Integration of Market and Planning Tools in Economic Policy

Abstract:

Modern economics and its management methods are changing. This leads to a transformation of economic policy models. Empirical experience shows that the liberal approaches used in economic policy for a long time lose their effectiveness. This leads to a revival of interest in the planning and administrative management tools. The aim of the study is to analyze the possibilities of integrating planned (state-administrative) and market instruments for regulating the economy. Consideration of these opportunities is made at the level of the national economy. To give concrete reasoning, examples of the implementation of an integrative approach to economic policy from Russian practice are considered. The article shows the inefficiency of abandoning the planned regulation of the economy observed in Russia at the turn of the 20th-21st centuries. As a result of the study, it was proved that the planned and market approaches in the regulation of economic activity should be combined, forming the institutional environment of a mixed economy.