The essence and purpose of state regulation in a market economy.

World economy represents an aggregate of national economies developed historically and connected by the international division of labour system (IDL) and varied economic, organizational, political and other relations.

World economy as a single whole developed in XX c. It had been prepared by the whole previous economy development, the formation of market relations and world market, the changeover to capitalist production, the reinforcement of a role of export the capital and international currency relations, the appearance of the colonial countries exploited by the large capitalist states. The territorial division of the world was completed, the economic division of the world took place between developed international monopolies, and the processes of the production internationalization went on.

The modern world economic system is characterized by a number of the important features. First of all, it internationalization of economic life connected to the international division of labour, deepening of specialization and cooperation of production, increase of its efficiency.

Two basic tendencies of internationalization of economic life appear. First, the integrity of a world economy amplifies as a result of expansion and deepening of a division of labour between the countries, liberalization of trade and other foreign economic relations, development of modern means of the information and communications. In this process TNC plays the major role. Their essence is in association national economies not by a geographical attribute (mutual borders), but on the basis of deep reproduction communications.

Secondly, there is a formation concerning the independent centers of a world economy during economic interaction of the countries at a regional level and formation of large integrated structures.

In the international specialization as a basis of the international economic relations the principles of absolute and comparative advantages are used. A. Smith in his work «Research about the nature and reasons of riches of the nations " has shown that the distinctions in nature and climatic conditions of the countries provide them with absolute advantages at production of the separate goods and services. Using absolute advantages in specialization of production, the countries exchange superfluous production and receive the bigger benefit in comparison with the production which is made by them.

However majority of the countries has no absolute advantages, but participates in international trade, which is gainful for all the countries. D. Ricardo proved this rule by opening the law of comparative advantage. Its essence is that for each country is more expedient to specialize on those goods, production of which will be more gainful at an existing correlation of distribution cost in comparison with the production of other goods. The principle of comparative advantages says, that joint volume of edition production will be biggest when each goods will be made by that country, in which the alternative distribution costs will be lower. The difference in costs on the same goods in the different countries is caused by distinctions in levels of development of productive forces, in methods of production, its scales. All these factors influence efficiency on specialization of the countries. The modern economic science considers the theory of comparative advantages as a basis of the international economic relations and of international specialization. For example, the surplus of a labour in the country does gainful production and export of goods demanding significant expenses of work, as the cheap labour reduces costs of production of the given goods. It is more gainful for the countries having surplus of the capital to specialize on manufacture of capital-intensive production and to import labour-consuming one.

The specialization is based on a principle of comparative advantages, promotes effective exploitation of economic resources of the country, growth of a level and quality of life of the population.