ECONOMIC GOVERNANCE IN THE EU: THEORY AND PRACTICE

The article deals with the main economic theories applicable to the system of economic regulation in the regional economic integration associations. It has been proven that in the absence of universal and complex theory of economic governance in the context of integration associations, the EU has used particular provisions of various existing concepts. It has been revealed, that in its practice of supranational regulation of economic activity monetarist ideas are widely applied. Meanwhile economic governance on the state level is based on Keynesian methods. Principles of the theory of fiscal federalism are reflected in the allocation of functions between supranational institutions and member-states in the EU