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TERRA ECONOMICUS

Implementation of regional economic policy: An institutional approach


TERRA ECONOMICUS, Vol. 24, No 1

Citation: Rozhdestvenskaya I.A., Tambovtsev V.L. (2026). Implementation of regional economic policy: An institutional approach. Terra Economicus 24(1), 22–36 (in Russian). DOI: 10.18522/20736606-2026-24-1-22-36


Regional economic policy captures the future of a country’s regions as desired by central government in the most generalized form. This creates a certain level of ambiguity in its formulation, which can lead to different interpretations of future paths of development among different levels of the public authorities, both state and municipal. Analyzing the process of regional policy implementation from the perspective of possible cognitive discrepancies caused by organizational structures and public administration rules shapes an organizational and institutional approach to studying this process. This article discusses existing interpretations of regional policies, as well as the stages of policy implementation. We also propose approaches to resolving ambiguities through the application of multiple streams framework developed in political process theory. At the same time, this article emphasizes the importance of incorporating the concept of opportunistic behavior from new institutional economics. Taking these concepts into consideration provides opportunities to develop recommendations for improving regional economic policies.

Keywords: regional economic policy; policy implementation; internal organizational communications; institutional analysis
JEL codes: B52, D73, D83, H77, R58


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Publisher: Southern Federal University
ISSN: 2073-6606