Economy and Law Development of Indigenous Peoples of Arctic Countries: Background and Prospects

The article describes the specifics of implementing and securing the right of indigenous peoples to economic development in several Arctic states. In Russia, there is a gap in national legislation which does not provide for the right to carry various types of economic activity not related to traditional economy. The cases of the United States of America and Finland show that traditional economic activity can be successfully integrated into a market economy. Various legal models of economic activities of indigenous peoples in the Arctic countries demonstrate the opportunities to achieve successful socio-economic development and to overcome the challenges that indigenous peoples face in the modern world.