Regional Policy: Social Compensation or Economic Development?
In developed countries’ regional policy, dating back to the early 1930s, has traditionally been focused on social, rather than political, goals. At the same time, the government, which is responsible for its implementation, acted through the economy. The scope of regional policy had been growing rapidly until the mid 1970s, despite the economization of regional policy. The modern regional policy is a rather complex mixture of humanitarian and economic perspectives, encompassing economic, social, environmental, demo graphic, and other factors. Currently, there is a heightened attention towards regional policy in Russia because it is the only channel of subsidizing the country’s domestic economy.
