GLOBALIZATION PROCESS AND ECONOMIC SECURITY

Abstract

The article emphasizes that the world economy has become more integrated and unstable, and in connection with this, an increase in global interdependence leads to an increase in the vulnerability of economies, while a higher economic specialization caused by trade leads to instability. The approach of economists to the definition of “economic security”, which should cover the causal consequences of globalization. The approaches of scientists in support of globalization from the point of view of economic security are considered. They came to the conclusion that despite the process of globalization and the erosion of state institutions, thanks to the emergence of new international players, state institutions remain key providers of economic security. Purpose-study of the approaches of academic economists to the definition of economic security, which will cover the consequences of globalization. Methodology-the work used methods of logical and system analysis. Research Findings-significant changes in the international arena, increased globalization, increased economic interdependence, technological development and the revolution in information technology have led to an expansion of the concept of economic security.