Problemi Ekonomiki (Mar 2018)
The Role of the State in Economic Development: the Main Theoretical Approaches
Abstract
The aim of the article is to investigate the impact of institutional changes on the economic development of society and determine the extent to which the institutional status of the state is being realized under global uncertainty. Analyzing, systematizing and summarizing scientific works of a number of scientists, new approaches are considered with regard to the features of the functioning and interaction of state institutions as well as the creation of institutional foundations for the formation of an effective state policy adequate to the contemporary economic realities and the needs of society. As a result of the study, the conditions that modify the role of the state are characterized, differences in the interaction of the state and the economy at the current and previous stages of social and economic development are revealed. It is determined that the provision of the institutional status of the state under modern conditions involves both the continuation of the search for its socio-political formation and geostrategic identity and a significant transformation of the socio-economic development of society, in the process of which a multicomponent aggregate institutional system should be formed. It is substantiated that the process of Ukraine’s integration into the global competition environment calls for orientation towards an innovation model of development. There proved the necessity for searching for the criteria of effectiveness of reforms in the area of mutual complementation of state institutions and market institutions through the thoughtful use of the existing institutional and value resources of society. Prospects for further research in this direction are the definition of strategic objectives of the state policy regarding the provision of the institutional status of the state in the context of global changes.
