Effectiveness of constitutional review of economic reforms: Practices of different countries and ways of improvement

Abstract

Relevance. The subject of the study on constitutional review of economic reforms is relevant, as it concerns the principal aspects of legal regulation of the economy and requires the search for modern approaches to harmonise constitutional principles with economic changes in the context of constant challenges of the global economic environment. Purpose. The purpose of this study was to analyse the practices of constitutional review of economic reforms in different countries to identify successful practices and develop proposals for their improvement. Methodology. The study employed analytical, functional methods, method of system analysis, deduction, synthesis, and method of comparison. Results. The study analysed the role of constitutional review in the context of economic reforms, examining its impact on protecting the fundamental rights and freedoms of citizens, ensuring the constitutionality of legislation, controlling the actions of the executive, and combating arbitrariness and corruption. The study compared different approaches to the organisation of constitutional review, identifying their effectiveness in addressing economic challenges. Cases of successful and unsuccessful cases of constitutional review in different countries were examined, identifying factors affecting its effectiveness. The study highlighted the significance of ensuring the independence of constitutional bodies, the introduction of technology to streamline procedures, and active engagement with international practices and international research projects. Conclusions. The study concluded by suggesting ways to improve constitutional review through the introduction of procedural improvements, educational programmes, international practices, and the strengthening of constitutional review institutions to better follow constitutional principles in a changing economic environment. The practical significance of this study lies in the fact that the proposed ways of improving the constitutional review of economic reforms can serve as a basis for the development of effective mechanisms that promote more flexible and adaptive regulation of economic policy.