N. V. Zachosova


Introduction. Every society needs a basic rules of economic life organization. Economic and financial systems would be in complete chaos if business was not subject to the actions of certain laws. But, in general, the more economic freedom the participants of economic relations have, the greater is the probability of their economic prosperity and economic development of the state. Thus, it can be assumed that the level of economic freedom has a significant impact on the development of the economy and the financial sector, which is its inalienable component of it, and its indicator can be used as a tool of information provision for making managerial decisions at the macro level in the direction of liberalization or strengthening control over the organization of economic relations, depending on the perspective vectors of economic development. In addition, we see the prospect of using the level of economic freedom as one of the indicators of the state of economic security of the country

Purpose. The purpose of the article is to establish the relationship between the level of economic freedom in the country and the state of economic security at the micro and macro levels at the theoretical and applied levels.

Methods. Formal-logical method is used to determine the basic concepts; monographic and comparative methods; method of theoretical generalization; ordering method, analysis.

Results. The definitions of economic security of the subject of economic activity and economic security of the state are offered. Their content demonstrates the necessity of economic freedom as a prerequisite for achievement of economic security at macro and micro levels. The role of economic freedom in the state in the process of «securing economic security» of various types of entrepreneurial structures, institutions and organizations is specified. A retrospective analysis of the values of the index of economic freedom in Ukraine and in the world in dynamics has been carried out, the lowest positions of the rating of our state have been revealed for the separate components of the index of economic freedom in order to form an information base for establishing the relationship between the level of economic freedom in the country and the state of economic security of the country and individual business objects. The directions of use of economic freedom indices as tools for assessing the state of the economic security system of economic entities, including financial institutions, are offered.

Originality. Author's definitions of economic security of the state and economic security of the business entities are offered. The dynamics of each component of the index of economic freedom is analyzed, tendencies of their changes for the past 16 years have been established. The following components of the index of economic freedom are revealed, the low values of which should attract the attention of the authorities to the problem of the need to improve their state. The connection between the indicators of economic freedom and the state of economic security of the country and the state of economic security of the business entities is explained. Proposals of the use of indicators of economic freedom as tools for evaluating the level of functional components of economic security of business entities are presented (on example of financial institutions).

Conclusion.According to the results of the analysis of the values of the indices of freedom, it was found that for the business entities that are integrated into investment processes, there is a high level of threats to normal activity, taking into account the indicator of investment freedom. The value of the index of financial freedom indicates that the level of financial threats and risks is high. The indicator of monetary freedom shows a high level of macroeconomic security, which has a positive impact on the state of economic security of the participants of the economic system of the country. The value of the index of freedom of labor relations signals about the threats that are associated with personnel, staffing of business entities. Domestic business entities, considering the importance of the index of public expenditures, in the issue of securing their own economic security, have to rely only on themselves and their own resources.

Indices of freedom from corruption and property rights protection should be used to assess the power of legislative influence on the state of economic security. Indices of fiscal (tax) freedom and level of public expenditure - to establish the degree of state intervention in economic processes, including, the process of providing economic security for business entities. Indices of freedom of business, freedom of labor relations, monetary freedom make it possible to evaluate the effectiveness of economic processes regulation, including the state of economic security. And the indices of freedom of trade, investment freedom and financial freedom make it possible to diagnose the level of openness of markets for goods and services that domestic enterprises, institutions and organizations conduct.


Economic freedom, economic security, index of economic freedom, level of economic freedom, state of economic security


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