International Practice of Financial Support for Socio-economic Development at the Subfederal Level

Irina N. Shvetsova ()
Additional contact information
Irina N. Shvetsova: Pitirim Sorokin Syktyvkar State University, Syktyvkar, Russian Federation

Finansovyj žhurnal — Financial Journal, 2026, issue 4, 135-147

Abstract: Regional development is an important component that determines the quality of economic growth in a federal state, and the problem of its financial support requires a comprehensive solution. The study aims to analyze the international experience of financial support for regional development in countries and associations that have developed effective approaches to solving sub-federal level problems. The analysis focuses on the European Union, the People’s Republic of China, the Republic of India, and the Federal Republic of Germany. Their experiences can provide insights into approaches to solving intergovernmental budgetary issues, stimulating economic growth in regions, and financing strategic infrastructure and environmental projects. The results of the study show that successful practices of financial support for regional development programs are determined by a complex of interrelated mechanisms of interbudgetary alignment, the creation of targeted funds for the implementation of strategic projects, the promotion of competition and economic reforms at the sub-federal level, and the integration of sustainable development goals into regional policy. The use of international experience, considering country and regional specifics, is advisable when forming an optimal Russian model of financial support for socio-economic development at the sub-federal level.

Keywords: finance; budget; interbudgetary relations; financial alignment; climate financing; region; international experience; development (search for similar items in EconPapers)
JEL-codes: H54 H61 H70 H77 O18 Q01 R58 (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.finjournal-nifi.ru/images/FILES/Journa ... ii/08_4_2026_v18.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:260408:p:135-147

DOI: 10.31107/2075-1990-2026-4-135-147

Access Statistics for this article

Finansovyj žhurnal — Financial Journal is currently edited by Gleb G. Pokatovich

More articles in Finansovyj žhurnal — Financial Journal from Financial Research Institute, Moscow 125375, Russia Contact information at EDIRC.
Bibliographic data for series maintained by Gennady Ageev ().