THE FINANCIAL MANAGEMENT AND REGIONAL DEVELOPMENT

• Main Author: Brindusa Tudose
• Format: Article
• Language: English
• Published: University of Bacău 2015-07-01
• Series: Studies and Scientific Researches: Economics Edition
• Subjects: financial management; public sector; private sector; regional community; regional development; Siret-Prut-Nistru Euroregion; crisis
• Online Access: http://sceco.ub.ro/index.php/SCECO/article/view/314

The main objective of the study is to examine the role that financial management plays in ensuring regional development. This is because the crisis, economic globalisation, the increasing external growth of companies and the institutionalisation of the autonomy of local communities have fuelled the interest in identifying alternatives to local and thereby regional development. The targeted operational objectives were: to define the preliminary coordinates of regional development; to identify the role of private and public financial management in supporting regional development; and to present the financing framework of the Siret-Prut-Nistru Euroregion. The main financial levers with a direct impact on regional economic development there are: tax incentives; using EU financing programmes; leverage based on ownership of buildings and land; business incubators, etc. The study suggests that financial management (both public and private) plays an important role in the development of the Euroregion, with wide-ranging present (in the post-crisis) as well as future implications.