Key trends of investment development in the Arctic zone of the Russian Federation in 2008–2017

Abstract

This article is devoted to the study of the investments and their transformation in the Arctic zone of the Russian Federation in the conditions of the crisis of the last decade. Current studies indicate the occurred as a result of economic shocks aimed at the implementation of the state Arctic policy, as well as the need for financial and technological constraints that require a retrospective analysis of investment activity in the Arctic zone. The study of investments in the Arctic zone of the Russian Federation in 2008-2017 has four stages identified: 2008–2010; 2011–2012; 2013–2014; 2015–2017. One may see that investments in the Russian Federation are due to quite sharp fluctuations and their uneven distribution across regions. The most significant volumes of Russian investments in the first phase were typical for regions partially located in the Arctic zone of the Russian Federation, and now — for entirely Arctic areas. The same situation was until 2014 with foreign investments in the Arctic. However, after the start of the “sanctions war,” we observed a turning point. Foreign investments in the Arctic areas of the Russian Federation significantly decreased. The decline continues to this day. Predicted options for further investment development in the Arctic zone of the Russian Federation have an adverse scenario for the national economy.

Keywords

• the Arctic zone of the Russian Federation
• state Arctic policy
• priority investment projects
• crisis
• international sanctions
• investment processes