Strategic priorities of regional financial policy modernization

Economic Annals-ХХI: Volume 147, Issue 1-2(1), Pages: 89-92

Citation information:
Storonyanska, I. (2015). Strategic priorities of regional financial policy modernization. Economic Annals-XXI, 1-2(1), 89-92. https://ea21journal.world/index.php/ea-v147-22/

Iryna Storonyanska
D.Sc. (Economics),
Professor,
Vice Director on Scientific Work,
M. Dolishniy Institute of Regional Research of NAS of Ukraine
4 Kozelnytska Str., Lviv, 79026, Ukraine
istoron@i.ua

Strategic priorities of regional financial policy modernization

Abstract. The author determines potential and real opportunities in the regions to ensure their socio-economic development based at sustainable usage of its own financial resources; critically analyzes existing mechanisms of financial management providing in the regions and identifies the causes of low efficiency. New directions to ensure effective financial management of the regions based on consideration of changes and opportunities created under the influence of intensification of integration processes in Ukraine and in the world economy are justified.

Finances of regions is regarded as part of local finances (according to the structure of the financial system of Ukraine) and are a system of economic relations on the creation, usage and distribution of financial resources between economic agents within a region in order to ensure its current functioning and development. Feature of authors methodological approach to the study of finance in the region is to give priority to the financial potential of the region formed over financial resources, allowing to expand the horizons of research by finances of the region, including their structure, along with the available financial resources of potential component, included along with budget potential financial capacity of the region, which is formed in the sectors of financial and non-financial corporations, and households.

Keywords: Regional Financial Policy; Local Budgets; Management; Regional Financial System

JEL Classification: G32; H72

Acknowledgements. I thank the Editors of this issue for their insightful comments on an earlier draft of this article, as well as two anonymous referees.

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Received 10.11.2014