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Human Capital and Growth in Arctic Regional Economies: Evidence, Policies and Institutional Perspectives

  • Carter N. Coudriet und Kenneth A. Reinert EMAIL logo
Veröffentlicht/Copyright: 13. November 2024

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.


Corresponding author: Kenneth A. Reinert, George Mason University, Arlington, VA, USA, E-mail:

Appendix

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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Received: 2024-08-23
Accepted: 2024-09-25
Published Online: 2024-11-13
Published in Print: 2025-02-25

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Heruntergeladen am 30.9.2025 von https://www.degruyterbrill.com/document/doi/10.1515/ldr-2024-0109/html?lang=de
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