Comparative assessment of the level of financial and economic security of regions in the Volga Federal District: Studying the interregional differentiation

Abstract

Subject. Economic security issues are recognized as the country's priority. The existence of interregional differentiation poses a risk to the achievement of national sustainable economic development goals. Objectives. The study aims to underpin the fundamental role of financial and economic security, being the key element of economic security in overcoming the inter-regional territorial imbalance. Methods. The study employs general scientific methods, including the methods of systems analysis, comparative analysis, logical, and deductive analysis. Results. I use the case of the Volga Federal District regions, to calculate indicators, characterizing the differentiation, based on the components of financial and economic security. For this purpose, I include the volume of gross regional product per capita, the amount of investment in fixed capital per capita, the number of employed in the economy, the income of consolidated budgets of the subjects of the Russian Federation, the retail turnover per capita, and the volume of fee-based services rendered to the population. The paper clarifies the concept of financial and economic security through the terminological analysis and highlighting various features. Conclusions. The analysis revealed uneven growth in security indicators and, as a result, threats to balanced sustainable development of the regional socio-economic system. A qualitatively new approach to economic policy is required. It should combine recent scientific and technological developments and efficient use of human potential.