SPATIAL POTENTIAL AND THE SYSTEM OF INDICATORS FOR MEASURING THE FINANCIAL SPACE OF REGIONS

Abstract

The article examines the conceptual foundations of the concept of «spatial potential» – introduced into scientific discourse as an independent research category—and proposes a system of indicators for measuring the financial space of regions. The author views the region’s spatial potential as the territory’s integrated capacity to generate, accumulate, and redistribute economic and financial resources, a capacity determined by the configuration of spatial linkages, the level of interaction among actors, and the region’s position (distance) within the «center–periphery» system. The author noted that, unlike financial potential, spatial potential is determined by a region’s relative location and its integration into national and global flows; its second characteristic is dynamism, the third is emergence, and the fourth is measurability through indicators of density, connectivity, and centrality. The introduction of the proposed category of «regional spatial potential» aligns with the priorities of state regional policy and modern international approaches. The author noted that the financial space, viewed as a systemic entity – and in contrast to existing approaches that focus its systemic properties primarily on institutional, resource, or fiscal subsystems – is presented as a synthesis of five structural subsystems: institutional, resource, instrumental, regulatory, and informational. On this basis, the author noted that these subsystems are capable of capturing the spatial potential dimension, thereby overcoming the limitations of one-dimensional assessments, revealing hidden structural imbalances in regional financial development, and opening up new opportunities for diagnosing and designing regional financial policy mechanisms. The author proposes a six-dimensional approach to analyzing financial space (depth, accessibility, efficiency, stability, inclusivity, and integration). Supported by an analytical toolkit aligned with the proposed structure of financial space – comprising institutional, resource, instrumental, regulatory, and informational subsystems – this approach overcomes the limitations of one-dimensional assessments and enables a comprehensive measurement of parameters. This is crucial for evaluating spatial and financial potential within the context of formulating and implementing regional development strategies.