Regional economic policy, goals, results assessment (the Krasnodar region case)

Abstract

Modern multipolar world subject to economic and financial crises requires the creation of a new model of interaction and cooperation. The goals and priorities for economic systems development at the level of states and regions have recently undergone major changes. Under the leadership of the President of the Russian Federation Vladimir Putin, the development plans of the constituent entities of the Russian Federation are constantly revised depending on the current situation in the regions. In the modern sphere of regional policy, the task of ensuring sustainable development of the economic systems of the territories is becoming more and more urgent. Public administration bodies and scientific and expert communities pay more attention to the issues of state regional policy and its constituent part such as regional economic policy, which should ensure the interrelation of regional priorities of the country with the concepts, long-term strategies, and medium-term programs of socio-economic development at the regional level. The formation of effective mechanisms for Russian economic policy implementation at various levels of government requires special attention. Insufficient clarity of state policy objectives in individual subjects makes it difficult to determine strategic development priorities and reduces the forecasts effectiveness. In this regard, the study of the regional socio-economic development processes in modern Russia is relevant both in theoretical and practical terms and necessitates the improvement of scientific support for the mechanisms of forming and implementing modern effective regional economic policy. It is necessary to work hard on its adaptation in order to form long-term programs of the country’s socio-economic development. The basic thesis of the study is that the regions are the center of forming effective economy in Russia at any stage of its development. The purpose of the study is to develop the theoretical foundations for forming regional economic policy of the constituent entities of the Russian Federation and to develop practical recommendations to improve the effectiveness of its implementation in modern conditions.

Keywords

• regional economy
• regional policy
• investments
• development strategy
• galaxy model
• krasnodar region
• spatial development strategy