, PhD. Student, Pushkins'ka, 77, Kharkiv,

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Issues number

2017 - № 2 (29)



Type of articles

Scientific article

Code UDK


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Problem setting. The effectiveness of legal regulation depends on a number of factors but to a large extent on principles of law. The value of principles of law is that they are able to simultaneously determine the content of system of law and its structural elements, be a means to interpret the legal norms and be directly the regulator of legal relations. Bridging gaps in the law has been relevant to economical law. This is due to the rapid dynamics of development of economic relations and steady improvement of the management areas. Principles of law affect on the rulemaking process and the law enforcement process.
Recent research and publications analysis. Scientific-theoretical base of research are the works of such famous scientists: S. S. Alekseev, G. L. Znamenskiy, A. M. Kolodiy, V. K. Mamutov, S. P. Pohrebnyak, V. S. Shcherbina.
Paper objective. The article’s purpose is to clarify specificities of the branch of business law that should be reflected in the principles of business law and their system.
Paper main body. Economic law being a complex branch of law combines public and private law. Accordingly, such a dichotomy of law should identify the specific principles that combined conflicting interests.
The correct identification of the availability of private or public interest in real relationships is important. The principle of the optimal balance of private and public interests must be one of the principles of economic law. The subject of economic and legal regulation includes three completely different groups in legal nature that can not be mixed together. Sectoral principles of economic law can be divided into economic production, organizational-economic and internaleconomic relations. Economic law has a close relationship with economics and therefore the meaningful basis of principles should be based on the general principles of the market economy functioning.
The economic principle will become legal if its violation has negative consequences for society and the economic system. And in this case, there must be a kind of “convergence” of economic and legal principles.
Conclusions of the research. In the light of the special importance principles of law there is a need to consolidate it at the level of basic sectoral code.
Short Abstract for an article
Аbstract. The range of issues to be resolved in order to provide practical sense to the principles of economic law and to enhance the effectiveness all economic and legal mechanism is identified in this article. Author drew attention to specific and complex character of the branch of economic law, that shall be taken into account in the definition and classification of its principles. The author poses the question of the possibility of a harmonious combination of public and private interests through the principles of law. The special relationship of economic law with the economics and the need to build a meaningful basis for the principles of economic law on the general principles of the market economy functioning are underlined.


principles of law, principles of economic law, functions of principles of economic law.


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