CONDITION OF FINANCIAL SUPPORT OF REGIONAL POLICY

Abstract

The article assesses the financial support of regional policy. The theoretical and methodological foundations of regional financial policy in Ukraine are highlighted. The main instruments for securing this policy are the share of revenues assigned to territories in the budgets at all levels of the budget system, local taxes and fees, the rates of deductions from state taxes to local budgets, as well as subsidies provided to local budgets. It is noted that there is a considerable dependence of the development of the territories on the processes occurring in the higher level administrative units. The essence of regional financial policy as a spatial segment of public financial policy is revealed. Models of financing of regional development are given. The current model of financing regional development is multichannel, multilevel and includes both traditional financial institutions - state, local budget, and new institutions of mixed financing of the transformational economy. At the regional level, one of the main elements of the mechanism for regulating socio-economic development is the development and implementation of integrated regional programs aimed at improving the functioning of a particular sector of the economy. On the example of Kharkiv region, the mechanism of regulation of socio-economic development is analyzed by evaluating the effectiveness of regional financial policy implementation by individual indicators. The influence of local self-government bodies of Kharkiv region on formation of own financial policy is determined. According to the results of the research, the indicators of financial independence of local self-government were calculated: the coefficient of financial autonomy, the coefficient of financial dependence, the coefficient of autonomy, the ratio of the share of local taxes and fees in the structure of tax revenues. Based on the research, it is found that the share of state transfers in local budget revenues is gradually decreasing, financial dependence on public revenues is decreasing, tax revenues in the structure of local budgets are increasing, which indicates an increase in financial autonomy as a whole.