Solving Economic Security Issues in the Coordinate System of Modern Risks and Threats

Abstract

In today's globalized world, the challenge of the state economic security ensuring is particularly relevant as a priority for the national interests protection from various threats. The analyses of the experience of the European Union and other countries revealed that national economic security ensuring plays a crucial role In securing for the state its geostrategic significance and potential. The article provides a critical analysis of modern threats and risks to economic security from the geostrategic perspective. The paper develops the methodology of the economic security index calculating based on a unified comparison of parameters of economic and social development of all countries, which allowed to move away from signaling approaches and eliminated subjectivity in assessments and following policy recommendations. In contrast to existing methods, the authors’ approach uses geopolitical factors. This tactic allowed taking into account the directions of change in the world and identifying external threats and risks to state economic security. The analysis and comparison of the index of economic security of European countries based on the offered concept are carried out. The countries are clustered based on the economic security index.

Keywords

• clustering
• index
• europe
• economic security
• globalization