Constitutional regulation of economic relations: institutional analysis

The modern theory of constitutionalism considers the constitutional system as a basic element of the state system, which determines the fundamental principles of the organization of social and state life. In this system, the economic system appears as an integral component that establishes the basic principles of economic functioning and the nature of economic relations in the state. The study of the theoretical and legal aspects of the interaction of the constitutional and economic system in the context of modern global economic transformations is of particular relevance. The study reveals a systematic analysis of the economic component of the constitutional system through the prism of its theoretical and legal understanding. The historical development of conceptual approaches to the interpretation of the constitutional system, its relationship with the categories of social and state systems is considered. The place of the economic system in the structure of the social system is determined along with other key components – political, social and cultural. Based on a comprehensive analysis, it was established that the economic system is a historically formed complex of principles and normatively established rules that regulate economic relations in the process of production, distribution, exchange and consumption. The constitutional and legal mechanisms for regulating economic relations and their impact on the development of the economic system were studied. A complex interdependence between the constitutional system and the economic order was revealed, where constitutional norms outline the legal framework of economic activity, and economic processes influence the implementation of constitutional principles. In the context of globalization and economic integration, the search for the optimal balance between state regulation and economic freedom, between the protection of national interests and international economic cooperation, is of particular importance. In the context of European integration, the need to adapt national legislation to European standards in the field of constitutional and legal regulation of economic relations is emphasized.