Advocacy of Competition in the Mechanism of State Regulation of the Economy

Olga Bakalinska, Olena Belianevych and Olena Honcharenko

International Journal of Financial Research, 2020, vol. 11, issue 1, 425-433

Abstract: The multifaceted competitive policy promotes awareness of the importance of competition by society, ensures maximum transparency of state regulation, reduces the level of corruption and increases public confidence within activities of the competition authorities, helps developing self-regulation of economic entities. At the same time the mechanism of state regulation and self-regulation has its own instruments for improving the efficiency of advocating competition. Research of their peculiarities, instruments, role and interaction are important directions of modern scientific investigations and the purpose of this article. In this article a comparative method to study is used for common and distinctive features of advocating of competition in different countries and Ukraine. The results show that it is extremely important to create a system for advocating of competition in order to inform society, protect the attained level of competition in entrepreneurial activity, prevent or suspend, and then stop the abuses of monopoly position, the anti-competitive concerted actions of business entities, the anti-competitive actions of state authorities and unfair competition. The experience of economically developed countries convincingly suggests that such practices have a positive effect on the functioning of the competitive environment in which the interaction of economic agents takes place. The results show that there was a gap in implementation of economic policy in Ukraine and there is a gap between legally established norms on the implementation of competition policy and the practice of their application. To a large extent, this is due to the lack of well-developed strategy for economic development in Ukraine and, accordingly, the strategy for the development of competition policy.

Keywords: advocacy; economic competition; competition policy; state regulation; self-regulation; the competition authorities (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:11:y:2020:i:1:p:425-433

DOI: 10.5430/ijfr.v11n1p425

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