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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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