Regional Economics: Theory and Practice
 

Strategic and financial management of the struggling region development: The Tyva Republic case study

Vol. 16, Iss. 11, NOVEMBER 2018

Received: 9 August 2018

Received in revised form: 31 August 2018

Accepted: 20 September 2018

Available online: 16 November 2018

Subject Heading: REGION IN NATIONAL ECONOMY

JEL Classification: Q57, Q58, R11, R12

Pages: 1998–2014

https://doi.org/10.24891/re.16.11.1998

Balakina G.F. Tuvinian Institute for Exploration of Natural Resources of Siberian Branch of RAS, Kyzyl, Tyva Republic, Russian Federation
balakina.gal@yandex.ru

ORCID id: not available

Koloskova N.V. Siberian University of Consumer Cooperation, Novosibirsk, Russian Federation
natashak2002@list.ru

ORCID id: not available

Subject This article compares the financial and economic performance data of the economically challenged region with their average level in Russia.
Objectives The article aims to justify the main directions of improvement of the regional policy of the Federal authorities responsible for the mechanisms of transferring budget funds to bolster struggling regions.
Methods For the study, we used the methods of systems, economic, and statistical analyses, classification, comparison, and the Delphi technique.
Results The article defines directions of improvement of strategic and fiscal policies concerning the socio-economic development of the Tyva Republic as an economically depressed area.
Conclusions and Relevance The socio-economic situation in the Tyva Republic keeps on deteriorating. Using system-based fiscal transfers can be an effective way to improve the budget system. The conclusions of the article can be used by the management bodies in developing strategic directions of regional development management.

Keywords: strategic planning, Tyva Republic, budget, economically depressed region, regional policy

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