Etymology of Fiscal Regulation of Foreign Trade Activity in the Context of Social Development

Abstract

The scientific article is devoted to the study of fiscal regulation as a separate aspect of social development. The article deals with scientific approaches to understanding the essence of fiscal regulation of the economy in general and foreign trade in particular. The disadvantages of classical and neoclassical models of international trade and open economy are highlighted. It is stated, that observance of the freedom principle of foreign trade is common to all classical and neoclassical theories. It is ascertained that: firstly, in the classical and modern economic literature there is no definition of "fiscal regulation of foreign trade activity"; secondly, the modern model of international trade contains a number of disadvantages, which express themselves in obtaining a greater share of the foreign trade benefits by highly developed countries; thirdly, foreign trade policy in transition economy countries requires an active regulatory role of the state, which should include certain elements of trade protectionism