The instruments of regional cooperation development

Today the regional cooperation and integration (RCI) between the entities of the Russian Federation is the most important mechanism for state economic development, since it allows the state to effectively distribute investment flows between regions, reduce gaps in incomes, use the resources of the state and each region most effectively, providing economic, financial and social well-being of the Russian Federation. Integration trends are strengthening as a consequence of economic instability, financial crises of 2020-2022, as well as macroeconomic shocks in the context of the geopolitical situation, which demonstrates the growing importance of the effective use of key methods and tools of interregional cooperation. Regional economic integration within one state is one of the ways for countries to achieve national interests, since it allows expanding and optimizing the domestic market. The advantages of interregional cooperation are the free flow of trade and investment in the regions, which makes it possible to achieve great results in socio-economic development of the regions. The frequency of interaction between regions and the depth of interregional cooperation depends on the functional boundaries of the regional communication and interconnection. The matrix of the perspectives of the development of economic cooperation between the regions allows to determine the necessary measures and tools for further intensifying regional interaction. Innovations growth and technological progress contribute to the new instruments of interregional cooperation development, as well as outdated methods revision, which makes it possible to build successful strategies for economic and financial cooperation between regions. There are several classifications of key tools for the development of economic cooperation: the main instruments are administrative, organizational, economic and financial, the integrated use of which, together with the consistent distribution of resources and capabilities of the regions, contributes to the development and economic growth of each region of the Russian Federation.