Mechanisms of strengthening the economic sovereignty of the state in the context of military operations

Mecanismos de fortalecimiento de la soberanía económica del Estado en el contexto de operaciones militares

• Yevhen Bilousov Yaroslav Mudryi National Law University, Kharkiv, Ukraine. https://orcid.org/0000-0003-3998-9947
• Ivan Yakoviyk Yaroslav Mudryi National Law University, 61024, Kharkiv, Ukraine, Ukraine. https://orcid.org/0000-0002-8070-1645
• Kateryna Yefremova Innovative Development of NALS of Ukraine, Kharkiv, Ukraine. https://orcid.org/0000-0002-1917-9691
• Eugene Novikov Innovative Development of NALS of Ukraine, 61002, Kharkiv, Ukraine. https://orcid.org/0000-0002-6085-8258
• Ihor Zhukov Yaroslav Mudryi National Law University, 61024, Kharkiv, Ukraine. https://orcid.org/0000-0003-1374-196X

DOI: https://doi.org/10.46398/cuestpol.4178.28

Keywords: economic sovereignty, economic security, globalization transformations, national interests

Abstract

The objective of the study was to determine the methodological aspects of the construction of mechanisms for strengthening economic sovereignty in the context of the processes of globalization and war. Comparative law and economic statistics were used in the study. The research found that economic security, which showed a significant decrease after a large-scale invasion, is the material expression of economic sovereignty. The Debt/GDP ratio reached 85% and gross external debt was 83% of GDP. Mechanisms for strengthening Ukraine’s economic sovereignty and economic security were determined by analysing international experience. They included, in particular: improvement of the legal framework, development of emergency response mechanisms, development of international partnerships,  strengthening of economic governance, balancing regional development. Reactive and proactive approaches to the development of response measures should be taken into account when introducing such mechanisms. The results of the study are of value to government representatives in terms of ensuring the economic security and economic sovereignty of the country. Further research can focus on identifying the main methods for forecasting threats to the economic sovereignty of the country.

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