Issue: № 10/2, 2020
Introduction. Formation of the market relations during the years of Ukraine's independence has significantly affected the economic condition of the state. There have been radical changes in property relations, forms and methods of the state regulation, development priorities at both the state and regional levels. In general, this has led to instability in the internal and external economic environment and the emergence of new problems related to the further economic development of the country. The list of such problems includes ensuring of the economic security of the state and a particular region.
The purpose of the paper is timely detection and neutralization of internal and external threats and dangers that affect the level of the economic security of the region will ensure its stable and most effective functioning at a certain time and high potential for development in future.
Results. The use of the proposed algorithm for formation of the state of the economic security of Cherkasy region will not only identify and neutralize threats and risks but also ensure sustainable development of the region.
Conclusion. Based on the conducted research, we have developed a mechanism for managing the economic security of the region, which has five stages and allows you to take into account all the requirements for solving the problem of the economic security of Cherkasy region. The main condition for ensuring sustainable development of the region and achieving positive results of financial and economic activity is the formation of an effective mechanism of economic security, which should be aimed at protecting the enterprise from internal and external threats and dangers. It is advisable to form an effective mechanism for ensuring the economic security of the region, which would fulfill a certain set of tasks. Therefore, the definition of the effectiveness of solving issues of economic security formation is proposed to be implemented on a comprehensive basis. It should be done by the evaluation of the effectiveness of the use of certain elements of the mechanism and functional components of economic security, the comprehensive assessment of the company compliance with the state of economic security and the assessment of the company effectiveness from the standpoint of sustainable development.
Keywords : economic security of the region, threats, risks, security, sustainable development
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