Financial resources of the Arctic Territories new industrialisation

DOI

10.2991/sicni-18.2019.148How to use a DOI?

Keywords

system of national accounts, Arctic territories, institutional sectors, municipalities

Abstract

In recent years, interest in the development of the Arctic territories in scientific literature has significantly increased, due to the new industrialization of the polar areas, based on large-scale projects for the extraction of hydrocarbons. At the same time, the issues of sources of financing such investments, their interrelations with the formation of the added value of the Arctic territories, are not given enough attention. In this paper, on the basis of the methodology for building the international System of National Accounts, a methodological approach is presented for determining the financial sources of the industrialization of the Arctic territories of Russia according to the institutional sectors of the Corporation, Public Administration and Households. The grouping of sectors according to incomes and expenditures shows which sources can industrialize the Arctic territories, and which sectors contribute to capital outflow / inflow, as well as how secondary education and income distribution takes place. All the data obtained on indicators of the movement of financial resources in the sectors of the Arctic territories are used to build a common matrix of formation and use of value added. The authors have formed the balance sheets of the movement of financial resources of the Arctic territories for 2011-2014, identified key parameters of the possibilities of industrialization, in the context of the regions of the Russian Arctic. Based on the author's calculations for the formation of the net lending / borrowing balances of institutional sectors of the economy, four types of financing for the industrial development of the Arctic municipalities were conventionally singled out: self-sufficient territories of the Arctic, characterized by a strong industrial base, financially redundant municipalities, with an abnormally high outflow of financial resources, financially attractive territories, budget-oriented areas, where the source of industrialization are government resources.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - E. A. Zakharchuk
AU  - A.A. Nekrasov
AU  - A. F. Pasynkov
PY  - 2019/01
DA  - 2019/01
TI  - Financial resources of the Arctic Territories new industrialisation
BT  - Proceedings of the 2nd International Scientific conference on New Industrialization: Global, national, regional dimension (SICNI 2018)
PB  - Atlantis Press
SP  - 737
EP  - 741
SN  - 2352-5398
UR  - https://doi.org/10.2991/sicni-18.2019.148
DO  - 10.2991/sicni-18.2019.148
ID  - Zakharchuk2019/01
ER  -