Improving the Quality of State, Regional and Municipal Financial Resources Spending as a Key Condition for Sustainable Regional Development of the Russian Federation

Abstract

The transition to sustainable economic development is the most important goal of the regions and municipalities. At the same time, one of the problems requiring a priority solution is the growing social tension. In the article, an analysis has been carried out that made it possible to determine a direct correlation of the level of social tension and the quality of state and municipal financial resources spending. Research was made using the data of 2014 – 2020 periods. This study is based on the method of coefficient analysis through a specially developed coefficient calculated by multiplying the multiplier coefficients included in it, such as the social coefficient of internal population growth, the dynamic coefficient of external population inflow into the region, safety coefficient, labor activity coefficient and quality of life coefficient. As a result, the main objective – to find and prove mathematically the tight correlation between financial imbalance (ineffectiveness) and social instability, which leads to an increase in the stability of the system and its development was fulfilled. This reinforces the importance of monitoring and auditing the ways of regional and municipal finances using, which were summed up at the conclusion.

Keywords

• Sustainable development; Regional policy; Regional economy; Public finance; Social tension; Correlation.