THE ANALYSIS OF THE FINANCIAL SYSTEM DEVELOPMENT IN THE CONSTITUENT ENTITIES OF THE RUSSIAN FEDERATION IN TERMS OF FINANCIAL SECURITY

The study of financial security management on the regional level is the most important condition for the achievement of economic system efficiency and has special significance for national security. Regardless of the fact that the financial system of the state is generally rather stable, most of regional financial systems are unstable due to the social and economic differences, dependence on federal center, and debt problems, that makes actual the study of the parameters of spheres and elements of financial system, financial flows to achieve financial security. The paper specifies the concept system in the sphere of finance and financial security, gives the definitions of key concepts and proves that regional financial security should begin with the complex analysis of the financial system development of a territory. The authors analyzed the strategies of social and economic development of the constituent entities of Northwestern Federal District concerning the documentation of security types and factors of sustainable development of regions regarding their conformity with the tasks of regional social and economic development. The authors identified the factors influencing the stability of the financial system development of the region and risks producing, proposed the criteria of assessment of the financial system development. Risks and threats of regional financial security are grouped according to the impact areas; specific threats to the financial system stability are specified for each area. The authors estimated the level and risks of financial system development of the RF constituent entities using the technique of the multi-factor assessment with the classification according to five groups - from the group consisting of the RF constituent entities with the developed financial systems to the group with the depressed regional financial systems.

financial security, financial system of a region, sustainable development, risks, financial security indicators