Transformation of the Role of the State in International Economic Relations at the Present Stage

   The subject of the study is the transformation of the role of the state in current international economic relations in the context of the impact on entrepreneurial activity.

   The study purpose is to identify the main areas and vectors for changing the role of the state in the foreign economic sphere affected by conditions and factors of the medium–term period.

   The authors explore this issue through the prism of geopolitical, competitive, epidemic causes that cause transformational impulses of government regulation and affect the business environment. Substantiating the conclusions about the strengthening of the role of the state in the foreign economic sphere, they identify as the main vectors: increasing the degree of foreign policy lobbying of economic interests, intensifying support for major international and regional projects as a guarantor, supporting corporations with public ownership in their foreign economic activities by strengthening
the innovation component, deepening participation in international and regional organizations, raising the profile of the investment conditions in the country to attract foreign partners, strengthening influence on the external sphere through the reform of industrial and agrarian policy, providing support to economic agents through the redistribution of economic resources, efforts to ensure international recognition of domestic products, influence on employment through the regulation of international migration, redistribution of functions between the government and business within international megaprojects. They also note the double-edged nature of such radical measures of government regulation as sanctions and counter-sanctions. The article reveals a multidirectional change in the role of the state in developed and developing countries in shaping the international environment for responding to the extreme external condition of the functioning of the global economy, i. e. the COVID-19 pandemic. The study concludes that a new wave of national pragmatism is being formed in the regulatory activities of the nations of the globe in the foreign economic sphere, becoming evident in the strengthening of protectionist trends, while simultaneously searching for mutually beneficial forms of international economic cooperation.

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