Methodology: The research methodology is based on statistical analysis of empirical data on the financial and economic and social development of regions, including ratings of socio-economic development of regions, investment ratings of Russian regions, economic and other economic analysis. It was made an attempt to create the mathematical (regression) models to analyze budgetary relationships for the realization of economic and social policy of the Russian regions.
Empirical base of research: It was considered the indicators of living standards and investment development of regions and made an attempt to study their relationship with the ongoing regional fiscal policies. The objectives of the research were also validation of the following hypotheses: the volume of transfers affects income growth in the region, the dynamics of transfers has a positive effect on the investment potential of the regions, the relationship of changes of subsidies and per capita monetary income. Was analyzed the degree of dependence of regions on transfers and borrowings.
Results of research: The current research examines the factors that influence on the formation of intergovernmental relations at the Federal and regional levels. While studying the foreign experience of policy of intergovernmental alignments the authors identified key country types of such alignments. The existing approaches and methods of intergovernmental alignments used in Russia were analyzed. Intergovernmental transfers aimed to ensure the budget obligation sand socio-economic growth in regions which differ from each other by natural-geographic, socio-economic and historical factors.
On the example of three regions (Chukotka, Khanty – Mansiysk, Kaluga region) the analysis of the balance of investments in fixed capital, debt obligations and expenditure on socially oriented activities were made. Such regions are significant types of regional policy.
Level of implementation, recommendations on implementation or outcomes of the implementation of the results (еhe main results of the study):
- Development of theoretical bases of interaction of factors of budgetary policy in Russia, which influence on investments in economy and social development for ensuring regional growth.
- Improving the methodology of research of the relationship of budgetary provision, budget alignment, investment, human capital and socio-economic growth in Russian regions.
- Creation of regression models on the dynamics and interrelation of fiscal policy, human capital, investment and socio-economic growth in the regions of Russia (2000 – 2014).