Managing the economic development of the regions of Ukraine

In the article it is concerned the definition of the main priorities of management in economic development of the region based on its saturation economic entities and relationships. It has benn determined the main cause of negative consequences that is the lack of an effective modern system of regional governance and the circumstances which are quite hinder the development of Ukraine's regions based on the rational use of natural economic, labor and scientific potential. It is noted that the overall management concept of regional economic development should aim at taking into account the positive manifestations of expanding economic space regions. It has been created the model of the concept of management in economic development of Ukraine's regions, the factors of influence on the economic development in the region. The basic directions and principles of division of powers between the central authorities of the state and regional authorities have been ored. It has been determined that regional level of government that has its own specific characteristics. Its hallmark is the political motivation as a part of administrative decisions regarding the strategic plan for economic development. It has been proved that each economic region is indivisible territorial economic system in which the main role belongs to market sectors of specialization. Financial instability and domestic crisis in Ukraine led to the need to adapt regions to radical changes in the economy.