Designing Mechanisms for Ensuring the Economic Security of Regions: Countering the Challenges of Instability

Abstract

AbstractThe research aims at identifying the current problems of Russian regions during the pandemic, as well as designing a mechanism for ensuring their economic security in terms of situational approach. The scientific novelty of the study is the implementation of a situational approach to managing the economic security of regions, as well as the development of a mechanism for ensuring the economic security of Russian regions during the instability caused by the pandemic. The authors propose a logical scheme for designing a mechanism for ensuring the economic security of regions in terms of situational approach, identified its stages (analysis of instability factors and their influence on the socio-economic situation in the region; assessment of the economic security of the region and the identification of problem areas; situational selection of tools to solve the problem; application of a specific tool for improving the economic security of the territory; monitoring of situational factors; implementation of stabilizing measures aimed at consolidating the result obtained. The authors propose a system of primary indicators for assessing the economic security of the real sector, monetary, financial and social spheres of the region and also identified its problem areas. In accordance with the identified problem areas of economic security, the authors carried out a situational selection of tools for solving problems by regional authorities.KeywordsRegionPandemicEconomic securityInstabilitySituational approachRussiaJEL ClassificationR11R13R58