International Systems for Assessing the Economic Security of a State: Some Integrated Approaches
Vashai Y. V., Zhemba A. Y.

Vashai, Yulia V., and Zhemba, Alla Yo. (2020) “International Systems for Assessing the Economic Security of a State: Some Integrated Approaches.” The Problems of Economy 3:4–10.
https://doi.org/10.32983/2222-0712-2020-3-4-10

Section: World economy and international relations

UDC 338.22.01

Abstract:
The article is dedicated to analyzing the international approaches to assessing the state of economic security at the state level and countries’ place in the world economic ratings. The urgency of the topic lies in the fact that the methods of world rating agencies, which rank countries in certain economic spheres based on a set of economic indices, are becoming more and more widely used in macroeconomic analysis. This affects their investment attractiveness and requires scientific analysis to carry out economic security management. The article aims at studying the complex global methods of assessing economic security in order to see, whether it is possible to apply them for macroeconomic analysis in Ukraine. The article systematizes the approaches to the economic security analysis in terms of their main schools and fundamental provisions. Peculiarities of measuring global economic indices have been determined, their advantages and disadvantages have been analyzed. The authors have come to conclusion that narrow assessment of the state economic security, by a single aggregate index only, does not provide valuable macroeconomic analysis. International practice shows that using indices, which are based solely on financial analytical data, is only appropriate for assessing a country’s creditworthiness and financial stability, but is insufficient for internal management. If we consider economic security as a part of national security, then the connection between economic and national security becomes one of a hierarchical nature. However, nowadays, when the social and political ties become more and more complicated, economic and national security can be considered as identical concepts, given that economic context is present in almost all areas of national security.

Keywords: economic security, economic security indicator, global economic indices, international model of national security, international organizations, macroeconomic analysis.

Tabl.: 4. Bibl.: 20.

Vashai Yulia V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Enterprise Economics and International Business, National University of Water Management and Natural Resources Use (11 Soborna Str., Rivne, 33028, Ukraine)
Email: y.v.vashai@nuwm.edu.ua
Zhemba Alla Yo. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Enterprise Economics and International Business, National University of Water Management and Natural Resources Use (11 Soborna Str., Rivne, 33028, Ukraine)
Email: a.i.zhemba@nuwm.edu.ua

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