Optimization of Financial Flow Management Based on Estimates of Regional Multiplicative Effects
The article deals with questions of increasing the management efficiency of the regional financial resources. As the main hypothesis, the idea of the optimization of the management of the regional financial flows based on the multiplicative economic effect is proved. This measure will allow to eva...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Russian Academy of Sciences, Institute of Economics of the Ural Branch
2015-12-01
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| Series: | Экономика региона |
| Subjects: | |
| Online Access: | http://economyofregion.com/archive/2015/57/2729/pdf/ |
| _version_ | 1797700721208983552 |
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| author | Denis Aleksandrovich Tatarkin Elena Nikolayevna Sidorova Aleksandr Valeryevich Trynov |
| author_facet | Denis Aleksandrovich Tatarkin Elena Nikolayevna Sidorova Aleksandr Valeryevich Trynov |
| author_sort | Denis Aleksandrovich Tatarkin |
| collection | DOAJ |
| description | The article deals with questions of increasing the management efficiency of the regional financial resources. As the main
hypothesis, the idea of the optimization of the management of the regional financial flows based on the multiplicative economic
effect is proved. This measure will allow to evaluate more efficiently the impact of the regional socio-economic policy. The
article presents a multifactor model of the management of the regional financial flows on the regional level — the matrix of
financial flows, based on the principles of the general economic equilibrium theory, the balance method of «input-output» and
the methodology of national accounts. The paper introduces a methodology for the integration of the regional consolidated
budget balance in a matrix of financial flows. Matrix multipliers of the consolidated budget balance are calculated for some
regions of the Russian Federation allowing to model the economic multiplicative effects resulting from impact of different types of
exogenous factors on the economic development of the regions, such as to predict the impact of fiscal redistribution on the GRP
and income, to assess the impact of foreign investment on economic growth, to explore the effectiveness of the federal tax policy
at the regional level. The article shows that the multiplier effect depends on several factors, including the foreign trade relations
of the region, its dependence on imports, the share of value added in gross output, as well as the household savings. Various levels
of government can use the author’s approach during development of strategies for socio-economic development, in assessing the
extent and direction of the influence of exogenous factors on the economy of the territory, as well as in analyzing the investment
initiatives from the private sector applying for state financial support for projects. In the conclusion, the ways of improving the
management of financial flows on the basis of maximizing the multiplicative economic effects in the short and medium term for
regions with a different level of budgetary provision are proposed. |
| first_indexed | 2024-03-12T04:25:44Z |
| format | Article |
| id | doaj.art-3e8e59c23c4e448489313449f329b7c9 |
| institution | Directory Open Access Journal |
| issn | 2072-6414 2411-1406 |
| language | English |
| last_indexed | 2024-03-12T04:25:44Z |
| publishDate | 2015-12-01 |
| publisher | Russian Academy of Sciences, Institute of Economics of the Ural Branch |
| record_format | Article |
| series | Экономика региона |
| spelling | doaj.art-3e8e59c23c4e448489313449f329b7c92023-09-03T10:23:29ZengRussian Academy of Sciences, Institute of Economics of the Ural BranchЭкономика региона2072-64142411-14062015-12-012015432333510.17059/2015-4-25Optimization of Financial Flow Management Based on Estimates of Regional Multiplicative EffectsDenis Aleksandrovich Tatarkin0 Elena Nikolayevna Sidorova1Aleksandr Valeryevich Trynov2Institute of Economics of the Ural Branch of RASInstitute of Economics of the Ural Branch of RASInstitute of Economics of the Ural Branch of RASThe article deals with questions of increasing the management efficiency of the regional financial resources. As the main hypothesis, the idea of the optimization of the management of the regional financial flows based on the multiplicative economic effect is proved. This measure will allow to evaluate more efficiently the impact of the regional socio-economic policy. The article presents a multifactor model of the management of the regional financial flows on the regional level — the matrix of financial flows, based on the principles of the general economic equilibrium theory, the balance method of «input-output» and the methodology of national accounts. The paper introduces a methodology for the integration of the regional consolidated budget balance in a matrix of financial flows. Matrix multipliers of the consolidated budget balance are calculated for some regions of the Russian Federation allowing to model the economic multiplicative effects resulting from impact of different types of exogenous factors on the economic development of the regions, such as to predict the impact of fiscal redistribution on the GRP and income, to assess the impact of foreign investment on economic growth, to explore the effectiveness of the federal tax policy at the regional level. The article shows that the multiplier effect depends on several factors, including the foreign trade relations of the region, its dependence on imports, the share of value added in gross output, as well as the household savings. Various levels of government can use the author’s approach during development of strategies for socio-economic development, in assessing the extent and direction of the influence of exogenous factors on the economy of the territory, as well as in analyzing the investment initiatives from the private sector applying for state financial support for projects. In the conclusion, the ways of improving the management of financial flows on the basis of maximizing the multiplicative economic effects in the short and medium term for regions with a different level of budgetary provision are proposed.http://economyofregion.com/archive/2015/57/2729/pdf/multipliermatrix of financial flows (MFF)multiplicative effectconsolidated budget balanceendogenous and exogenous factors of economic growth |
| spellingShingle | Denis Aleksandrovich Tatarkin Elena Nikolayevna Sidorova Aleksandr Valeryevich Trynov Optimization of Financial Flow Management Based on Estimates of Regional Multiplicative Effects Экономика региона multiplier matrix of financial flows (MFF) multiplicative effect consolidated budget balance endogenous and exogenous factors of economic growth |
| title | Optimization of Financial Flow Management Based on Estimates of Regional Multiplicative Effects |
| title_full | Optimization of Financial Flow Management Based on Estimates of Regional Multiplicative Effects |
| title_fullStr | Optimization of Financial Flow Management Based on Estimates of Regional Multiplicative Effects |
| title_full_unstemmed | Optimization of Financial Flow Management Based on Estimates of Regional Multiplicative Effects |
| title_short | Optimization of Financial Flow Management Based on Estimates of Regional Multiplicative Effects |
| title_sort | optimization of financial flow management based on estimates of regional multiplicative effects |
| topic | multiplier matrix of financial flows (MFF) multiplicative effect consolidated budget balance endogenous and exogenous factors of economic growth |
| url | http://economyofregion.com/archive/2015/57/2729/pdf/ |
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