Regional Economics: Theory and Practice

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Contemporary problems of financial stability of Russia's regional economy

Vol. 17, Iss. 10, OCTOBER 2019

Received: 19 June 2019

Received in revised form: 5 August 2019

Accepted: 20 August 2019

Available online: 15 October 2019


JEL Classification: P25, P34, R10, R51

Pages: 1942–1955

Ibragimov R.N. Altai State University (ASU), Barnaul, Altai Krai, Russian Federation

Subject This article considers the stability of the financial system as a factor in the development of the region.
Objectives The article aims to classify the levels of stability of the region's financial system, identify its main problems, and develop strategic directions for its development.
Methods For the study, I used the methods of deduction, statistical, and comparative analyses.
Results The article identifies the main problems of the regional economy, hindering the development of financial stability of the economy as a whole. It also lists strategic areas and directions to improve the financial stability of Russia's regions.
Conclusions and Relevance Most regions of Russia are financially unstable and subsidized. This is greatly facilitated by the imperfection of the centralized system of regional governance. Implementation of the proposed directions and measures will contribute to the development of an effective strategy for the real sector of the economy, and investment, financial and social policy by the regional authorities.

Keywords: financial system sustainability, fiscal system, regional development, economic diversification, financial policy


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