Administrative and legal regulation of the economy: evolution of approaches and current trends

Abstract

The article examines the existing approaches to the administrative and legal regulation of the economy, outlines their evolution, highlights the current trends in such regulation. The author refers to them: the influence of globalization and integration processes; transformation of priorities and goals in the economic sphere; formation of qualitatively new and improvement of traditional forms of such regulation; reflection of basic constitutional principles; digitalization; increasing the preventive component, generating incentives for the conscientious behavior of economic agents. Taking into account the identified trends in administrative and legal regulation of the economy will increase the efficiency of such regulation. The author makes a conclusion about the strengthening of the role of the state, its administrative and legal mechanisms in the regulation of economic relations in the modern period.