Development of the Regulatory Framework for Market Integration in the Context of Economic Globalisation

Abstract

The contemporary global economic system involves a dynamic interplay between globalization and national interests, with market integration and regulatory frameworks playing a crucial role. The significance of this topic stems from the fact that globalization and technological advancements create new prospects for economic growth. However, they also pose challenges that necessitate a comprehensive understanding and balance between market openness and the need to safeguard socio-economic interests. Integration promotes growth and development and facilitates economic prosperity at the international level. Regulatory frameworks provide stability and predictability, which are essential to support integration processes in the world economy. The frameworks' significance lies in their ability to adapt and respond to constantly changing conditions in the global market while safeguarding the interests of both large and small countries. The analysis highlights that effective market integration and flexible regulatory mechanisms can create synergy between national economies. The article concludes that a balance between innovation, market integration, and effective regulation is necessary for the development of a resilient, and innovative economy. The article suggests further research to develop mechanisms for adapting regulatory frameworks to changing conditions in the world market, with the aim of enhancing the effectiveness of economic and regulatory policies.