ALGORITHM AND COMPONENTS OF ANALYZING AND SUPPORTING STRUCTURAL REFORMS AT THE REGIONAL LEVEL

Abstract

The study focuses on the issues of shaping and implementing effective regional policy aimed at the sustainable and balanced development of a region as a socio-economic system. The purpose of the article is to define the algorithm and components for analyzing and supporting structural reforms at the regional level. It is noted that, when analyzing structural changes and institutional reforms at the regional level, not only the institutional environment becomes a subject of diagnostics and evaluation. The analysis also considers the capacities and stability of the region’s budgetary, financial, and overall economic systems. Methods of analysis are identified, the application of which allows for accounting of indirect nonlinear relationships between various data and their resulting characteristic—the structure of the regional economy. It is emphasized that the analysis of structural reforms cannot be limited solely to aspects of the intensity of reproduction processes occurring within the regional socio-economic system. The analysis also includes the examination of the prerequisites for structural changes, their investment and innovation factors, and the characterization of the institutional environment for structural reform of the regional economy. The algorithm and components for analyzing structural reforms at the regional level are defined and described. Third, it presupposes the application of the most appropriate methods of economic analysis at each corresponding stage of analytical work. The development of a methodology for analyzing structural reforms is one of the most complex tasks within the functions of regional structural policy. By definition, it cannot be standardized for different regions or under varying external and internal conditions and clearly requires the application of a systematic and comprehensive approach, encompassing all possible aspects of analysis. Consequently, constructing an optimal and rational system of economic analysis in this context necessitates adherence to a number of fundamental principles