Abstract

Introduction. The article deals with the problem of institutionalism of economic federalism relations. The institutional approach to studying economic federalism makes it possible to study economic federalism as a complex structured institution based on describing the interaction of the existing institutions of federalism, its structures and mechanisms. The purpose of the article is to consider economic federalism from the standpoint of the institutional approach. Methods. In the article, the author uses general scientific methods of analysis and synthesis, deduction and induction in the context of applying the institutional approach when studying the economic federalism relations. Scientific novelty. In the article, for the first time, the author highlights the elements of institutional regulation of the economic federalism system; has introduced the criterion for dividing the economic federalism institutions into formalized and non-formalized ones. Results. The author justifies the possibility of using the institutional approach when studying economic federalism, formulates the concept of “institution of federalism”, discloses the content of the institutional regulation of federal relations, presents for the first time the institutional design of the economic federalism system in terms of identifying subject areas and functions of economic federalism institutions, the spheres of institutionalization of economic federalism and economic consequences of institutional regulation. The author introduces the criterion of universality, which makes it possible to divide the institutions of economic federalism into formalized and non-formalized ones. Conclusions. The system of economic federalism presupposes the presence of institutions as stable norms, rules, procedures, organizational mechanisms governing the interaction of federalism participants, which gives the relations of economic federalism an institutional setting. Institutions of federalism both restrict and stimulate the dayto-day action of its participants. For the effective functioning of the economic federalism system, it is necessary to search for the optimal ratio of formalized (universal) and non-formalized (electoral) federalism institutions.