Development of the Subarctic Territories: Technologies and Socio-Economic Innovations

Abstract

At present, the socio-economic development of the subarctic territories is of primary importance, since they ensure security and stability of the national development. It is necessary to solve a complex task related to reforming the activities of public institutions that ensure stable development of the northern regions. To do this, the authors have performed the research aimed at deepening the knowledge of the functioning of formal and informal institutions, studying the characteristics of their interaction and influence on the development of the territories. The purpose of the study is to develop a methodological approach in order to assess the impact of institutional actors on the socio-economic development of the subarctic territories. This approach includes the analysis of the functions of institutions, identification of their incentive and disincentive effects, structuring parameters and indicators for each institution and working out of solutions aimed at the development of the region. The results of the study assessing the impact of institutions on the socio-economic development of the territory can be used by the authorities of the subarctic territories to address priority issues of regional development.