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Financing of economic growth and economic development at the subfederal level due to the limited financial resources is considered; the regularity of the formation of a new financial instrument rational financing – is justified. The concept of rational financing has been formed from the scientific and practical points of view. A methodology for determining the rationality of subfederal level financing is proposed. A factorial model of the allocation of financial resources was developed and tested, and the regions and federal districts were typologized from the standpoint of rational financing of economic growth.

Theory and Methodology of Rational Financing at Subfederal Level