Abstract
In economic theory, quite often there are questions aimed at discussing the possibilities for developing the Arctic zone. Interest in this problem is due to many factors, among which, first of all, are the high expectations of institutional opportunities obtained as a result of the development of the Arctic zone. This is access to large-scale energy deposits on the continental shelf, priority development of the Northern Sea Route, as well as a way to make the territories of the Far North adjacent to this zone more accessible. However, the main thing in solving the problem posed is not so much the object of research itself, the significance of which no one doubts, but rather the use of an evidence-based methodological basis when choosing a management model that is authentic to the specifics of the Arctic zone. This is due to the fact that the neoclassical version of the mechanism has serious limitations in this matter. Consequently, the fundamental task, according to the authors, in the discourse of modernizing the systemic management model in the Arctic zone is the use of an institutional direction, which opens up the opportunity to rethink the principles of the core of neoclassics and update them taking into account emerging modern material
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