The Role of Relevant Legal Science in Ensuring Financial and Economic Relations Adequate to Modern Challenges

Aim. The purpose of the article is the scientific clarification of the role of legal science in the complex regulation of economic and entrepreneurial relations in the modern Russian legal state. Methodology . Due to the fact that numerous practical issues are located in the segments of intersection of several scientific specialities, the authors of the article drew attention to the fact that a sufficient degree of correlation between the provisions of such scientific specialities as “Law” and “Economics” could serve as a guarantee of constructive development (for example, the phenomenon of budgetary federalism is located on the edge of these sciences). Results. The new level of economic development of our era determines the renewal of legal content; the article proposes to position legal science (both in its fundamental and applied role) as a “road map” of modern reality, in particular, assuming the conjugation of the provisions of scientific specialities “Law” and “Economics” in legal science. Research implications . The content of public economic relations belongs rather to the competence of economic science. The article, based on rich practical material, shows the importance of the legal aspect (formalisation of the relations under consideration). The practical significance of the article lies in the disclosure of the role of law in such areas as: compliance of initially objective economic relations (a particular type of them) with the basic principles of law and the rule of law; as well as in the high quality of legal technique.