Substantiation of Effective Instruments of Regulation of Financial Imbalances of Endogenous-Oriented Development of the Regions of Ukraine

Abstract

The article deals with instruments recommended for regulating financial imbalances of endogenous-oriented development of the regions of Ukraine as an integral part of the regional economy management mechanism, and also explored the ways of regulating regional socioeconomic processes in crisis conditions. The basic principles of selection of instruments for the regulation of financial imbalances of endogenous-oriented development of regions are determined. The classification of instruments of regulation of financial imbalances of endogenous-oriented development is considered. The basic tools used to support the development of regions and municipalities are analyzed: legal; related to the development of appropriate strategies and programs; based on the implementation of inter-municipal cooperation; financial. The three main directions of financial imbalance regulation tools for endogenous-oriented development of the regions are investigated, which are used to analyze the impact on the effectiveness of regional development at different stages of the economic cycle. The system of specially organized measures of regulation of financial imbalances of endogenously oriented development of regions is substantiated. In modern conditions, great attention is paid to the problems of regulation of financial imbalances of endogenously oriented development of regions of Ukraine, the implementation of which requires special instruments. A holistic presentation of the systemic mechanism of regulation of financial imbalances of endogenously oriented development of regions is offered. After all, ensuring endogenous-oriented development of regions in the current conditions of functioning of the economy of Ukraine requires the implementation of strategies of socioeconomic transformation, which will be aimed at changing the financial imbalances of development of regions and mechanisms for their implementation. Endogenously oriented regional development means increasing the level of overcoming adverse social, economic and environmental risks and trends, with the ability of regions to provide financial imbalances, self-regulation, self-improvement with maximum use of internal as well as external borrowing resources to meet the needs of the population of the regions. The endogenous-oriented development of the regions is conditioned by the identification of instruments for regulating the financial imbalances of the regions and the identification of conditions for their achievement, which are derivatives for ensuring the endogenously-oriented development of the regions as a whole.