Year: 2024 | Month: | Volume 69 |
Market Integration and Regulatory Frameworks: Interaction in
the Global Economic Space
Lidiia Karpenko
Volodymyr Morozov
Nataliia Bordun-Komar
Olesia Romanenko
Inna Shevchenko
DOI:10.46852/0424-2513.4.2024.29
Abstract:
The contemporary global economic system involves a dynamic interplay between globalization and national interests, with market integration and regulatory frameworks playing a crucial role. The significance of this topic stems from the fact that globalization and technological advancements create new prospects for economic growth. However, they also pose challenges that necessitate a comprehensive understanding and balance between market openness and the need to safeguard socio-economic interests. The study’s analysis highlights the crucial role of market integration in the structure of the modern global economy. Integration promotes growth and development and facilitates economic prosperity at the international level. Regulatory frameworks provide stability and predictability, which are essential to support integration processes in the world economy. The frameworks’ significance lies in their ability to adapt and respond to constantly changing conditions in the global market while safeguarding the interests
of both large and small countries. The analysis highlights that effective market integration and flexible regulatory mechanisms can create synergy between national economies, enhancing global economic cooperation and promoting sustainable development. The article concludes that a balance between innovation, market integration, and effective regulation is necessary for the development of a robust, resilient, and innovative economy in the face of contemporary global challenges. The article suggests further research to develop mechanisms for adapting regulatory frameworks to changing conditions in the world market, with the aim of enhancing the effectiveness of economic and regulatory policies.
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