Formation of economic policy in the region: the materialistic approach

The qualitative increase in the efficiency of economic policy of the region can be achieved on the basis of in-depth theoretical and methodological study of the phenomenon. The practice of the various institutions is impossible without the use of theoretical propositions, fundamental ideas, principles and concepts. At present, the world community is developing extremely rapidly, and within the national economy competition between the regions is becoming more acute. In this context, economic policy in the region should be based on fundamental scientific knowledge. In its turn, the paradigm of the formation of economic policy in the region is filled with historical events and the needs of society. On this basis, it constantly evolves, thereby, updating the most important scientific and practical issues and search for possible solutions. The article describes the essence of the economic policy of the region from the standpoint of historical materialism. The authors set out the implementation of the features of historical materialism in terms of the regional economy. We used the method of scientific abstraction, systematic approach, analysis and synthesis, historical and logical methods. The results let us make the following conclusion: the practice of administrative activity of the state should be based on the materialist conception of history to understand and realize the nature, structure and prospects of the formation of social and economic policy in the region better and more comprehensive, and to eliminate or mitigate the permanent conflict between the productive forces and socio-economic relations.