Assessment of economic risks to secure development of Ukraine

Abstract

The article studies the issue of secure development of Ukraine, with a focus on risks and their assessment within the country’s economic security framework. The author argues that a comprehensive assessment of the country’s state of security cannot be performed without taking into consideration, measuring and continuously monitoring risks as an integral component of socio-economic development of countries in the modern conditions. The author develops a toolkit for quantitative measurement of risks, which determine the country’s vulnerability and decrease its resilience in a volatile security environment. The proposed risk assessment algorithm is applied in practice to examine the economic dimensions of risk and to provide a composite estimate of the level of economic risk. Research findings prove that the concept of secure development of countries should be based on the examination, systematization, assessment, and continuous monitoring of risks in order to ensure the country’s utmost adaptability to conditions caused by the emerging threats and risks.