Journal 2016#3

From subsidized regions into the self-developing units: dialectic of transformation

The paper reviews the development of theoretical concepts and conditions for the organization of self-developing territorial systems. Significance of management mechanisms of regional financial resources for ensuring financial stability of territories is shown. Aspects of budgetary policy of the Russian Federation are evaluated, the reasons of its low efficiency are revealed. A process of transformation of subsidized regions into self-developing ones is defined in economics terms. The paper proves that the growth of economy social orientation is the key condition for the concept of self-development of territories to be realized. Criteria and key indicators which can be applied to the evaluation of financial situation of regions, the level of social orientation of economies of territories during their transformation into self-developing ones, are defined. Criteria, key indicators and evolution stages of underdeveloped subsidized regions are defined. Formation conditions of self-developing regions are specified. Special priority is given to the development of institutional environment, organization macroeconomic conditions providing transformation of subsidized regions into self-developing states.