Technology of State Regulation of Regional Economy: A Systematic Approach

The article is dedicated to the examination of the issues pertaining to the development of a framework for the regulation of the regional economy at the state level. The object of the research is the process of state regulation of the regional economy. The focus of this research is an examination of the interrelationships between the state and regional economic development, with a particular emphasis on the role of state regulation in fostering regional economic growth. The purpose of the study is to form the technology of state regulation of the regional economy based on the criterion of synergy arising as a result of the interaction of legislative, executive, and control and supervisory activities by public authorities. The article elucidates the manner in which the technology of state regulation of the regional economy is constituted. It encompasses a number of structural elements, including state institutional policy, state regulatory policy, legislative activity, executive activity, control and supervisory activity, regional economic policy, and the economic environment. These elements function in concert to reconcile interests and enhance social reproduction and sustainable economic development. Such an approach to state regulation of the regional economy will expand the opportunities of the federal center to positively influence economic dynamics at the regional level, which will minimize the amplitude of fluctuations in the level of GRP and smooth out regional differences in economic and social development.