The effectiveness of financing government programs as a policy instrument for financial stabilization of territories

Importance The subject of the research is debatable issues of methodological aspects of assessing the effectiveness of financing the implementation of state programs in order to improve the well-being of the population of the territories and in conditions when the main priority of the state is the value of people. The subject of the research is a set of theoretical and methodological issues of assessing the effectiveness of financing government programs as a policy instrument for financial stabilization of territories. The object of the research is the state programs of the Nizhny Novgorod region. Objective The aim of the work is to develop methodological approaches and practical methods for assessing the effectiveness of financing government programs as a policy instrument for financial stabilization of territories. Method A distinctive feature of the investigation is the assessment of the effectiveness of financing government programs as an instrument of the policy of financial stabilization of territories based on indicators of financing performance, the significance of financing the program, the risk of implementing government programs and the variation indicator that takes into account the risk per unit of financing of the state program. The novelty of the proposed methodological tools lies in the use of criteria not only reflecting the characteristics of funding, but also criteria characterizing the achievement of target indicators of state programs. Results The result of the investigation is the development of a methodology for assessing the effectiveness of financing government programs as an instrument of the policy of financial stabilization of territories, which allows conducting research related to the possibility of determining factors that affect not only the risk of financing government programs and subprograms, but also the achievement of target indicators of government programs and subprograms. Conclusions The studies carried out make it possible to concretize the methodology for assessing the effectiveness of financing state programs as an instrument of the policy of financial stabilization of territories and can be considered as a modern mechanism of budget management, which makes it possible to assess the degree of budgets readiness for counter risks and challenges, such as business entities and the population, but also to assess specific target indicators.