Сonstitutional economics and economic functions of a modern state in the context of globalisation: conceptual aspect

  • O. Loshchykhin Educational and Scientific Humanitarian Institute Taurida National V. I. Vernadsky University, Ukraine http://orcid.org/0000-0001-9689-1650
Keywords: globalization; constitutional economics; constitutional law; economic function of the modern state; economic system of society; economic human rights and freedoms; economic interests; economic relations, mechanism of organization; legal and democratic state.


The article is focused on research of the globalisation process at the modern stage of overall global social development. It is becoming a firmly established fact that globalisation as an objective and inevitable process of any country determines the orientation of Ukraine on integration with the international community and inclusion in the processes of planetary scale in all functioning spheres of the society. Based on the analysis and synthesis of different approaches to understanding globalisation and its consequences, it is concluded that globalisation is a complex, internally contradictory process of interaction and interdependence of various participants in international relations (states, international organisations, multinational companies, other participants) across all major directions of their functional activities. Contradictions between national and supra-national interests produce interstate conflicts, require strengthening of the protective function of law. The article presents a comprehensive comparative legal analysis of the world constitutional practices around constitutional and legal consolidation of economic relations, determines the range of relationships based on the experience of foreign countries. Piecemeal approach to the study of the impact of the Constitution on the economic development of society and the state in modern scientific literature not only makes it critical from legal theory perspective, but also results in a heated political debate on this matter. The boundaries of the constitutional and legal regulation of economic relations defined a clear set of relationships that must be resolved by constitutional norms. The role of the constitutional and legal regulation of economic relations in the effective functioning of the economic system is discussed, as well as the range of functions allocated to the object of this study. Content and the ways of implementing the constitutional regulation principles of individual economic systems of the world are revealed, as well as the fact that guarantees of freedom of property relations constitute an essential element of the constitutional status of the citizen and the perspectives and practices of their implementation in the conditions of modern Ukrainian realities. We studied the concept and the role of the concept of «constitutional economics», as well as prospects for its implementation as part of the new Ukrainian economy formation. The article considers the achievements of legal science and is based on analysis of foreign countries’ and international law’s complex research concepts of «constitutional economics» and «economic function of the modern state». The basic principles of constitutional value and international law, the current trend of internationalisation of constitutional law, constitutional norms of constitutional economics as a mechanism for organising democratic and legal state are explored. Legal status of state within the constitutional economy is analysed. Analysis of regulatory consolidation of constitutional economics is provided. Separately, the concept of «constitutional economics» is derived as it is an innovative, practical and scientific concept, which combines two different system sciences: legal and economic, for comprehensive analysis, problem solving and their prevention through the interaction of constitutionalism and economic factors. Implementation of economic constitutionalism is one of the prerequisites for integration into the world community. The success of reform aimed at creating a market economy is largely dependent on the banking system, but the foundation acts as a fundamental constitutional right, which derives from science of constitutional economics. Specific practical elements of constitutional economics are the financial resources of the bank, which have power and property nature and are used to establish the budget, tax, monetary systems of the state through constitutional and legal norms. The significance of the constitutional and legal norms governing economic relations is in determining the criteria for the correlation between the economic role of the state and the sphere of free exercise of rights, freedoms and legitimate interests of economic entities. In this regard, the following are carried out: a) consolidating the foundations of the economic system established in the society, establishing the boundaries of economic activity of the state, ensuring the stability and predictability of economic relations; b) determination of the measure and the actual content of economic freedom enjoyed by the subjects of entrepreneurial activity; c) the creation and adjustment of social conditions in which the formation of a human being as a person takes place, its integration into various social institutions; d) establishing the limits of state and public assistance to the individual, the ratio of such interference and autonomy of the individual, as well as the formation of conditions for the reciprocal influence of civil society on state institutions.


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How to Cite
Loshchykhin, O. (2018). Сonstitutional economics and economic functions of a modern state in the context of globalisation: conceptual aspect. Fundamental and Applied Researches in Practice of Leading Scientific Schools, 26(2), 239-246. Retrieved from https://farplss.org/index.php/journal/article/view/337