Assessment of challenges, threats, and prospects in development of cities and towns in the Arctic zone

Abstract

Abstract The article suggests a way of tackling one of the crucial issues, namely using a novel research framework in management of territorial processes based on the qualimetric methodological approach. The goal of the study is to identify major limitations, challenges, and threats occurring during economic development of Arctic territories on the basis of an analysis of socioeconomic development and to suggest, on this basis, prospective areas of economic practices and development in the Arctic. The study is based on a systemic methodological approach to assessment of factors in economic practices in Arctic territories, a concept and methodology of sustainable development, methods of comparative (interregional and international) analysis, institutional analysis and development. The article analyses the prerequisites for socioeconomic development of Arctic territories; identifies the factors, limitations, challenges, and threats for their sustainable development; contains a comparative analysis of national practices in economic exploration in the Arctic zone; describes the purposes of government regulation in those processes and their institutionalisation in economic policy; suggests prospective of economic development in the Arctic zone; provides recommendations for improvement in the aforesaid development. Conclusions and recommendations. The study has shown that, depending on the combination of natural, climatic, social, resource, environmental, and other factors characterising a particular territory within the Arctic, a specific model of institutional regulation in its development should be created and institutionalised. The study has identified and listed the challenges and threats in economic practices in the Arctic zone. Prospective areas in economic exploration have been proposed.