Abstract
The Arctic is a region known for its natural resource endowments and challenging climate. However, evidence from elsewhere suggests that human capital development might also be vital to Arctic economic growth. This article explores the role human capital plays in economic development in the Arctic through analysis of Arctic regional demographic and economic data. The available data preliminarily suggests that human capital stock growth in Arctic regions – as represented by the population with higher education – correlates more closely with economic growth than growth in the general population. The analysis is less conclusive on physical capital development’s connection to economic development as it is with human capital growth. Based on these findings, the article also highlights Arctic-centered institutions and policies that seek to bolster the Arctic region’s human capital stock.
This article relies on national sources of population, GRP, education and human capital data for Canada (https://www.statcan.gc.ca), Denmark’s Greenland (bank.stat.gl), Finland (pxdata.stat.fi), Iceland (statice.is/), Norway (ssb.no), Sweden (statistikdatabasen.scb.se), and the United States (bea.gov). The statistical databases for some countries – Canada, Denmark’s Greenland, Iceland, and the United States – already offered GRP in real or chained form. Finland’s statistical database only had real regional GRP on a per-capita basis. To convert this, the dataset multiplies a year’s GRP per capita by its population figure. Sweden’s statistical database only had regional GRP in nominal, current prices. To convert this, the dataset takes the World Bank’s (databank.wordbank.org) 2015-indexed GDP deflator for Sweden, divides it by 100, and divides the Swedish region’s nominal GRP by that number, yielding real GRP indexed to 2015. Norway’s regional economic data exists only as value added in current prices as opposed to GRP. We use value added as the closest proxy for GRP and, as with the Swedish data, use the World Bank’s GDP deflator (databank.worldbank.org) to convert to real 2015-indexed values.
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Articles in the same Issue
- Frontmatter
- Articles
- Government Supervision of Oil Palm Plantations in Indonesia: Legal Issues and Proposed Remedies
- How Democratic Police Reforms Fail: A Law and Development Perspective on Institutional Processes of Change and Resistance
- Sustainable Development Under AfCFTA: Dimensions, Limitations and Prospects
- Asset Recovery via Non-Conviction based Forfeiture: Rationale for Regulation and Recommendations for Implementation in Vietnam
- Law and Macro Finance
- Modernization of Nigeria’s Mining Industry: The Case for Participation and Sustainable Development of Local Communities
- Human Capital and Growth in Arctic Regional Economies: Evidence, Policies and Institutional Perspectives
- Notes
- Advancing New Governance Models for Gender Data in Climate Resilience Funding
Articles in the same Issue
- Frontmatter
- Articles
- Government Supervision of Oil Palm Plantations in Indonesia: Legal Issues and Proposed Remedies
- How Democratic Police Reforms Fail: A Law and Development Perspective on Institutional Processes of Change and Resistance
- Sustainable Development Under AfCFTA: Dimensions, Limitations and Prospects
- Asset Recovery via Non-Conviction based Forfeiture: Rationale for Regulation and Recommendations for Implementation in Vietnam
- Law and Macro Finance
- Modernization of Nigeria’s Mining Industry: The Case for Participation and Sustainable Development of Local Communities
- Human Capital and Growth in Arctic Regional Economies: Evidence, Policies and Institutional Perspectives
- Notes
- Advancing New Governance Models for Gender Data in Climate Resilience Funding