Self-regulation: advantages and ways of development in Ukraine

Shcherbak Anatolii
PhD (Economics), Senior researcher, State Organization «Institute of Market and Economic & Ecological Research of the National Academy of Sciences of Ukraine», Odesa, Ukraine, E-mail:av.shcherbak@gmail.com, ORCID ID: https://orcid.org/0000-0002-7607-5266

Cite this article:

Shcherbak A. (2024) Self-regulation: advantages and ways of development in Ukraine. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Samorehuliuvannia: perevahy ta shliakhy rozvytku v Ukraini; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 3-4 (316-317), pp. 15-21.

Abstract

The article contains the results of research devoted to the problems of improving state influence on the economy through the use of industry and professional self-regulation. It analyzed the essence of self-regulation, the functions of self-regulatory organizations. The advantages and disadvantages of self-regulation compared to state regulation, ways to overcome the disadvantages were clarified. The essence of co-regulation and the conditions of its use were considered. The practical experience of self-regulation in a number of the most important areas and state measures aimed at stimulating its development have been studied. Considerable attention was paid to self-regulation in the financial sector, particularly in the field of microcredit. The system of self-regulation of advertising in Great Britain was analyzed, and the reasons for its effectiveness were clarified. The activities of international organizations in this area have been studied. The system of alternative resolution of consumer disputes in the EU was analyzed and its effectiveness was evaluated. It is shown that self-regulation and co-regulation play an important role in the development of standards in industry. The issues of professional self-regulation and changes in the activity of professional self-regulatory organizations in recent years have been studied. The state of self-regulation in Ukraine was analyzed and the problems hindering its implementation were identified. It was shown that the recovery of the domestic economy after the war will accelerate if there is a harmonious combination of state regulation and self-regulation. Based on the analysis of world experience and the situation in Ukraine, the ways of developing self-regulation in domestic markets were substantiated. It was found out that its development is significantly hindered by legislative unsettlement. The draft Law of Ukraine "On industry and professional selfregulation" was analyzed and suggestions for its improvement were formulated.

Keywords

self-regulation, state regulation, co-regulation, self-regulatory organizations.

JEL classification: L510; DOI: https://doi.org/10.32680/2409-9260-2024-3-4-316-317-15-21

UD classification: 330.36-022.233(477)(045)

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