UDC 336:332.122:330.3
Kozoriz, M. A., & Storonyanska, I. Z. (2014). Stratehichni imperatyvy upravlinnya finansamy rehionu [Strategic imperatives of financial management in the region]. Rehional'na ekonomika - Regional Economy, 73(3), 192-204. [in Ukrainian].
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This article provides justification of theoretical approaches to the isolation of such categories as «finance of the region» and the definition of its purpose in ensuring the effective functioning of the Regions; determination of potential and real opportunities in the region to ensure their socio-economic development based on the sustainable use of its own financial resources; a critical analysis of existing mechanisms to present financial management regions and identify the causes of low efficiency is presented; new directions to ensure effective financial management regions based on consideration of changes and opportunities created under the influence of intensification of integration processes in Ukraine and in the world economy is justified.

Finances of regions is regarded as part of local finances (according to the structure of the financial system of Ukraine) and are a system of economic relations on the creation, use and distribution of financial resources between economic agents within a region in order to ensure its current functioning and development.

Feature of authors methodological approach to the study of finance in the region are laying their foundation and giving priority to the financial potential of the region formed over financial resources, allowing to expand the horizons of research by finances of the region, including their structure, along with the available financial resources of potential component, included along with budget potential financial capacity of the region, which is formed in the sectors of financial and non-financial corporations, households.

We prove the illegality of the use of a total approach to the implementation of national regional policy and its organization according to individual, selective approach to ensuring development of regions, due to the significant differentiation of regions of Ukraine in terms of financial and economic capacity and a set of other objective factors. Thus, the magnitude of the financial potential of the region has become an integral factor, to which should form the frame of financial relations between the state and the regions that will increase the responsibility of local authorities for the rational of formation, usage and accumulation of endogenous financial potential.

Keywords:

regional finance, local budgets, management, regional financial system