JEL classification: H00, H11, H19, H55, H77
Introduction. In modern conditions, characterized by deepening social and economic disparities and contradictions at the regional level, the tasks of effective redistribution of responsibilities, powers and resources at all levels of government – from functional (national) to regional and local in the context of transfer – are becoming increasingly important, a wider scope from this list from the central body (state) to regional institutions and local governments in accordance with the principles of the European Charter of Local Self-Government.
The purpose of the article is to study the functioning of modern institutions of regional economic development in terms of socialization.
Results. Peculiarities of modern institutions functioning of social and economic development in the context of decentralization reform realization are investigated. The main approaches and criteria for assessing the effectiveness of institutions depending on their functional purpose and role in the reform process are systematized, namely: purpose, scope, functional orientation, maintenance costs and level of adaptability to new conditions.
Conclusions. Methodological approaches to a comprehensive assessment of the effectiveness of decentralization reform are proposed, which can be used for monitoring and making corrective decisions at any stage of its implementation. Comprehensive analysis involves assessing structural changes in terms of 3 components that systematically characterize the achievement of the main goals of reform in the regions, in particular: organizational and administrative (reforming the territorial and administrative system and optimizing regional management), budget (forming independent, balanced regional development budgets) and social-economic (ensuring economic development, economic growth in the region and improving the welfare of citizens).
Key words: institutions, regional development, economic development, socialization.
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The article was received 10.03.2020