Untitled

Abstract

Iceland was identified as a typical country with relatively high achieved competitiveness level and at the same time negative growth capacityso, with eroded sustainability of territory development. As a research hypothesis the authors suggest that Iceland's social and economic interactions with other "worlds-economies" are not diversified enough. The analysis of export/import and international migration flows of Iceland shows that a market-capitalist "world-economy" is an absolute leader (80-90 %) for Icelandic international trade and migration. Analysis of air logistical interconnections shows that a kind of sub-"world-economy" is formed which can be referred to as a Northern-Atlantic one. As results of regression analysis show social and economic interactions with the representatives of its own "world-* The research leading to these results has received funding from the European Union Seventh Framework Programme (FP7 2007 under grant agreement No. 291823 Marie Curie FP7-PEOPLE-2011-COFUND (The new International Fellowship Mobility Programme for Experienced Researchers in Croatia -NEWFELPRO). This article has been worked out as a part of the project "Rethinking Territory Development in Global Comparative Researches (Rethink Development)" which has received funding through NEWFELPRO project under grant agreement No. 10