Typology of regions and corresponding implementation of diversified regional policy

The article deals with the issues of improving federal policy with respect to regional development. The author analyzes the effects of such policy and identifies certain negative aspects of it. The goal of the article is to suggest ways to improve federal policy toward regional development. The main idea is to classify regions putting them into groups according to their socio-economic potential and current state of development and implement measures aiming at stimulating development of each group of regions. The most well-known regional typologies are analyzed, similarities and differences are pointed out. The conclusion is made that the most effective policy to promote regional development should be based on utilizing the region’s own social and economic potential through enhancement of its investment attractiveness.