FІNANCІAL AND ІNVESTMENT SUPPORT FOR THE DEVELOPMENT OF TERRІTORІAL COMMUNІTІES OF THE VOLYN REGІON ІN MODERN CONDІTІONS

Abstract

After the large-scale invasion of Russian troops in 2022, the situation changed dramatically. There was a virtual shutdown of the economy in a number of regions, a significant number of enterprises are still in a state of relocation, and a huge mass of people were forced to leave their homes in search of safer housing and new work. At the same time, the system of international economic relations of Ukraine and its regions is being transformed to a large extent. Global geopolitical shifts cause the emergence of such new challenges as the intensification of the struggle for credit and investment resources, the threat of the outflow of qualified personnel abroad, the deformation of a number of traditional economic institutions, the risk of increasing poverty, etc. In this situation, the problem of finding adequate mechanisms and levers for the effective use of the investment and financial potential of the regions of our country, as well as ways of its further expansion, is significantly actualized. The development of local territorial communities is impossible without a rational and effective system of providing them with sufficient financial resources. The main mechanisms capable of increasing the financial and investment potential for the development of various types of Ukrainian regions in the conditions of modern challenges of globalization and martial law include: institutional and organizational (based on the optimization of institutional processes in the regions), information and communication (consists in the application of modern tools and means exchange of information with the aim of increasing the financial, budgetary and investment capacity of the region), as well as cluster (based on the formation of clusters capable of attracting financial and investment resources from Ukraine and abroad). It has been proven that the most important factors in the formation and development of financial and investment potential at the regional level are: institutional processes that determine the quality of the institutional environment of the region; openness of local authorities to cooperation with business and investors; the quality of human and social capital, as well as the level of development of various types of infrastructure; peculiarities of the geographical and spatial location of the region.