Complex Methodical Approach to Assessing the Effectiveness of Managing the Financial Capability of the Russian Federation Subjects
Complex Methodical Approach to Assessing the Effectiveness of Managing the Financial Capability of the Russian Federation Subjects

Summary/Abstract: In the current context, when the economic reality has become very diverse, volatile and less favorable, the problem of effective management of financial capability of the Russian Federation subjects is of particular importance. The authors employed a systematized method for economic and statistical evaluation of the influence of the financial resource availability level of the Russian Federation subjects as a factor of the socio- economic well- being of today’s territories. The article presents the results of development and theoretical underpinning of a fundamentally new complex methodological approach to assessing the effectiveness of managing the financial capability of the regions by comparing the criteria of ‘integrated index of financial capability’ and ‘growth rates of the socio- economic well- being indicators’ proposed by the authors; its systematic mathematical algorithm is presented. The authors have researched the feasibility of practical application of the proposed criteria and the presented mathematical algorithm in assessing the management of the financial capability of the Russian Federation subjects constituting the Urals Federal District. The article is elaborating upon the area of comprehensive assessment of managing the regions’ financial capability, which remains under- characterized in the national financial science, and provides an opportunity to modernize the existing approaches to the assessment.

• Details
• Contents