Economic understanding of the property right within state administration of foreign economic activity

Abstract

Purpose. The article is devoted to researching the theoretical economic grounds and understanding of the property right in different directions and conditions in order to use the obtained results for further research, in particular, within the area of the state regulation of foreign economic activity. Methods. The main scientific methods are widely used in the research. Among them the methods of analysis and synthesis, logical search, abstraction and concretization, analogies, modeling are mostly used. Results. The primary essence, key attributes, typical peculiarities and constituent elements of the property right are researched. Herewith, the corresponding concepts of the property itself and the property relations are analyzed and studied in details. By that means, the basis and reasons for emergence of the property rights are followed by and shown both in theory and in real practical situations. Use of the classical Honoré’s theory of ownership in modern economic life is examined and exemplified. Particular attention is paid to applying the above-mentioned concepts connected with the property right theory into the area of interaction between the state and the subjects of the foreign economic activity. Accordingly, some specific features of the concept of property right and concept of property relations are demonstrated in terms of the state administration of foreign economic activity. Conclusions. The modern understanding of the concept of property and the concept of property rights is based on a significant theoretically reasoned foundation, that contains numerous results of research conducted. The most important aspects regarding the economic perception and use of the concept of property rights should relate to: characteristics inherent in the property right; opportunities that provide the property right; and a set of specific elements of the property right. When using the concept of full property right, it is advisible to take into account the limits and degrees of access to specific property objects and property rights to them. In area of the state regulation of foreign economic activity it’s not necessary to use the detailed bunch of the property right elements but paying attention mostly to the standard set, i.e. controlling the rights of possession, use and disposal.