Authors:
Anastasiia Ostovskaya
;
Elena Polishchuk
and
Irina Pavlenko
Affiliation:
V.I. Vernadsky Crimean Federal University, Prospect Vernadskogo 4, Simferopol, Russia, Russian Federation
Keyword(s):
Financial Mechanism, Sustainable Development, Region, Index, Integral Index, Priority Direction.
Abstract:
The research is devoted to the study of the financial mechanism and its impact on the effectiveness of regional
policy, improving the quality of life of the population and the level of sustainable development of the region.
It is established, that the solution of the problems influencing social and economic development of the region,
needs realization of the basic group of problems, development and realization of strategic directions which
influence on perfection of the financial mechanism. Five basic directions of development of the financial
mechanism of the region were singled out: 1) anti-crisis direction; 2) direction connected with the restoration
of the financial mechanism of sustainable development of the region; 3) direction connected with the
formation of the main sources of the financial mechanism of sustainable development of the region; 4)
innovation and investment direction; 5) direction connected with the capacity building of the financial
mechanism of sustain
able development of the region. The presented directions suggest the application of
appropriate tools, forming financial flows, contributing to the achievement of sustainable development of the
region.
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