SHS Web Conf.
Volume 84, 2020First International Scientific Seminar “Circumpolar Studies” 2020
|Number of page(s)||3|
|Section||Sustainable Development of Arctic|
|Published online||10 November 2020|
Financial component of the economic security of the Arctic regions
1 PhD (Economics), Associate Professor, Leading Researcher, G. P. Luzin Institute for Economic Studies of the Kola Science Centre of the RAS, 184209, Fersman st., 14б, Apatity, Russia
2 Applicant, G. P. Luzin Institute for Economic Studies of the Kola Science Centre of the RAS, 184209, Fersman st., 14б, Apatity, Russia
* Corresponding author: firstname.lastname@example.org
The article is devoted to the study of issues of ensuring the economic security of the Arctic regions of the Russian Federation. It is proved that the most important element of the system of ensuring the economic security of the state and regions is the financial component. At the same time, the financial security of the economy depends not only on the amount of available financial resources, but also on the intensity of financial flows. The concept of “regional finance system” has been clarified. It is concluded that in the current unfavorable macroeconomic conditions, the cost of making management decisions aimed at creating the necessary amount of financial resources sufficient to ensure the economic security of regions and the implementation of national projects is significantly increased. It is revealed that the main instrument of financial regulation of the development of the Arctic regions is the so-called system of inter-budget transfers. At the same time, the current legislation does not distinguish the regions of the Arctic zone of the Russian Federation into a separate category, all regions can apply for subsidies from the federal budget on an equal basis.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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