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DOI: 10.46698/VNC.2022.16.9.009

GEOPOLITICAL CHALLENGES AND ECONOMIC RISKS IN THE NORTH CAUCASUS FEDERAL DISTRICT

Gadieva, Aneta N. , Kulova Margarita, R.
Kavkaz Forum. 2022. Issue 9.
Abstract:
The urgency of the problem of economic risks in the North Caucasus
Federal District in the context of geopolitical challenges is associated with
the interdependence of these phenomena and the need to develop effective
mechanisms to ensure political and socio-economic stabilization in the regions of
the North Caucasus Federal District. The purpose of the study is to study the main
economic risks of the macroregion from the point of view of its macroeconomic
stability and taking into account modern geopolitical challenges.
The presence of external actors trying to influence the processes in the North
Caucasus, the terrorist and extremist danger from religious radicals, interethnic
tensions in a number of republics of the region and increasingly corrosive
corruption are the main challenges hindering the development of this strategically
important territory.. Over the past two years, the situation has worsened due to
the pandemic, which has significantly affected the economic condition and social
well-being of the residents of the NCFD.
One of the main risks for the economy of the subjects of the North Caucasus
Federal District is the lack of a stable link between economic growth and the
incomes of the population, which causes the risks of income reduction in the
event of a reduction in financial assistance to the regions from the federal center,
including the regions of the North Caucasus.
The inefficiency of development institutions in the NCFD, corruption risks
create serious obstacles to the economic modernization of the macroregion. The
creation of a holistic model of effective interregional cooperation in general and
within the subjects of the district, the development of Russia’s modernization
potential and the strengthening of political and economic contacts with the
Transcaucasian states, Turkey, Iran will contribute to damping geopolitical risks
and reducing economic risks in the North Caucasus Federal District.
Keywords: geopolitical challenges, economic risks, region, North Caucasus Federal District
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