Implementation of the mechanism for the development of the financial potential of the region

The article is devoted to the issues of building an effective regional financial mechanism based on the differentiated use of various tools for realizing the formed financial potential of the territory. The paper examines the content, objectives and principles of the organization of the regional financial mechanism, presents a general classification of tools for increasing and realizing the financial potential of the region and analyzes the methodological aspects of the use of individual instruments of the regional financial mechanism, taking into account the specifics of the socio-economic development of the subjects of the Russian Federation and their possibilities for accumulating financial resources. The author defines the features of using various instruments of the financial mechanism for the regions of the Arctic zone of the Russian Federation (AZRF) based on the assessment of the overall financial potential and its main elements (fiscal potential, potential of households, business entities and financial and credit sphere) of this group of subjects of the Russian Federation.