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The aim of the article. The purpose of article is the analysis history of free economic zones development and features of their activity. The results of the analysis. Through free economic zones in regions and countries get foreign investments, technologies, experience of management. The free economic zone is the tool for achievement of definite economic and public aims. Free economic zones perform a number of the microeconomic and macroeconomic goals. Ultimate goal of free economic zones is regional integration of economy. Distribution of free economic zones led to expansion and deepening of communications between separate national free economic zones and world economy. On the contrary, integration of world economy also has considerable impact on development of classical free economic zones. The fourth industrial revolution promoted further development of free economic zones on a global scale, including scientific and technical and innovative border free economic zones. The border free economic zones are beyond the state borders and represent temporary, transitional type of free economic zone from classical free economic zone to regional integration of the economy which cover border territories of different countries. The border economic zone means that two states or two provinces choose the special border territory within which mechanisms of organization and coordination within administrative structure of high level are acting and where self-government institutions and the enterprises bear responsibility for implementation of economic cooperation and growth. The zone is based on market economy, and within a zone is carried out a favorable mode of economic policy. Border economic zones have various names, such as, for example, an economic zone of the small region, border zones of economic cooperation, a triangle of growth and a border zone of development without borders. In interests of implementation of definite purposes, in certain regions free economic zones are created. They provide the stable, favorable environment for investment, possess well developed infrastructure and have a preferential mode of activity. Well functioning free economic zone is managed by responsible authority, which is efficient and flexible. Its tasks include planning, administration, coordinating and development of economic and public work within a zone in close cooperation with the authorities of this country. The industrial structure of free economic zone consists of the factors of key importance defining development of free economic zone. Its development is carried out both for all free economic zones as a whole, and for each separate free economic zone. Considering free economic zones from geographical position, it is possible to say that they are less limited: they can settle down in ports, coastal regions, in one country or in border territories where there are favorable communication data. Conclusions and directions of further researches. After passing the mentioned typological transformation purpose of free economic zones from the category of microeconomics to the macroeconomic category, and at the same time free economic zone began to receive more and more privileges and assistance. Summing up, it is possible to say that development of free economic zones can be divided into five periods of growth and six stages of development. Growth periods in each country differ on duration, depending on as analyzed country is developed. [ABSTRACT FROM AUTHOR]