LEGAL GLOBALISATION AND ECONOMIC SYSTEMS

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Published: Nov 17, 2023

  Sergii Vasyliev

  Philip Epryntsev

  Tetiana Rekunenko

Abstract

The objective content of globalisation is made up of processes that are heterogeneous in their origins, mechanisms and consequences, which makes it possible to consider globalisation as a complex system of phenomena and relations that is internally quite contradictory. This status of globalisation processes gives rise to a wide variety of concepts and theories of the origin and development of globalisation, among which a separate group studies globalisation in the field of economics and law. The article examines the main theories and concepts of the globalisation process and, on the basis of these, formulates general trends and guidelines for the development of the national legal and economic system. The author presents the main modern scientific positions on the nature and content of globalisation in the field of economics and law, which have made it possible to highlight its characteristics and conceptuality. It should be noted that the analysis of academic theories shows, firstly, that scholars tend to argue for legal globalisation exclusively through the sphere of economic relations and, secondly, that there are significant differences of opinion regarding the prospects of globalisation in this area. The authors suggest that the main trends are: (a) legal globalisation: internationalisation of national law, internalisation of international law – incorporation of international law into national law, globalisation of legal regulation; (b) economic globalisation: concentration and centralisation of capital, strengthening of the international division of labour, formation of international transport and logistics infrastructure, development of information and technological progress. The subject of the study is the main patterns of globalisation in the field of economics and law: theoretical concepts and models; current status, dynamics, main trends of development, as well as the state of scientific research in this field. The methodological basis of the study is, first of all, modern philosophical methods of cognition (dialectical, historical and logical, systemic and analytical). The study used general scientific methods of comparison, analysis and synthesis, abstraction and generalisation, analogy, induction and deduction. For the purposes of this study, system-structural and system-functional methods of cognition were widely used. These tools made it possible, first of all, to identify the dynamic characteristics of law in the system of socio-cultural values. Results. Globalisation is an objective process independent of the will and desires of individuals and states. Globalisation is an intrinsically contradictory phenomenon that opens up new opportunities for development and interaction between states, while exacerbating old and generating new problems. An intensive direction of globalisation is the acquisition of a new quality by world economic ties – increased interdependence and interaction of all spheres and components of international relations. Whereas at the previous stages of internationalisation of international relations, economic imperatives were recognised as dominant, today the importance of the legal factor is growing. It is stated that when studying the phenomenon of globalisation, at least two aspects are distinguished: (1) globalisation is an objective process, (2) it is promising to identify and use its positive aspects, and to identify and neutralise its negative phenomena. The complexity of the study of globalisation processes lies in the need to take into account the old and develop new models of social transformation.

How to Cite

Vasyliev, S., Epryntsev, P., & Rekunenko, T. (2023). LEGAL GLOBALISATION AND ECONOMIC SYSTEMS. Baltic Journal of Economic Studies, 9(4), 50-57. https://doi.org/10.30525/2256-0742/2023-9-4-50-57
Article views: 375 | PDF Downloads: 173

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Keywords

legal globalisation, economic globalisation, economic systems, internationalisation, concept of scepticism, hyperglobalisation, transformativism

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