METHODOLOGICAL APPROACHES TO ASSESSING THE EFFICIENCY OF MARKET ECONOMY REGULATION

Abstract

The article examines methodological approaches to assessing the effectiveness of market economy regulation in the context of modern transformations, globalization processes, increased instability and increased socio-economic risks. It is substantiated that state regulation is an integral element of the functioning of a market economy, and its effectiveness determines the ability of the economic system to ensure macroeconomic stability, social balance and sustainable development. The paper summarizes theoretical approaches to interpreting the category of "efficiency" as the ratio of achieved results and resource costs, as well as the degree of achievement of certain socio-economic goals while minimizing the negative consequences of state intervention. It is determined that the effectiveness of market economy regulation should be considered as the degree of achievement of certain socio-economic goals under the condition of optimal use of resources and minimizing the negative consequences of state intervention. Based on the analysis of scientific works of domestic and foreign scientists, key methodological approaches to assessing the effectiveness of market economy regulation are systematized: institutional, systemic, indicator and risk-oriented. It is proven that the institutional approach allows to assess the quality of the regulatory environment and the effectiveness of the “rules of the game” in the economy; systemic – to take into account the interrelationships between the subsystems of the market economy and the long-term consequences of regulatory decisions; indicator – to provide quantitative measurement of the effectiveness of state policy using a system of macroeconomic, social and institutional indicators; risk-oriented – to assess the ability of the state to minimize economic and social risks and prevent crisis phenomena. The feasibility of using a comprehensive methodological approach that integrates the above approaches into a single analytical model and provides a comprehensive, objective and in-depth assessment of the effectiveness of market economy regulation is substantiated. It is concluded that the use of an integrated methodology improves the quality of management decisions and contributes to the adaptation of state economic policy to modern development challenges.