IMPLICATIONS OF THE EU MULTI-LEVEL GOVERNANCE IN THE FIELD OF COMPETITION POLICY - A COMPARATIVE ANALYSIS OF THE CHARACTERISTICS OF COHESION AND COMPETITION POLICIES

The paper aims at analyzing the intrinsic characteristics of the European Union and to show that these characteristics objectively require the implementation of multi-level governance. A comparative analysis of the European Union's cohesion and competition policies is presented from the point of view of these elements. Further on, given the implications of the economic crisis, the paper explores the possible translation from multi-level governance to polycentric governance and its implications for the cohesion and competition policies.