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

Author

Listed:
  • Vera Komarova

    (Daugavpils University, Latvia)

  • Jelena Lonska

    (Rezekne Academy of Technologies, Latvia)

  • Olga Lavrinenko

    (Daugavpils University, Latvia)

  • Vladimir Menshikov

    (Daugavpils University, Latvia)

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.

Suggested Citation

  • Vera Komarova & Jelena Lonska & Olga Lavrinenko & Vladimir Menshikov, 2018. "Influence of existing social and economic interactions on sustainable territory development: the case of Iceland," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 5(3), pages 412-437, March.
    • Handle: RePEc:ssi:jouesi:v:5:y:2018:i:3:p:412-437
    DOI: 10.9770/jesi.2018.5.3(1)
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    References listed on IDEAS

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    1. James P. Lesage, 2008. "An Introduction to Spatial Econometrics," Revue d'économie industrielle, De Boeck Université, vol. 0(3), pages 19-44.
    2. Aivars Stankevičs & Svetlana Ignatjeva & Vladimirs Meņšikovs, 2014. "Higher Education’S Contribution Into Economic Performance And Innovativeness Of Latvia: Exploratory Research," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 59(202), pages 7-42, July – Se.
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    1. V.Yu. Chernova & Z.G. Golodova & E.A. Degtereva & A.M. Zobov & V.S. Starostin, 2018. "Transregional Coordination of Modernization Processes in Implementation of Import-substituting Policy in Russia," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 887-898.
    2. Dana Kiseľáková & Beáta Šofranková & Miroslav Gombár & Veronika Čabinová & Erika Onuferová, 2019. "Competitiveness and Its Impact on Sustainability, Business Environment, and Human Development of EU (28) Countries in terms of Global Multi-Criteria Indices," Sustainability, MDPI, vol. 11(12), pages 1-25, June.

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    More about this item

    Keywords

    sustainable territory development; spatial economics; social and economic interactions; Iceland; worlds-economies;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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