The Scientific and Conceptual Provisions for Determining the Essence and Features of the Functioning of the Mechanism for the State-Based Regulation of the Economy

The development of economic systems in the today’s world in many cases is determined by the efficiency of processes, mechanisms for regulating their functioning. Regulation is an important component of the process of development of economic systems, activation of the functioning of their individual components in order to gradually move to a new, higher level of their own development. The State-based regulation of the economy is by its nature a complex and dynamic system. This system is already an integral constituent part of the functioning of the State authorities and local self-government bodies and is used by them to implement economic policy and regulate processes of economic management. Accordingly, the issues of studying the theoretical and applied provisions of such regulation are always relevant and constantly require further research. The article deepens the theoretical provisions regarding the essence of the category of «mechanism for the State-based regulation». This is carried out taking into account the results of the analysis of the essence of the categories of «mechanism for the State-based regulation» and «the State-based regulation of the economy». It is defined that the essence of such regulation should be considered as a process of influence of public authorities on economic processes or economic entities in order to ensure the stable development of individual industries, sectors of the national economy. As a result of the carried out content analysis of scientific approaches to the consideration of the definition of «mechanism for the State-based regulation of the economy», the substantive features of such a mechanism have been allocated. Its essence is proposed to be considered as a complex of interrelated components, which altogether allow to exert the influence of public authorities on economic processes and economic entities in order to ensure the stable development of individual industries, sectors of the national economy. The article defines that it is possible to ensure the efficiency of such a mechanism only by ensuring effective interaction between all its components, taking into account the basic principles of its functioning and development. Such components are specified accordingly. Also the main aim, goals, methods, instruments, and levers of this mechanism are determined.