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

Author

Listed:
  • 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
    V. A. Trapeznikov Institute of Control Sciences, Russian Academy of Sciences, Profsoyuznaya Street, 65, Moscow 117997, 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)

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.

Suggested Citation

  • Alexander D. Volkov & Natalia A. Roslyakova & Anastasia V. Vasilieva & Alexander O. Averyanov & Sergey V. Tishkov & Ekaterina V. Nalivaychenko, 2024. "Preferential Regime of the Russian Arctic: Tendencies and First Results from Realization of the World’s Largest Special Economic Zone," JRFM, MDPI, vol. 17(1), pages 1-39, January.
    • Handle: RePEc:gam:jjrfmx:v:17:y:2024:i:1:p:28-:d:1317209
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    References listed on IDEAS

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    1. Ichiro Iwasaki, 2023. "How do economic activities spur the COVID-19 pandemic in Russia? A dynamic panel data analysis," Post-Communist Economies, Taylor & Francis Journals, vol. 35(1), pages 59-81, January.
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    4. Buonocore, Ciro & Carlucci, Fabio & Ciciarelli, Lucia & Papola, Andrea & Tinessa, Fiore & Tocchi, Daniela & Trincone, Barbara, 2023. "Accessibility analysis in spatial planning: A case of special economic zones (SEZs) in Campania, Southern Italy," Land Use Policy, Elsevier, vol. 132(C).
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