Sustainable and balanced development of the Russian arctic: conceptual basis

The modern competition between the Nordic countries for the development of natural resources of the Arctic has triggered an update of the Russia's policy in the Arctic. The implementation of such a policy is inextricably linked with the need to achieve sustainable development of the Arctic territories and local communities, since this is the development which can ensure carrying out large-scale projects on development of the natural resources of the Arctic. The article highlights the conceptual foundations for achieving sustainable and balanced development of territorial socio-economic systems of the Russian Arctic. In this respect there are addressed issues related to social sustainability, economic efficiency and environmental safety. It is concluded that the sustainable and balanced development of territorial socio-economic systems of the Arctic zone should become a modern national Arctic paradigm of Russia. The scientific novelty of the study is to justify the need for transition to a new paradigm for the development of the Russian Arctic based on the analysis of the conceptual basis of sustainable and balanced development and institutional foundations of sustainable development of territorial socio-economic systems of the Russian Arctic.