?
Formation Of Regional Budgetary Policy Using Stochastic Dominance Methods
The global pandemic provokes a new round of volatility, which is fundamentally different, so the modern stage of development actualizes the task of determining regional economic systems' trajectories. The decisive role associated with the choice of inclusive or extractive policies, the pace of escalation of state assistance, belongs to the state. As a generally risk-neutral investor during a crisis, the state decides on the optimal distribution of funds between regions - structures affected by specific internally determined factors, which deprives them of the transitivity property. However, given the considerable uncertainty and resource constraints, there is a need to rank possible options for allocating budget flows based on risk and investment efficiency. Rank regions and industries by the degree of risk of budget investments determine regional structures and industries with unstable characteristics. The results will be used to formulate an optimal budget policy for the allocation of funds from the federal budget and the budget of entities and the development of regional strategies for overcoming the crisis finding the option of using budget funds effective according to Pareto, comparing the initial options for allocating budget funds by the method of stochastic dominance of the first and second orders using elements of voting theory. Conduct the majority choice according to the Condorcet rule, the rank ordering of alternatives. Industries and regions were ranked for the riskiness of budget investments and the efficiency of their use with applied stochastic tools of econometrics.