Theoretical research of the concept of financial regulation

Purpose: analyzing the terminology and systematizing the scientific views on financial regulation concept definition; Methodology: method of theoretical analysis, methods of abstraction and concretization, method of deduction, method of comparison, method of classification, method of generalization, method of structuring, method of analogies; Results: based on terminology analysis and systematization of scientific views it was established that one can hardly identify a single position referring to a specific definition of «financial regulation» term: its interpretations are different depending on the subject, object and essence of financial regulation as well as on its role in the system of state regulation of economy; Practical implications: further research of the problems of financial policy and financial regulation in market economy; education process including preparation of the relevant sections of textbooks and manuals for the course «Theory of Finance»; Conclusions: the analysis of the essence of the concepts «regulation» and «financial regulation» identified that the regulatory process is characterized by a variety of conditions for the functioning of the economy, using different categories and their elements, therefore the investigation of financial regulation system is needed. Domestic scientists examine the problems of financial regulation at the level of state regulation of the national economy as a whole, as well as at the level of its various spheres; In Western economic science, financial regulation is considered exclusively in the sphere of banking and financial markets. For the most complete understanding of the essence of financial regulation, it is important to consider such categories as regulatory subjects, regulation objects and levels of their functioning. While examining financial regulation in various spheres of the national economy, the concept should be concretized taking into account the specific application of these categories regarding to certain spheres. The analysis of theoretical basics of financial regulation has shown that it can be characterized as a system and as a process simultaneously, therefore its studying requires a comprehensive application of the system approach and process approach.