MANAGING HOUSEHOLD FINANCIAL SECURITY IN THE RUSSIAN ARCTIC

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Anastasia N. Chapargina

Luzin Institute for Economic Studies of the Kola Science Centre of the Russian Academy of Sciences, Apatity, Russia,  achapargina@yandex.ru, ORCID 0000-0002-4399-4063

 

Abstract. Household financial security management is a key factor in ensuring the socio-economic sustainability of the Russian Arctic regions, which are characterized not only by their strategic importance and resource potential but also by increased vulnerability to external shocks, high income volatility, and significant disparities in living standards. The aim of this study is to develop an integrated approach to managing household financial security in the Russian Arctic regions. Based on an analysis of indicator dynamics for the period 2015–2023, the study identifies a polarization in the level of household financial security across Arctic regions. The leading regions (Nenets Autonomous Okrug, Yamalo-Nenets Autonomous Okrug, and Chukotka Autonomous Okrug) demonstrate consistently high performance, whereas lagging regions (Republic of Karelia, and Arkhangelsk Region) exhibit critically low levels of financial security. The study identifies key factors influencing household financial security and proposes their classification into controllable (financial-behavioral and socio-demographic) and uncontrollable (macroeconomic and regional) factors. It also outlines the main objectives and instruments for ensuring household financial security, including financial planning, asset accumulation, risk management, and financial literacy improvement. A conceptual framework for managing household financial security has been developed, defining key actors, objects, and their interactions. A set of recommendations is proposed for managing household financial security, taking into account regional specificities. These include measures to develop financial infrastructure, improve financial literacy, and strengthen social support. The implementation of the proposed measures is expected to make households resilient to external shocks, reduce interregional inequality within the Arctic, and provide a scientific and methodological basis for refining regional socio-economic policy.

Keywords: household financial security, Arctic regions, financial security indicators, controllable and uncontrollable factors, regional differentiation

For citation: Chapargina A. N. Managing household financial security in the Russian Arctic. Sever i rynok: formirovanie ekonomicheskogo poryadka [The North and the Market: Forming the Economic Order], 2026, no. 2, pp. 41–54. doi:10.37614/2220-802X.2.2026.92.003.

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