THE NEW PARADIGM OF EUROPEAN FINANCIAL SCIENCE

Abstract

For finding out the main problems in the financial system of the EU countries, it was madea rapid analysis of its main indicators for nine years, where it was found that its state is unstable. There are identified the main problems of functioning of the EU financial system and it isrevealed the gaps in the explanation of modern economic phenomena by financial science. In order to understand the current financial processes in European countries, it has been developedan immanent-cognitive architecture of the modern economy, with the separation of relevant elements and relations. There are presented the views of foreign and domestic researchers on the use of existing theories of financial content, where it is proved the inconsistency of these theories with present realities. The way out of this situation, in particular to improve the functioning of the EU financial system, is to theoretically justify the vectors of European development with the development of the financial science paradigm. Taking into account the results of the performed analysis of the state of the EU financial system and the inability of current theoretical financial structures to explain the current processes that are formed in the financial system, it is proposed a new paradigm of financial science with the separation of conceptual and categorical apparatus. There are identified three main components of this paradigm. The first one is the method of cognition, which is used a system one, which allows to explore complex public open systems, which one is financial and to form theoretical constructions. The second component is the principles that should contribute to the most comprehensive consideration of all factors of influence and vectors of development of financial science. The third component identifies theoretical provisions, in particular: the formation of directions for the development of the financial system with the separation of its main components; development of a new model of financial system development, which would be aimed at innovative development of economic sectors, budget support of strategically important enterprises; development of theories of financial control over the movement of financial resources; substantiation of direct administrative and financial responsibility of officials of all levels for corruption manifestations

Keywords

• architecture
• paradigm
• principles
• financial science
• financial system