Economic security of modern Russia: the current state and prospects

Abstract

In the conditions of instability of the world economy and the introduction of sanctions against Russia by a number of countries, the problem of ensuring national economic security has become particularly relevant. This topic also has a high scientific, practical and social significance, as it allows to identify possible gaps in the economic security of modern Russia and timely develop mechanisms to eliminate them to protect the national interests of the state. The purpose of this article is to determine the state and prospects of improving the economic security of modern Russia. This can be achieved by solving the following tasks: review of existing methods to evaluate the economic security of country, conduct a SWOT analysis of economic security of modern Russia, the development of suggestions for its improvement. This research analyzes various aspects of the economic security of modern Russia. As a result, the author developed an integrated method to ensuring the economic security of the country, as well as a matrix of economic security within this method. The way of increase of economic security of modern Russia is offered. Thus, to overcome the threats for the economic security of modern Russia, it is necessary to implement the recommendations developed by the authors, including the establishment of their own production and the construction of an innovatively oriented model of the economy. This will ensure the economic security of modern Russia and its stable development in the future.

Spatio-Temporal Differences in Economic Security of the Prefecture-Level Cities in Qinghai–Tibet Plateau Region of China: Based on a Triple-Dimension Analytical Framework of Economic Geography

“…First, the factors concerning economic security are diverse and not unique and are not confined to the economic dimension. They involve not only economic growth capacity but also regional political and socio-economic contexts [ 23 , 29 ], innovative development capacity [ 28 ], natural and resource potential [ 30 ], ecological environment quality, population and social development capacity [ 2 ], and other aspects. There are also significant differences in the indicator selection and the composition of the RES index due to different assessment objectives.…”

“…Secondly, the factors that affect economic security come from both inside and outside a region. The internal factors are represented by indicators including GDP growth rate [ 23 , 29 ], inflation rate [ 29 , 30 ], family saving and asset accumulation [ 32 ], employment or unemployment rate [ 2 , 30 , 31 ], industrial structure [ 29 , 33 ], government procurement of public services [ 22 ], investment in fixed assets [ 23 ], residents’ income [ 2 , 30 ], etc. The external factors mainly reflect the dependence of a country/region on the global economy or its competitiveness in the global economic system, which involves foreign investment and import and export trade, and some specific indicators, including the proportion of FDI (Foreign Direct Investment) in GDP [ 31 , 33 ], import index [ 23 , 31 ], export index [ 29 , 33 ], cross-border investment [ 24 ], foreign trade [ 30 ], foreign debts and liabilities [ 23 ], as well as comprehensive indicators reflecting the level of globalization, such as globalization index, global competitiveness (e.g., the effective integration of countries in the global value chain and their competitive advantages in key economic fields [ 2 ]), and global cooperation (e.g., the framework of regional economic cooperation and integration dealing with traditional and non-traditional issues [ 24 ]).…”

Assessment of the EU and Ukraine Economic Security and Its Influence on Their Sustainable Economic Development

“…The work of Karanina and Kartavyh 2018 [9] deals with the state and problems of the Russian economic security. The authors consider economic security as "the likelihood of negative risk events and threats and the country's ability to resist them in order to ensure stable sustainable development of the national economy".…”

Security of the Eurasian Economic Union Member States: Socioeconomic and Financial Aspects

“…l Using the "independence" term. Proponents of this approach interpret economic security as the state of social production that would allow to achieve economic sovereignty and ensure the ability of the national economy to constantly develop, update, and improve (Ronis, 2011;Ostapiuk, et al, 2017;Novoselova, et al, 2016;Ilyin, 2016;Karanina, & Kartavyh, 2018;Gorodetsky, 2016).…”