The article discloses theoretic and methodological basis for evaluation of the development level of the regional economy. The extended group of factors is represented that have the effect on the development of the regional innovative processes and provide for the transfer of economy to the path of innovative development. The author's method for monitoring of the development level of the regional economy is developed that allow to determine the potential of the territorial economic development in a more objective manner.
Highlights:
► nowadays, no existing methods can be called the universal one, because economic systems develop and evaluation criteria are always revised
► combination of various factors and industrial conditions, specific features of development in certain countries and regions don't allow to evaluate the development level in an authentic manner.
► the level of the economic development of the region and the country as a whole is characterized by industrial rates of main product types that are basic for the economic development
► the most rational option for selection of the evaluation method of the development level of the regional economy is the complex of methods that will allow to determine and to compare results via different evaluation methods to obtain the accurate data about the regional economic development level
► to quickly obtain a more authentic data about effectiveness of economic systems, evaluation of their development level, the appliance of the suggested method for evaluation of the regional economic development level is deemed adequate and reasonable
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