Federalism as the Key to Successful Economic Development of the State

Federalism as a political and legal phenomenon is in constant dynamics: the basic principles of federalism are subject to changes, new aspects and institutions appear. The analysis of the ongoing profound changes in the features of federal relations and a theoretical generalization of the practical experience of all federal states will make it possible to move along the path of social progress and economic development. The formation of new, as well as the development of the already existing most successful instruments and mechanisms of interaction between regions and the federal center, as well as regions among themselves, in order to build a balanced system of public power should lead to strengthening economic ties and contribute to the creation of a favorable environment for the business community.