The Main Directions of Improving the Mechanism of Balanced Regional Socio-economic Development in Russia through the Systematization of Incentive Measures

The existing model of territorial administration in Russia is based on the redistribution of income in a benefit of the federal government, and then financial support is provided to the regional administrations using various tools. Thus, with the withdrawal of most of the income from the regions into federal funds, the government made most constituent territories of the Russian Federation ‘subsidized’. With that knowledge in mind, a set of proposals has been developed regarding the principles of analysis and methods for assessing the competitiveness of the economies of the constituent entities of the Russian Federation, as well as on specific directions of increasing the competitive capabilities of various regions. It is important to create the system for development and implementation of regional development strategies with systematized state support measures and assistance from regional authorities (funding, co-funding, guarantees, consulting, and assistance in documents preparation).