved in social and economic reality - at least, in the case with Iceland as a typical highly-developed capitalist country.

Keywords: sustainable territory development; spatial economics; social and economic interactions; Iceland; worlds-economies (search for similar items in EconPapers)
JEL-codes: O11 O18 R58 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (2)

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Working Paper: Influence of existing social and economic interactions on sustainable territory development: the case of Iceland (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:5:y:2018:i:3:p:412-437

DOI: 10.9770/jesi.2018.5.3(1)

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