METHODOLOGICAL APPROACH TO ASSESSING THE EFFECTIVENESS OF THE DEVELOPMENT OF THE LOCAL GOVERNMENT MECHANISM IN THE SYSTEM OF ECONOMIC SECURITY OF THE REGION

Developing local government capabilities is essential for economic growth and regional stability. In the current context of economic and social risks, local government plays an increasing role in ensuring the financial stability of the region. The effectiveness of local government has a direct impact on the use of resources, problem solving, reducing social stress, and improving the lives of citizens. In practice, however, problems often arise associated with insufficient research on the effectiveness of these strategies, which require a method of evaluation, on financial security.
The purpose of this study is to develop a method to measure the effectiveness of local government on local financial stability. This approach should enable the assessment of the contribution of local governments to sustainable development and financial risk reduction in the region.
The work uses methods of system and comparative analysis, economic and statistical methods, as well as methods of expert assessments. System analysis is used to study the interaction of local government mechanisms with elements of economic security of the region. Economic and statistical methods made it possible to analyze the key indicators of local government activity and their impact on economic security. The method of expert assessments is used to develop and test criteria and indicators of the effectiveness of local government mechanisms. As a result of the study, a methodological approach was developed, including a system of criteria and indicators for assessing the effectiveness of local government mechanisms in ensuring the economic security of the region. Key factors influencing the effectiveness of local government bodies in the context of managing
economic risks and regional sustainability were identified. Practical recommendations for improving the work of local government to increase economic security were proposed.