Year: 2024 | Month: | Volume 69 |
Analysis of the Determinants of Economic Security of the State
in the Context of Confronting Global Challenges
Vitalii Polovenko
Andrii Svatok
Mykhailo Prokopchuk
Sergii Golubytskyi
Nataliia Pylypchuk
DOI:10.46852/0424-2513.4.2024.28
Abstract:
In the context of Russian military aggression and general market instability, the issue of ensuring Ukraine’s economic security takes on paramount importance. Economic security synergises economic and political components, ensuring the effective functioning of the market environment, maintaining long-term competitiveness, and protecting national economic interests. The complex geopolitical situation, crises, and instability of economic processes highlight the importance of the state’s economic security. The research aims to identify the main determinants of ensuring economic security and the possibilities of optimising the situation in the face of global challenges. The research used general scientific methods, including analysis and synthesis, comparison, and structural-logical methods. The constituent elements of Ukraine’s economic security, factors affecting this process, and factors destabilising its provision were examined. The research demonstrated that in a globally integrated environment, security stability
depends on the level of implementation of digital innovations for risk management. A range of priority digitalisation solutions was outlined, including artificial intelligence and machine learning for forecasting and mitigating risks. Modern digital technologies that contribute to the automation of real-time risk management processes were studied. The experience of developed countries in managing economic security processes was examined. The main determinants of guaranteeing economic security and resource recovery in the context of wartime and post-war recovery were identified. It has been proven that a practical concept of ensuring economic security should provide a high level of control and risk forecasting, with the aim of preventive protection against crises. The results obtained in the study may have practical value in the formation of programmes for optimising economic security management based on transparency and crisis management principles.
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