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Financial Instruments of Regional Economic Policy Implementation

Financial Instruments of Regional Economic Policy Implementation
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Author(s): Anastasia Ostovskaya (V. I. Vernadsky Crimean Federal University, Russia) and Irina Pavlenko (V. I. Vernadsky Crimean Federal University, Russia)
Copyright: 2019
Pages: 30
Source title: Global Trends of Modernization in Budgeting and Finance
Source Author(s)/Editor(s): Denis Ushakov (Suan Sunandha Rajabhat University, Thailand)
DOI: 10.4018/978-1-5225-7760-7.ch009

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Abstract

This study is dedicated to the rationalizing of theoretical and methodological principles as well as elaboration of practical recommendations for the improvement of the financial mechanisms of regional development. Scientific findings in the area of financial mechanisms of regional development have been subject to analysis; the purpose and the main objectives have been set and financial principles and instruments of regional development have been defined. The role of financial support has been rationalized in relation to the specifics of the social and economic interests of the region and its steady development. The main purpose of reforming the financial mechanisms has been set as such providing for the social and economic development of the regions in the Russian Federation. It has also been clarified that the financial potential of the region is a key factor in serving social and economic interests of the region by means of financial mechanisms.

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