Regional economy in the conditions of decentralized governance: institutional aspect

Abstract

The article examines the institutional core of the regional economy in terms of decentralized management and strengthening competitiveness. The main approaches to the decentralization of economic management on the basis of localization are outlined. The factors of formation of effective territorial communities are analyzed. Reconstructive and modernization aspects of the formation of a new institutional core are proposed. The author's interpretation of the concept of harmonization of institutional influence on the processes of regional development is given.