Importance Managing the region’s economic security and respective issues are complicated since they combine many aspects, requiring not only economic tools, but also legislative ones. Notwithstanding that the economic security mechanism needs to be developed and improved, the Russian researchers focus more on building corporate mechanisms, rather than regional or national ones. Therefore, it is important to investigate possible factors influencing the regions’ economic security and the need to design an effective mechanism for developing the economic security of the region. Objectives The research constitutes my own comprehensive investigation and evaluation of certain factors of the regional mechanism for economic security in all constituent entities of the Russian Federation in terms of the economic security level. Methods Studying the factors influencing the regional mechanism for economic security, and determining the economic security level in the Russian regions within 2006–2016, we apply methods of indicative and statistical analysis, and forecasting method for the 2017–2021 period. Results According to the economic security indicators, only one fourth of the Russian constituent entities match the crisis-free level. A similar situation generally perseveres in modeling three types of forecasts. Therefore, it seems reasonable to improve the regional mechanism for economic security. Conclusions and Relevance Improving the regional mechanism for economic security requires assessing and evaluating the factors, indicating possible regulatory tools and implementing respective ones.
Keywords: economics development, healthcare spending, education spending, federal budget, development policy
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