Economic security strategy of Ukraine in the context of global transformations

The effectiveness of maintaining the economic security of the state in the context of globalization ensuring national economic interests, and the impact of the global pandemic. Directions for countering challenges and threats to national security.

Рубрика Экономика и экономическая теория
Вид статья
Язык английский
Дата добавления 20.02.2022
Размер файла 283,7 K

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Despite the annual place improvement in Ukraine on the Global Innovation Index [45] since 2016, the situation in the field of investment and innovative security is also a matter of concern. The decrease in foreign direct investment, the fall in the share of gross fixed capital accumulation in GDP, the decrease in public spending on research and development and other indicators of innovative development indicate the impossibility of sustain- nable economic growth in the deficits face and inefficient use of investment and technological backwardness.

These structural imbalances and negative dynamics of indicators in the financial, industrial, foreign economic and investment-innovative spheres, which have been formed over the past ten years, constrain the economic development of the country (both quantitative and qualitative), which also affected the state of macroeconomic security. Accordingly, its level can also be considered dangerous, since Ukraine lacks stable economic growth, destabilized labor market, poverty among the population is growing (according to the UN methodology, it is established that more than 60 % of the population is poor, and according to the IMF report Ukraine is considered the poorest country in Europe as a gross product per capita, and in the lowest wage rating [46]). A significant external risk in further destabilization of the macro-environment can be considered a slowdown in the development of the world economy in the context of the COVID-19 pandemic and the associated decrease in world prices for the main commodity groups of domestic exports [27], but the main threat to macroeconomic security is the internal crisis situation in both the economy and social sphere, in particular, a decrease in national economic activity, inflationary and exchange rate fluctuations; low incomes of the population; intensification of labor migration processes; imbalances between labor supply and demand in the labor market.

Thus, the results of the analysis and identification of threats to Ukrainian economic security show that now it is internal threats that have a decisive impact on the state of the ES. However, as scientists note [47], the presence of internal threats to the national economic security determines the growth of external threats; for example, the ineffectiveness of state regulation in the context of globalization generates the emergence and implementation of external threats to the state's ES. In the context of new challenges and threats, there is a need to improve and implement effective measures to counter the negative impact of the main threats of the national ES. In this regard, the issue of improving the national regulation system in the field of economic security is being updated.

As a result of threat analysis in key areas of the ES, countermeasures have been proposed, in particular:

the establishment of new economic development goals - modernization of the economy and stability of economic growth;

• the effective financial regulation accommodating changes in external and internal development factors;

• the creation of conditions for the priority direction of banks' credit funds for the development of the economy real sector, small and mediumsized businesses;

• the elimination of imbalances in economic development in order to ensure the sustainability of economic growth;

• the reduction of corruption phenomena in the country by introducing effective measures in the context of the existing anti-corruption policy and the presence of a significant number of anti-corruption bodies;

• the increase of tax discipline, accounting for budgetary security when amending tax legislation;

• improvement of the population level and quality of life;

• the reinforcement of national efficiency and regional governments, optimizing the system of state regulation in order to overcome the threats of ES;

• the scientific growth stimulation of technical, industrial, educational and technological potential of the country.

These measures do not cover all aspects and areas of economic security. They are rather priority, as solving this problem is a long-term process. However, with the increasing influence of globalization on the national EB, their implementation is urgently needed and requires decisive action by the state.

Conclusion

The study of theoretical concepts made it possible to form conceptual foundations of economic security, the main provisions of which are, on the one hand, economic development of ensuring investment, industrial, scientific, technical foreign economic, financial and energy security of the state, maintaining appropriate living standards, on the other hand - monitoring, anticipation, prevention and counteraction both internal (critical job losses, scale of national production, structural and technological backwardness of the economy, criminalization of the economy, crisis of the banking and financial system, instability of the national currency, reduction of reserves of the national bank) and external threats (economic pressure, blockades or other hostile economic actions, industrial, energy dependence, investment for political purposes, destabilization of the state system.

Global transformations determine the logic of a new development stage of the world economy, a new quality of relations between countries and their economies, consisting in a sharp expansion and complexity of interrelations and interdependencies of different states. Increasingly, the most important globalization contradiction that this process expands relative freedom for states and their economic entities and compresses it, bringing economic entities actions not so much to economic benefits as to compliance with certain rules. In this regard, the modern understanding of ES is transformed into the ability of the state to build the relationship of its country as a subsystem of the global economy with the system itself in such a way as to ensure the fullest possible satisfaction of the economic entities needs.

The effectiveness of the national economic security in the context of globalization is determined by: the ability of the national economy to ensure the national economic sovereignty and a leading position in the global world, as well as to adapt to changing external conditions; the ability to have a system of assessments that not only reliably determines the level of the EC of the national economy, but it is an indicator that determine the directions in which its further improvement should be ensured, and the ability the ability of state institutions to deal with emerging global economic threats through effectively improved governance.

The impact of the global COVID-19 pandemic spreading has deepened the country's internal threats to economic security, among which the deterioration of public finances, the accumulation of government agencies debt, the growth of defaults and the worsening of infrastructure.

Trends in the Ukrainian economy development of over the past ten years give grounds to assert that Ukraine has almost no basis for ensuring national economic interests, the implementation of which is associated with the sustainable development of the national economy, equal mutually beneficial economic cooperation with other states, and Ukrainian integration into the European economic space.

As a result of the analysis of the main economic security indicators by its components (financial, production, foreign economic, investment, innovation and macroeconomic) had been established that most of them were approaching the critical level, and some were even exaggerated. Especially it was noted a deterioration of economic security indicators in 2019-2020. As a result, it has been established that internal threats have a decisive influence on the state's economic security.

Modern conditions for the national security development in the context of globalization, caused by new challenges and threats, require the improvement of state regulation system in the field of economic security, in connection with which the main directions of counteracting challenges and threats to national security are outlined.

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