MODERN DETERMINANTS OF REGIONAL DEVELOPMENT

The aim of the article is to determine and systematize modern determinants of the regional development as well as mechanisms and instruments of its implementation.The object of the research is the process of regional development.The subject of the research are the factors of the modern regional development.The modern determinants of regional development were determined in the article. The aim of the regional development is sustainable improvement of individuals life quality. The determinants were divided into local, regional, national, global – on the one hand, and into individual, corporate, regional, macroeconomic – on the other hand. The above-mentioned determinants influence the development of regions significantly. The effective instruments and mechanisms of regional development include public relations and cooperation with the local authorities, business clusters and soft infrastructure development