Issue ? 46. Oсtober 2014

Modern Instruments of Regional Development of the Russian Federation and Ukraine: A Comparative Analysis

Ph.D., Associate Professor, Dnipropetrovsk State Financial Academy, Dnipropetrovsk, Ukraine; chief of staff, Lviv Regional State Administration, Lviv, Ukraine.
E-mail: annaurevna@inbox.ru

It’s very hard to support sustainable development of every region in the country because of the differences between the needs of territories. The author emphasizes the necessity of modern instruments of regional development.

The main purpose of this article is a detailed examination of regional development instruments of Russian Federation and Ukraine.

The author investigates the Investment Fund of Russian Federation and Ukrainian Regional Development Fund management mechanisms and other instruments of socio-economic territorial development, including the State programs of regional development in Russia and the system of government guarantees on execution of bond in Ukraine. The article also considers subventions from the Ukrainian state budget for social and economic development of certain areas, and subventions of a capital nature.

In the conclusion of the article, the author summarizes the best aspects of regional development practices in the two post-Soviet countries (Russia and Ukraine) which can be used for optimal socio-economic development of territories.

Keywords

Socio-economic development, region, instruments of regional development, regional development fund, the Investment Fund of the Russian Federation, targeted programs, state guarantees, subventions.