Financial Component of Russia's Economic Safety Mechanism

DOI

10.2991/icemw-18.2018.15How to use a DOI?

Keywords

economic safety; financial policy; financial component; budget deficit; national debt; export of goods and services; federal budget expenditures; economic profile

Abstract

In the most general sense, the safety of the state should be understood as the state’s protection against negative impacts of a combination of social, economic, environmental and legal as well as internal and external coercive factors. At the same time, in terms of terminology, the economic safety of the state represents the ability of the state government to protect its own competitive potential against internal and external destabilizing factors in the international arena. Some scientists point out that the threat to the economic safety may be manifested as a decrease in the state’s competitive status level, and suggest to consider it as a universal category that reflects the protection of the state from negative external and internal impacts, and also prompts the management system to respond quickly and eliminate various threats, which negatively affect the economic stability of the state. Economic safety is a creating element of the economic stability shaping & maintenance management structure, which is called upon to execute a number of functions, in particular, prediction, financial risk assessment, identification of threats, preservation of competitive advantages, and others. At the same time, it is regarded as a certain state of the state resources (capital, personnel, information, technique, technology, etc.) and entrepreneurial opportunities, whose existence guarantees the most effective use thereof in order to ensure stable functioning and dynamic scientific, technical and social development of the state as well as to prevent/respond to internal and external negative impacts (threats). To evaluate the economic safety level, various methods and tools are available, some of them are very sophisticated for the use and require considerable time to process data for analysis, whilst the others relate to local methods, allowing only a fragmentary assessment of individual components of the state’s economic safety. The search for new approaches to the identification and assessment of the financial component level of the economic safety has predefined the relevancy of this study; the results of the study can be implemented in practice both in the Russian economy and in the economy of any other country.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Liudmila Goncharenko
AU  - Sergey Sybachin
AU  - Elena Sharko
AU  - Mikhail Khachaturyan
AU  - Angelica Gendon
PY  - 2018/08
DA  - 2018/08
TI  - Financial Component of Russia's Economic Safety Mechanism
BT  - Proceedings of the International conference "Economy in the modern world" (ICEMW 2018)
PB  - Atlantis Press
SP  - 76
EP  - 80
SN  - 2352-5428
UR  - https://doi.org/10.2991/icemw-18.2018.15
DO  - 10.2991/icemw-18.2018.15
ID  - Goncharenko2018/08
ER  -