Theoretical Foundations for the Formation of Regional Economic Policy in Domestic and Foreign Practice

Relevance. This article examines the theoretical foundations of the formation and development, as an independent discipline, of regional economic policy in the works of domestic and foreign practitioners who studied such aspects as economic geography, theories of interregional development and regulatory mechanisms. The author analyzes the ongoing regional economic policy during the Soviet period and identifies its positive and negative aspects. The theoretical basis of economic policies implemented in the regions turns out to be an indispensable source of information for researchers and politicians who not only seek to understand the characteristics of the economic situation in certain regions, but also to develop effective measures for their comprehensive development. The purpose is to analyze domestic and foreign works in the field of regional economics, determine their significance for modern research, as well as identify factors influencing the development of economic indicators of the regions. Objectives: to reveal the essence of regional economic policy, to determine the degree of knowledge of regional economic policy in the works of domestic and foreign practitioners at the present stage and in past centuries. Methodology . This work uses the method of theoretical analysis of the sources of the problem under study, the method of historical and logical analysis and assessment of the current situation. Results: the main goals of regional economic policy are formulated; the theoretical foundations of regional economic policy have been identified; the contribution of domestic and foreign scientists to the development of the regional economy was considered; an analysis of the periods in which research took place in the field of territorial and economic processes in Soviet practice was carried out; the key issues on which research in the field of regional economics in the USSR focused were identified; the author's positive aspects of regional economic policy during the Soviet period are presented; It has been determined that the concept of industrial policy is the theoretical basis of the regional economy. Conclusions. Regional economics as a scientific discipline has made a huge contribution to the economic policy pursued in the regions, which has made it possible to increase the socio-economic indicators of the development of these territories.