Systemic elements for providing the mechanism for the implementation of regional economic policy

The article examines the theoretical aspects of regional economic policy and highlights its current challenges; various models used to implement regional economic policy are considered: the policy of equalizing the levels of development of regions, which is a state strategy aimed at reducing regional disparities in economic, social and infrastructural development, and polarized (targeted) development of regions, which refers to a policy aimed at concentration resources and investments in specific regions in order to accelerate their economic growth and development; describes the modern Russian two-tier approach to economic policy, with an emphasis on both polarized and regional strategies, with polarized policies aimed at overall economic growth, and regional policy serving as a development tool; the federal and subfederal levels of the regional economic policy of Russia are considered, while the federal regional policy is aimed at solving territorial problems affecting the national economy and interregional relations, and the subfederal regional policy is aimed at improving the spatial location of the region by focusing on various aspects, such as improving transport funds, ensuring the availability of basic necessities and addressing the challenges faced by small towns; it is emphasized that in order to ensure the success of the application of regional economic policy, it is extremely important to create a well-organized mechanism within the region, the definition of the implementation mechanism is given, which is understood as the internal structure of the socio-economic system, which sets the entire system in motion, coordinating the forces of influence and interaction; lists the stages of implementation of the regional economic policy: assessment of the economic situation in the region, incl. analysis of economic data, identification of key sectors and consultations with local businesses, politicians and community leaders; setting goals and objectives; development of an action plan, which will indicate the specific steps necessary to achieve the goals and objectives; resource mobilization for the implementation of the action plan; implementation of the action plan through coordination and cooperation between stakeholders and effective communication; monitoring and evaluation; communication and feedback; describes methods for resolving territorial development issues: state participation in the most effective investment projects, development and implementation of targeted programs to improve the infrastructure of underdeveloped regions, conclusion of federal contracts for the supply of products, support for science-intensive and high-tech industries, support for small and medium-sized businesses in the regions, introduction of tax and other benefits to attract investors; explains the main components of a systematic approach to providing an effective mechanism for the implementation of regional economic policy.