Mechanisms of Self-Regulation in the Formation of a Favorable Institutional Environment for the Development of Goods Markets

Topicality. World experience shows that industry and professional self-regulation can be an effective alternative to state regulation, an important tool of harmonizing the interests of entrepreneurs, consumers, and the state in many areas. Self-regulation in Ukraine has received some development and has a positive effect on the economy, but there are a number of problems that hinder its implementation. At the same time, the active use of self-regulation will increase the efficiency of public administration and accelerate the recovery of Ukraine's economy after the war.Aim and tasks. The purpose of the article is to find out the advantages and disadvantages of self-regulation based on the analysis of world experience and to determine the areas in which it can be an effective alternative to state regulation. The tasks of the research: to analyze the necessity and essence of self-regulation and co-regulation, to consider the practical experience of self-regulation in developed countries, to prepare proposals for improving its development in Ukraine.Materials and methods. Normative legal acts of Ukraine and the European Union were used in the article. Official documents of the OECD, works of foreign and domestic scientists became the information base of the research. The system-structural approach, comparative analysis, and synthesis were used in the research process.Research results. The essence of self-regulation, functions of self-regulatory organizations are analyzed. It is shown that self-regulation has a number of advantages over state regulation, as it is more flexible, contributes to the reduction of state costs and the regulatory burden on business, and the application of forms of regulation that better take into account the specifics of specific markets. It is substantiated that the shortcomings of self-regulation can be completely or partially overcome due to effective state control over self-regulatory organizations, ensuring the transparency of their activities. It has been proven that in many markets the most effective is co-regulation, i.e. joint participation in the regulation of the state and market participants. The practical experience of self-regulation in a number of spheres was studied. The state of self-regulation in Ukraine is analyzed, positive consequences and existing shortcomings are determined.Conclusion. The recovery of Ukraine's economy after the war will accelerate if there is a harmonious combination of state regulation and self-regulation. It is necessary to create a systematic and integral legal framework through the adoption of the Law of Ukraine "On Industry and Professional Self-Regulation" and other normative acts. Using world experience, it is expedient to work out and offer domestic business entities acceptable models and practices of self-regulation and co-regulation.