Home  Journals  National Interests: Priorities and Security  9(354) - 2017 September

Scientific approaches to defining the concept of financial security

Vol. 13, Iss. 9, SEPTEMBER 2017

Article PDF Version

Received: 25 May 2017

Received in revised form: 27 June 2017

Accepted: 15 August 2017

Available online: 2 October 2017

Subject Heading: ECONOMIC SECURITY

JEL Classification: E61, F52, G00, H56

Pages: 1712–1730

https://doi.org/10.24891/ni.13.9.1712

Importance The article focuses on theoretical, methodological and practical scientific approaches to defining the concept of financial security.
Objectives The research analyzes, groups and systematizes approaches to defining the concept of financial security.
Methods The research involves general scientific methods of cognition, such as analysis and synthesis, induction and deduction, methods of grouping, analogy, comparison and expert assessment, comprehensive and systems approaches.
Results I studied proceedings of experts specializing in financial security, analyzes, generalized and systematized approaches to defining this concept. As a result of the research, I grouped the prevailing approaches to defining the financial security in line with five areas.
Conclusions and Relevance The article overviews various aspects of the financial security, which are conditionally grouped into five approaches that mutually correlate and interact. Having analyzed proceedings of the Russian economists, I conclude the financial security is a complex and multilateral concept, which should rely upon comprehensive and systems approaches. Scholars pay much attention to financial security issues and make up the substantial body of theoretical and methodological knowledge for studying respective issues. Financial security indices can be used to evaluate not only the financial system of the nation, but also the condition of other components of the national security. I conclude the country should find its economic and political vision, ensuring the reliability of its financial system and its resilience to the existing threats to the financial security.

Keywords: financial security, economic security, national security, financial system, security threats

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