The article deals with questions of increasing the management efficiency of the regional financial resources. As the main hypothesis, the idea of the optimization of the management of the regional financial flows based on the multiplicative economic effect is proved. This measure will allow to evaluate more efficiently the impact of the regional socio-economic policy. The article presents a multifactor model of the management of the regional financial flows on the regional level — the matrix of financial flows, based on the principles of the general economic equilibrium theory, the balance method of «input-output» and the methodology of national accounts. The paper introduces a methodology for the integration of the regional consolidated budget balance in a matrix of financial flows. Matrix multipliers of the consolidated budget balance are calculated for some regions of the Russian Federation allowing to model the economic multiplicative effects resulting from impact of different types of exogenous factors on the economic development of the regions, such as to predict the impact of fiscal redistribution on the GRP and income, to assess the impact of foreign investment on economic growth, to explore the effectiveness of the federal tax policy at the regional level. The article shows that the multiplier effect depends on several factors, including the foreign trade relations of the region, its dependence on imports, the share of value added in gross output, as well as the household savings. Various levels of government can use the author’s approach during development of strategies for socio-economic development, in assessing the extent and direction of the influence of exogenous factors on the economy of the territory, as well as in analyzing the investment initiatives from the private sector applying for state financial support for projects. In the conclusion, the ways of improving the management of financial flows on the basis of maximizing the multiplicative economic effects in the short and medium term for regions with a different level of budgetary provision are proposed.

The article focuses on assessing the effectiveness of investment projects implemented on the principles of public-private partnership (PPP). This article puts forward the hypothesis that the inclusion of multiplicative economic effects will increase the attractiveness of public-private partnership projects, which in turn will contribute to the more efficient use of budgetary resources. The author proposed a methodological approach and methods of evaluating the economic efficiency of PPP projects. The author’s technique is based upon the synthesis of approaches to evaluation of the project implemented in the private and public sector and in contrast to the existing methods allows taking into account the indirect (multiplicative) effect arising during the implementation of project. In the article, to estimate the multiplier effect, the model of regional economy — social accounting matrix (SAM) was developed. The matrix is based on the data of the Sverdlovsk region for 2013. In the article, the genesis of the balance models of economic systems is presented. The evolution of balance models in the Russian (Soviet) and foreign sources from their emergence up to now are observed. It is shown that SAM is widely used in the world for a wide range of applications, primarily to assess the impact on the regional economy of various exogenous factors. In order to clarify the estimates of multiplicative effects, the disaggregation of the account of the “industry” of the matrix of social accounts was carried out in accordance with the All-Russian Classifier of Types of Economic Activities (OKVED). This step allows to consider the particular characteristics of the industry of the estimated investment project. The method was tested on the example of evaluating the effectiveness of the construction of a toll road in the Sverdlovsk region. It is proved that due to the multiplier effect, the more capital-intensive version of the project may be more beneficial in terms of future tax revenue. The proposed method can be used by the state and municipal authorities in the evaluation and substantiation of projects on a public-private partnership.