REGIONAL FINANCIAL POLICY AS A FACTOR OF THE MACROECONOMIC STABILITY
The content and dynamics of the regional debt policy with the trends prevailing in the global and domestic financial markets are analyzed. The problems of internal and external borrowings of the Russian regions and the peculiarities of legal regulation are considered. The financial stability of regional budgets, taking into account trends in federal fiscal policy, is assessed. Measures to stabilize the regional budgets and to improve the quality of the regional finances are assessed.
Keywords: financial risks, regional policy, the loan market, fiscal federalism, financial stability,
public debt of the regions, stability criteria of regional budgets, fiscal rules, bankruptcy regions.
Alexey P. Kuz’kin, Doctor of Economics, Professor of Volga Cooperative Institute, Russian University of Cooperation, Engels city.