LAW AND ECONOMICS IN CONDITIONS OF GLOBALIZATION (BASIC TENDENCIES OF DEVELOPMENT)

The paper discloses the connection of economics and law and shows the ways the law affects economic processes in conditions of globalization. It emphasizes the perspectives of economic jurisdiction development and suggests methods of further improvement. In nowadays, the plurality of subjects which form the law on non-governmental level formed due to complexity of the economic, cultural and other social networks, increasing trend of social freedom. As a result, a complex system of legal regulation of public relations at the national, international and supranational levels is forming. The law has an impact on the economy, particularly as a factor in streamlining economic relations and economic processes; as an instrument of economic policy implementation, both by the state and by businesses. The law enshrines economic relations, emerging in the state, and guarantees their activities; law stimulates the formation of new economic relations; law supports and protects economic relations. It should also be emphasized, that law and economics, as social phenomena, are in constant interrelation, interaction and interdependence one from another. Thus, we can conclude that the law is one of the most important factor in creation of a basis for the formation of a modern market economy in Ukraine