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Identification of the specificity of functionality of the military-industrial complex

The subject of this research is the economic relations formed as a result of operation and development of military-industrial complex, which affect economic growth of the country. The object of this research is the military-industrial complex. The goal consists in determination of peculiarities of functionality of military-industrial complex. The author explores such aspects of the topic, as the evolution of approaches towards studying the military-industrial complex, as well as nuances of its functionality. Special attention is paid to the structure of military-industrial complex, highlighting its key components and determining interaction between them. The author’s main contribution lies in the proposed interpretation of the military-industrial complex, formulated as a result of critical analysis of relevant scientific representations on its essence, and reflecting the specifics of its functionality. The novelty consists in the analysis and systematization of scientific approaches to definition of military-industrial complex; its structural perception in form of modified scheme of O. Williamson with indication of major stakeholders and relations between them, which is based on the concept of “iron triangle”; identification of basic transformation trends of the military-industrial complex, as well as characteristics that differentiate it from other economic macro-sectors.