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Regional Economics: Theory and Practice
 

The economy of the Chukotka Autonomous Okrug: On the path from monodependence to diversification

Vol. 18, Iss. 4, APRIL 2020

Received: 20 January 2020

Received in revised form: 15 February 2020

Accepted: 7 March 2020

Available online: 15 April 2020

Subject Heading: SOCIOECONOMIC POLICY

JEL Classification: C33, D24, E27, P48

Pages: 662–674

https://doi.org/10.24891/re.18.4.662

Serikov S.G. Amur State University (AmSU), Blagoveshchensk, Amur Oblast, Russian Federation
stas.serikov@inbox.ru

ORCID id: not available

Subject. This article explores the changes in the economic development of the Chukotka Autonomous Okrug during the Soviet and post-Soviet periods.
Objectives. The article aims to identify trends and features of the socio-economic development of the Chukotka Autonomous Okrug.
Methods. For the study, I used the comparative, computational, constructive, and statistical analysis methods.
Results. The article reveals key factors in the growth of the Chukotka Autonomous Okrug's gross regional product and the economic challenges to the region. As well, the article considers and proposes some possible options for further socio-economic development of the Okrug.
Conclusions. The Okrug's current socio-economic problems are caused by not objective reasons only, but subjective factors, as well.

Keywords: Chukotka Autonomous Okrug, socio-economic development, ex post evaluation, Cobb-Douglas production function, out-migration

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