Subject The article considers the socio-economic development of regions and municipalities through the use of a set of effective tools. Objectives We analyze the mechanisms of social and economic development at the regional level, examine the experience of their use in the Tula Oblast, and develop proposals to improve their implementation. Methods We employ the structural-functional analysis, dialectical and comparative methods. They enabled to unveil general and specific features of instruments of territorial development regulation and compare their efficiency in modern conditions. Results The most commonly used and effective instruments are participatory budgeting, tax, and transfer mechanisms. The analysis of specifics of certain mechanisms and their application in the Tula Oblast helped reveal the main problems. We offer approaches to improving the use of these mechanisms, namely, to update the practice of participatory budgeting, to move tax norms from the regional budget to municipal, to modernize methods of inter-budgetary transfer distribution. Conclusions If applied, the proposed approaches may enhance the efficiency of certain budgetary mechanisms of territorial development regulation through efficient and economic use of budgetary resources. This will enable to explicitly address the processes of regional development.
Keywords: regional development, regional budget, local budget, participatory budgeting, subsidy
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