Regional development disparities and functional tools of its regulation

Keywords: region, disparities in regional development, investment resources, local budget, regional development strategy, the concept for regulating of disparities in regional development
Session Type: Virtual Paper Abstract
Day: Sunday
Session Start / End Time: 2/27/2022 09:40 AM (Eastern Time (US & Canada)) - 2/27/2022 11:00 AM (Eastern Time (US & Canada))
Room: Virtual 4

Abstract

In the research it is shown that the importance of carrying out of structural transformations within Ukraine on the basis of using the internal potential of regional economies make the importance of regulation of systemic regional development characteristics, one of which is the disparities in social and economic development of regions. It is stated that through the regulation of disparities, it is possible to achieve both the maximum positive effect (change the redistribution of investment in favor of weaker regions) and the minimum negative effect (reduce the scale of disparities in social and economic indicators, decrease the cost of certain measures which change the disparities’ indices). The key features for constructing the concept of disparities regulation are determined: the need to formulate the goals of disparities regulation, to determine the time frame in the regulation of disparities, to define the prevailing methods of disparities regulation in regional development. The concept of strategic regulation of regional development disparities is formed, which is based on a gradual change of the paradigm of overcoming disparities by the paradigm of their effective use. A methodological synergetic-activity approach for the disparities regulation is based on a combination of the use of a synergetic approach to the assessment of disparities and streamlining the activities of institutions. The activities of stakeholders in the strategic management of disparities create a synergistic effect to improve the quality of strategic management of disparities. The obtained results can be used by local authorities in developing the regional development strategies.