Negative influence of the crisis processes on the State and business cooperation in terms of implementation of socially significant investment projects has been reviewed in the article. It has been demonstrated that the major crisis threats to development of partner relations of the State and business are based on the general economic situation in the country; they have a direct impact on financial condition of the public and private sectors. It has been demonstrated that the Investment fund of the Russian Federation has not yet become a financial basis for modernization of the country and effective development of regions. Institutional and business factors of risks distribution in the context of private-public partnership have been determined.

This paper reviews socio-economic factors that cause the need for modernization of social development in the Russian Federation. Among the most significant ones, structural imbalances in the Russian economy and low efficiency of public administration system are identified. The authors have disclosed the nature and content of the modernization process. Taking into account the opinions of famous Russian scientists and economists, its implementation principles have been systematically identified and highlighted: 1) systematic and consistent solutions to problems of economic development; 2) targeted direction of the consolidation of Russian society; 3) socially and environmentally oriented development strategy; 4) scientific support of modernization; 5) improvement of regulatory and supervisory role of the state at all stages of modernization process. The paper specifies the shape and structural elements of modernization in Russia, including large-scale renovation of production through the formation of advanced sixth and seventh elements of technological structures, training of advanced specialists capable of servicing high-tech equipment; establishment of institutions of innovative development, formation of financial and credit sources for modernization. In conclusion, the authors justified theoretical and methodological approaches to evaluating the final result of modernization, the human development index is suggested to be used as the indicator.

The authors proceed from the thesis that the interaction between business and government is essential for the development of each state. This paper investigates the institutional framework of public-private partnership (PPP) in the Russian Federation. Based on the assessment of regulations functioning in Russia, it is concluded that, despite a number of legislative acts designed to regulate the scope of partnerships between the public and the private sector, due to the limited range of the issues and the lack of essential problems range studied, the question of legislative support to the PPP is not resolved. The role of public institutions in the development of interaction between government and business is shown. Based on the analysis of a large factual material, the institutions of PPP development are evaluated: the Investment Fund of the Russian Federation, state corporations, venture innovation funds and special economic zones. This paper states that for each country and region it is essential to identify the priority sectors of public-private partnership.

This paper considers an essential element of economic security in today's terms — financial security, the essence of which lies in the formation of stable cash flows, providing the ability to develop regional systems, mainly due to their own economic and financial resources. The place and importance of regional governance arrangements of financial resources, the formation of their sources is shown. The structure of the consolidated fiscal balance area as the main tool of analysis of all traffic of financial resources generated and distributed in the region is revealed. Expediency of reproduction approach to the evaluation of financial flows of the territories is substantiated. Internal financial and economic resources of the region are disclosed. The main methods of classification of regions on the structure of financial sources for development are shown. The proposals to strengthen the financial capacity of the territories are formulated.

The paper reviews the development of theoretical concepts and conditions for the organization of self-developing territorial systems. Significance of management mechanisms of regional financial resources for ensuring financial stability of territories is shown. Aspects of budgetary policy of the Russian Federation are evaluated, the reasons of its low efficiency are revealed. A process of transformation of subsidized regions into self-developing ones is defined in economics terms. The paper proves that the growth of economy social orientation is the key condition for the concept of self-development of territories to be realized. Criteria and key indicators which can be applied to the evaluation of financial situation of regions, the level of social orientation of economies of territories during their transformation into self-developing ones, are defined. Criteria, key indicators and evolution stages of underdeveloped subsidized regions are defined. Formation conditions of self-developing regions are specified. Special priority is given to the development of institutional environment, organization macroeconomic conditions providing transformation of subsidized regions into self-developing states.

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.