Energy sector impact on country’s economic security: Baltic sea region EU countries’ case

Abstract

The article object is to is a relatively new research direction in economic theory - economic security at the macro-level. One of the aims of this article is to reveal the country’s economic security idea and to choose methods for this economic phenomenon evaluation as well as to suggest the method to evaluate the energy sector's impact on this economic phenomenon. Firstly, the authors review different approaches to economic security principles and do some assumptions related to the country's economic security concept. There is shortly described the energy sector. Since the scientific problem is how to evaluate the energy sector and the country's security and what impact the energy sector has on the country's economic security, the authors have selected methods to analyze the links between energy sector activities and economic security. Furthermore, there were presented the results of regression analyzes and concluded what energy sector indicators influence countries' economic security.