Methodological Bases for Ranking the European Union Countries in Terms of Macroeconomic Security
Journal Title: Проблеми економіки - Year 2015, Vol 2015, Issue 4
Abstract
The fundamental contradictions of existing methodical approaches to assessing the level of the state economic security have been substantiated and proposals on the introduction of a unified methodology for its assessment, which would be acceptable for use at the international level or for a specific cluster of countries, have been developed. Based on the conducted researches it has been found that the there are no unified signs for such classification of countries. To determine the most significant coefficients and critical values of the indicators of economic security, it is appropriate that the countries should be grouped in terms of the level of the economic development proposed by the UN Commission and the IMF. Analysis of the economic security level has been conducted for the countries-members of the European Union as a separate cluster of countries on the example of macroeconomic security indicators. Based on the evaluation it has been found that the proposed list of indicators and their critical values is economically sound and built on the principle of adequacy, representativeness and comprehensiveness. In 2004 the most secure countries of the EU corresponding to the macroeconomic security standards were Austria, Denmark, Sweden, Finland, and as in 2014 the percentage of absolutely secure countries decreased from 14.3 to 7.1%, only Denmark and Sweden remained in the ranking. During the analyzed period Bulgaria and Croatia got into the risk zone, Estonia, Lithuania, Latvia, Romania were in a danger zone. In 2014 Ukraine in terms of its macroeconomic security was in a critical state, which testified about serious structural and system imbalances in its development.
Authors and Affiliations
Olena Tymoshenko
Keywords
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