Leading tools of state regulation of regional economy

Abstract

The purpose of the article is to substantiate the necessity for application of the leading tools of state regulation of regional economy in modern Russia and to develop practical recommendations for achieving high effectiveness of this regulation. The evidential base of the research consists of the authors’ development of the official statistical information of the Federal State Statistics Service of the RF on dynamics of regional economy. The authors use the method of structural and trend analysis. As a result of the research, the authors conclude that traditional tools of state regulation of regional economy – such as tax, infrastructural, and social policy – do not allow achieving high effectiveness of management. They should be replaced by the leading tools, the choice of which should be directly determined by the top-priority goals of development of region’s economy. These goals are creating innovations-oriented economy in the region, supporting high competitiveness of regional economy, overcoming ecological problems, and increasing the population’s living standards. They should be achieved with the help of such tools as innovational & investment policy, prioritization of entrepreneurship, territorial marketing, management of sustainability of region’s economy’s development, and policy of social responsibility.