The article emphasizes the necessity to concentrate in today’s conditions on the search for mechanisms that guarantee the integration of regions into a single market space while maintaining a special attitude to the peculiarities of the socio-economic development of these territories. Modernization of the economy and the transfer to an innovative way of development becomes an imperative for state intervention and support. The authors suggest a solution to the problems of socio-economic regional development and determine the prospects for the country's development in the nearest 10-15 years. Methodology. The authors apply an analytical approach to assessing the state of the country development, content analysis of theoretical and methodological approaches to the strategic planning of socio-economic development of the region. A simulated system of factors that influence the choice of strategic goals of socio-economic development of the region is suggested. The scheme is proposed of the definition of the goals of modernization of socio-economic systems and program of measures to achieve them. Results. The organizational mechanism for realization of the strategy of modernization of the region’s economy is a set of principles, forms, methods and tools of purposeful administrative influence of the state (or local) authorities of the region on social and economic processes with the aim of implementing strategic choices. The mechanism of modernization of the region’s economy should include: active and multilateral activity of the state, effective work of the respective governing bodies at different levels; the intensity of market self-regulation; the formation of relations between private business, innovation structures and the state; development of the system ‘state - science - education – business’; policy of large financial institutions and the banking sector. A rational combination of modernization strategies on the vertical basis from top and bottom provides an integrated approach to solving urgent problems, and also has a positive impact on the formation of an effective mechanism for modernizing the regional economy.
Volume 12 | 04-Special Issue
Pages: 725-732
DOI: 10.5373/JARDCS/V12SP4/20201539