Methodology for the Integral Evaluation of the Financial Stability of the Regional Economy on the Example of Altai Region

Abstract

The article defines the need to assess the financial stability of the regional economy using the example of the Altai region. The study is based on the development of assessment methods and criteria to determine the level of financial stability of the regional economy. The methodology of integrated assessment was selected as an effective tool for conducting the assessment, which allowed the most reliable assessment of the financial stability of the region based on statistical data borrowed from official sources of federal state statistics. Based on the presented data, the author investigated gross regional product per capita, indicators of the financial and economic development of the region, production growth rates, structure of budget revenues and expenses. The characteristic of the region made it possible to analyze the processes taking place in the economy of the region. The assessment methodology presented by the author on the basis of financial and economic indicators made it possible to identify the state of the financial system of the regional economy. The application of the integrated assessment methodology made it possible to determine the value of the integral indicator and classify the level of the financial condition of the economy of the Altai region as a crisis. According to the results of an integrated assessment of the financial stability of the economy using the example of the Altai region, a number of problems have been identified that affect the stability of the financial system. As a solution, the author offers a set of necessary measures to ensure the sustainable development of the financial system in the region’s economy. The practical significance of the study lies in the possibility of applying state and regional authority’s assessment methods and research results for further monitoring and adjusting regional policies, which will prevent crisis situations and improve the financial situation of the regional economy of the Russian Federation.