Open AccessAssessment of the EU Countries’ Economic Security based on the Composite Indicators
Author(s) -
Olena Khadzhynova,
Žaneta Simanavičienė,
Aleksey Mints,
P.I. Burak,
Valentyna Khachatrian
Publication year - 2022
Publication title -
wseas transactions on business and economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.158
H-Index - 16
eISSN - 2224-2899
pISSN - 1109-9526
DOI - 10.37394/23207.2022.19.61
Subject(s) - economic security , composite indicator , economic indicator , european union , politics , social security , panel data , economic system , state (computer science) , economics , environmental economics , econometrics , political science , economic growth , macroeconomics , mathematics , international trade , market economy , algorithm , law
The authors propose an integral indicator of the economic security of a country, based on a study of economic, social, political and environmental indicators of security of 28 European Union countries. The study used panel regression methods, correlation analysis, nonlinear approximation, graphical methods. The research results make it possible to explain up to 58% of the variations in the studied indicators. The calculated values of the integral indicator of economic security correspond to empirical data. The indicator proposed by authors comprehensively characterizes the current state of the country’s economic security in the economic, social, political and environmental spheres. This indicator makes it possible to determine the level and disproportions of the country’s development and can become the basis for the formation of directions for ensuring its economic security.