Assessing the Level of Financial and Economic Security of Ukraine’s Regions: Methodology and Practice

Theoretical and methodological approaches to determining and assessing the level of financial and economic security at the regional level are studied. The aim of the article is to improve the methodology for assessing financial and economic security at the regional level based on the study of existing theoretical and methodological approaches, as well as to assess the level of financial and economic security of regions of Ukraine. Theoretical approaches to defining the category of financial and economic security and methodological approaches to its assessment are reviewed and summarized. It is proved that the financial and economic security of a region is a complex integral concept that combines the concepts of both financial and economic security. Given the simplicity and accessibility of the information base and transparency of calculations, the author established the appropriateness and sufficiency of a set of indicators for financial economic security. The assessment of the level of financial and economic security of regions of Ukraine is carried out. The necessity of developing a mechanism to ensure the financial and economic security of a region is substantiated. It is proved that in its development it is advisable to observe objectively existing principles of integrity, consistency, variability, coordination, and specialization. Based on the results of the study, conclusions are drawn on the need to formulate, develop and create an effective system for ensuring financial and economic security at the regional level in order to promote competitiveness of the regions and their investment attractiveness. The detailed development of the mechanism for ensuring the financial and economic security of a region as well as the planning and organization of its financial security should be the subject of further scientific research.