Doctor of Economics, Professor at the Department of Economic Theory and Competition Policy of KNUTE
STATE ECONOMIC POLICY IN GLOBALIZATION
Background. Analysis of state policy in the economic sphere has essential methodological, theoretical and practical importance. The conceptual discourse distinguishes two approaches, each of which alone is not enough developed and methodologically grounded. Some researchers do not take into account patterns of macroeconomic equilibrium and are convinced that sustainable development of the national economy can be achieved by determining the economic priorities by policy-decision. Approach by many researchers based on absolute efficiency of market mechanisms to achieve macroeconomic stability without the need for active government economic policy is also not enough reasonable.
Analysis of recent research and publications. Works by domestic and foreign scientists occupy a prominent place among the important scientific research in the development and implementation of economic policy. However, the issue of modification of economic policy in the strenthening globalization requires further research.
The aim of the article is to outline the latest trends of economic policy modification under the influence of globalization challenges.
Materials and methods. The study is based on the scientific works of foreign and domestic economists on economic policy. A set of methods and approaches was applied that allowed to implement system and conceptual integrity of the study, namely dialectical, synthesis and comparison; systemic and institutional approaches.
Results. Prudent and balanced state economic policy involves the selection of an optimum, capable to provide the necessary results tools for the macroeconomic processes regulation. The environment in which the policy is carried out, the subject that carries it, the availability of resources and opportunities must be taken into account. In Ukraine, the implementation of such a policy should take place through deep institutional reforms and combination of market instruments with state policy aimed at ensuring sustainable economic growth. State policy in developed countries each time contributes more to the use of the positive potential of the cooperation of all the economic actors.
Conclusion. To ensure the effectiveness of economic policy should be build such institutional trajectory, which can ensure a gradual transition to a model that is directed both at the development of competition, and to overcome limitations through the gradual formation of cooperative relations between the government, business sector and society.
Keywords: economic policy, globalization, state, liberalization, economic model.