The increased interest in the Arctic is associated with the strengthening of its importance as a strategic resource base of the Russian Federation, ensuring the solution of the issues of the country's socioeconomic development. Harsh northern environmental conditions , the underdevelopment of the transport network and infrastructure, limited energy supply and other become a serious obstacle to the further development of the northern and arctic regions and the creation of favorable conditions for the population life. These circumstances require the development and formation of special legislation that takes into account the specifics of the Arctic zone. The aim of the study is to systematize the measures of the regulatory support of the population's residence and carry out economic activity in harsh northern environmental conditions as a basis for developing additional incentive mechanisms for the development of the Russian Arctic. The method of content analysis of the regulatory framework and a method for analyzing data on Arctic projects and programs are used in this study. Authors found that, the privileges and preferences fixed in legislative acts and taking into account the northern (Arctic) specifics are provided exclusively for the population. However their action far incompletely compensates for the discomfort of living in these regions. The toolkit to support the activities of economic entities and create favorable conditions for their functioning is presented mainly by the Tax Code with minimal consideration of the signs of "northernness". The competences of regional authorities in matters of stimulating economic activity are significantly limited. The most efficient tool of the state support still is presented by the state programs focused on solving problems of the national scale and developing commercially unprofitable spheres. Their disadvantage is limited duration and narrow focus. The main conclusion was that active economic development of the North and the Arctic, harsh climatic conditions and other restrictions require the separation of these territories into an independent object of state regulation with the development of special mechanisms and legislative norms ensuring the sustainable socioeconomic development of the Arctic regions.

The scientific-analytical report presents a study of the financial-investment potential distinguishing its structural elements: potentials of economic entities, fiscal and financial-credit potentials. A special attention is paid to functional specificities of each element of the financial potential in regional development and revealing their interconnections. Regions of the Russian Arctic zone characterized by severe climatic conditions, having strong nature resource potential, and being a zone of increased interest from large corporate structures and strategic interest of the state are the object of the study. The work is addressed to scientific researchers, legislative and executive authorities of different levels, financial-credit institutions, enterprises and organizations, lecturers and students as well as other readers interested in issues of the Arctic territories’ development. The scientific and analytical report was prepared as a part of the state assignment of FRS KSC RAS in terms of conducting research work of the G. P. Luzin Institute for Economic Studies on topic No. АААА-А18-118051590117-3 “Scientific bases of formation and implementation of the financial-investment potential of the Arctic and Northern regions”.

The uneven distribution of natural resources on the territory of Russia and the limited financial capabilities of the regions of the Russian Federation to exercising their powers, according to the authors, predetermine the relevance of considering the problem of assessing financial solvency for each region. The Arctic zone of the Russian Federation as a management object is nowadays an issue of concern from researchers and requires special attention since most of the country’s resource potential is concentrated on its territory. The study aims at a statistical assessment of the financial viability of the regions of the Russian Arctic through a correlation analysis aimed at exploring the forms of linking indicators that allow us to identify common and specific features of their regional development.The article substantiates the system of statistical indicators that directly or indirectly characterize the financial solvency of the regions. The analysis of the financial solvency of the regions according to the official statistics for the period from 2005 to 2018 was carried out sequentially and in stages: 1st stage - selection of the data array; 2nd stage - formation of a case of financial indicators; 3rd stage - building a matrix for correlation analysis; 4th stage - correlation analysis; 5th stage - interpretation of the results.Using the method of correlation analysis, the authors constructed a matrix of correlation pairs, identifying the most relevant ones for assessing the financial solvency of the region. Comparative analysis of paired correlation coefficients for the Arctic regions made it possible to assess the relationship between certain directions and features of their development.Assessment of the financial independence of the constituent entities is the central problem of balancing regional budgets. In this regard, the results of the study may be of interest to regional and federal authorities for forecasting and strategic planning of the development of the Arctic regions in the face of limited financial resources.

In this article, the authors assessed the resource availability, investment opportunities and incomes of the population of the Russian Arctic in the context of the potential development of this territory. The study showed that natural resources are not the main condition for the formation of regional finances. Based on the conducted statistical analysis, it is shown that the regions under study have powerful industrial potential but have a rather low level of investment attractiveness. It was revealed that the current system of social guarantees does not compensate for living conditions in these territories. It is concluded that considering the identified interregional differences and peculiarities will make it possible to develop new solutions and approaches in matters of financial development of the Arctic territories. The authors believe that expanding the powers of regional authorities, reducing budget consolidation and developing mechanisms aimed at forming the institutional foundations of state regulation will help build up additional regional financial resources, eliminate the legal vacuum and develop special mechanisms to stimulate investment processes and attract investment resources for these territories.

The article deals with the issues of search for a compromise interaction between the state and business in the field of environment in the Arctic. The role of “green diplomacy” within the framework of sustainable development was identified. The main aspects of the legal and economic regulation of environmental activities in Russia and strategic documents of the development of the Russian Arctic into the environment were analyzed. A comparative analysis of the mechanisms and instruments of the economic regulation of environmental activities in the EU countries and Russia, as well as analysis of the costs of business and state for environmental purposes in the Arctic regions have been carried out. The main indicators characterizing the relations between state and business in the Arctic regions of the Russian Federation are calculated. The results of analysis show that in the Russian practice, despite the plethora of legal acts, economic mechanisms and tools, the task of building a constructive partnership has not yet been solved. To solve the problem the authors proposed a “model of green diplomacy”, which allows to find a compromise between the interests of the state and interests of the business. The point of business environmental responsibility, showing the moment of the formation of a new qualitative order in achieving a balance of their interests, has been determined.