THE COMPARATIVE ANALYSIS OF FINANCIAL MECHANISMS OF STRUCTURAL AND TERRITORIAL DEVELOPMENT OF ECONOMY IN THE CERTAIN EUROPEAN COUNTRIES*

Abstract

Proceeding from a prerequisite about dependence of rates and the nature of economic development of national economies on the nature of institutional architecture of a financial system features of influence of the settled funding mechanisms on transformation of structure of economic systems of Estonia and Poland were analyzed. It is revealed that in both countries, but in different degree there is a problem of deficiency of financial resources, first of all domestic, that confirms symptoms of "anemia" as diseases of a financial system. However owing to more effective mechanisms of privatization via channels of the stock market in Poland, for this country this problem had smaller sharpness. It was also found that deindustrialization processes for various reasons in Estonia have come far further than in Poland that causes more expressed social nature of investments and the movements of public financial flows.