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THEORETICAL ASPECTS FOR ECONOMIC SECURITY AND
INFLUENCING FACTORS
Nematjanov Bekhzod Bakhtiyor ugli
Researcher At Tashkent State University of Economics Tashkent, Uzbekistan
https://doi.org/10.5281/zenodo.13853996
Abstract:
This thesis delves into the multifaceted concept of economic
security, examining its definitions, dimensions, and implications for individuals
and nations. By analyzing various economic policies, social safety nets, and
global economic trends, the research aims to highlight the ultimate factors that
contribute to a secure economic environment. The findings suggest that
comprehensive strategies, including income stability, access to resources, and
resilience against economic shocks, are essential for fostering long-term
economic security.
Key words:
economic security, national security, state, sustainable
development, economic growth.
The issue of economic security is highly significant for the Republic of
Uzbekistan, which is increasingly integrating into the global economy.
Furthermore, the country’s location in a politically unstable region enhances the
relevance of this direction for our nation.
Economic security forms the fundamental basis of a state's overall
economic efficiency. Broadly defined, "an economically effective state is one that
defends its national interests and ensures national economic security at a given
time and under specific circumstances amidst unrestricted international
competition" [2].
There has been extensive research in economic literature on the
improvement of economic security. However, there is insufficient coverage of
the role of the real sector in enhancing economic security through the influence
of various factors. This indicates not only the high relevance of the research
topic but also the practical significance of the real sector's role in ensuring
economic security in Uzbekistan under current conditions.
The concepts, significance, types, and mechanisms of national and
international economic security have been studied by foreign economists such
as H. Brundtland, D. Gabor, P. Krugman, K. Sen, E. Laszlo, and J. Forrester. Among
Russian scholars, significant contributions have been made by L.I. Abalkin, S.Y.
Glazyev, A.E. Gorodetsky, V.S. Zagashvili, I.D. Ivanov, A.I. Illarionov, A. Gamza, S.I.
Zelgin, A.V. Krysin, A.G. Shavaev, and V.I. Yarochenko.
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Uzbek researchers, including N. Djumaev, K. Abulkosimov, D. Davronov, A.
Vakhidov, A. Abduvohidov, R. Makhmudov, I. Mavlyanov, and U. Hasanov, have
also conducted studies and researches on economic security issues.
G.G. Odunova notes, “security is of significant interest for regional
economies. The national security system is a multi-level structure where the
region acts as both a subject and a space for implementing security policies.
Currently, globalization is a major factor affecting regions, creating threats to
their socio-economic development. In response to these threats, regions strive
to expand their powers to ensure long-term security” [3].
Research by Abduvohidov A. and others highlights that economic security
“represents a state of the economy where stable economic growth is ensured,
social needs are optimally met, rational management is implemented, and
economic interests are protected at both national and international levels” [4].
E. Ilichin has conducted research on the fundamentals of forming an
economic security system, the role and place of ensuring economic security in
banking activities within the economic security system, and has evaluated the
current state of economic security in the banking sector by identifying threats
and risks [5].
Given these considerations, the concept of "economic security" can be
understood as a set of conditions and factors that ensure the stability of the
national economy and its ability to continuously renew and improve itself.
Ensuring economic security is of particular importance in countries
undergoing transitions to a market economy. These changes inevitably affect
adaptation mechanisms, interests, and the economic activities of business
entities. This demonstrates that economic security is interrelated with its goals,
strategy, and implementation priorities.
Economic security refers to the stability and resilience of an individual's or
a nation's economic well-being. It encompasses various factors that ensure
access to basic needs, financial resources, and opportunities for growth. Here
are some key factors influencing economic security:
1. Employment Opportunities
Job Availability: A strong job market with diverse opportunities enhances
economic security.
Job Quality: Stability, benefits, and wages associated with jobs contribute
significantly to economic well-being.
2. Income Stability
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Wages: Competitive wages and equitable pay are critical for sustaining
economic security.
Income Diversification: Multiple income streams can provide a safety net
during economic downturns.
3. Social Safety Nets
Welfare Programs: Government assistance programs, such as
unemployment benefits, food assistance, and healthcare, help mitigate financial
crises.
Retirement Benefits: Access to pensions and retirement savings plans
supports long-term economic stability.
4. Education and Skill Development
Access to Education: Quality education and vocational training increase
employability and adaptability in changing job markets.
Lifelong Learning: Continuous skill development helps individuals stay
relevant in evolving industries.
5. Healthcare Access
Affordable Healthcare: Access to healthcare services reduces financial
burdens related to medical expenses and promotes a healthier workforce.
6. Financial Literacy
Understanding Financial Management: Knowledge of budgeting, saving, and
investing can empower individuals to make informed financial decisions.
7. Economic Policies
Fiscal and Monetary Policies: Government policies that promote economic
growth, control inflation, and stabilize markets directly influence economic
security.
Regulation: Effective regulation can protect consumers and promote fair
competition, enhancing economic stability.
8. Social Cohesion
Community Support Systems: Strong community networks can provide
support during economic hardships.
Social Inclusion: Reducing inequality and promoting equal opportunities
can enhance overall economic security.
9. Political Stability
Governance: Stable political environments tend to attract investment and
foster economic growth, contributing to overall security.
10. Global Economic Factors
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Trade Policies: International trade agreements can create new economic
opportunities or pose risks.
Global Economic Trends: Economic fluctuations, such as recessions or
booms in other countries, can impact domestic economic security.
Economic security is multifaceted, relying on a combination of individual, social,
and governmental factors. Strengthening these elements can help build a more
resilient economic environment for individuals and communities alike
References:
1.
Decree of the President of the Republic of Uzbekistan No. UP-5992, dated
May 12, 2020, "On the Strategy for Reforming the Banking System of the
Republic
of
Uzbekistan
for
2020-2025"
//
URL:
https://lex.uz/ru/docs/48110372.
2.
Zhilkina, Yu.V. "Ensuring Economic Security of the State" // National
Interests: Priorities and Security. - 2010. - No. 8. - pp. 50-57.
3.
Godunova, G. "Economic Security in the System of National Security" //
Moscow Economic Journal. 2019, No. 1. pp. 72-81.
4.
Abduvoxidov, A., et al. "Economic Security: A Study Guide for University
Students" - Tashkent: Noshirlik Yodusi, 2020.
5.
Illichin, E.V. "Economic Security in the Banking Sector: Abstract of
Dissertation" // Academy of Economic Security, Ministry of Internal Affairs of
Russia, 2004.
