Mudrak N. De-offshorization as a direction for the institutional evolution of the modern world economy

A wide range of approaches to the interpretation of the essence and analysis of the international capital movement in the context of the functioning of offshore entrepreneurship have been identified. On the basis of creative-critical analysis of scientific concepts, author's periodization of the development of international offshore business and classification of offshore, offshore and offshore jurisdictions, typologization of offshore zones and offshore companies, methods for assessing the macroeconomic consequences of developing offshore jurisdictions for the economies of OECD countries are proposed. An analysis of current theories and practices of using preferential regimes for conducting economic activities shows that numerous differences in terminology and legal acts, heterogeneity of economic entities impede a unified approach to the definition of offshore jurisdictions. The tendency to complication of corporate schemes of control over assets, ownership structure and implementation of separate operations of groups of related companies, introduction of new methods of using subsidiary offshore companies is revealed.From the conceptual point of view, in today's context, the theory of the "second best" result comes to replace the neoclassical theory of international capital movement liberalization, the essence of which is that the state can compensate for the "distortion" at the expense of an optimally chosen financial policy, it can offset the "distortions" arising from the imperfection of the market mechanism and bring the economy closer to the optimal.