THE INSTITUTIONAL ENVIRONMENT DEVELOPMENT OF INTERNATIONAL ECONOMIC SECURITY IN MODERN CONDITIONS

Abstract

The article is devoted to the modern components definition of the international institutional environment of international economic security and the ways of its development. Deepening globalization has increased the need for international coordination and the creation of a global institutional framework. The institutional mechanism for ensuring economic security is formed by institutions and instruments for ensuring economic security: instruments of universal (legislative base) and local controls (orders, agreements, etc.) that have a direct or indirect impact. The institutions development in society should ensure a decrease in the level of environmental uncertainty, since economic institutions help reduce the information asymmetry on the basis of which economic decisions are made, overall coordination is ensured, etc. Important indicators of infrastructure development are indices, ratings, and monitoring, used by the world community to assess the performance of institutions in countries, government, competitiveness, etc. It is determined that institutions ensure the development of the economic system as a whole, they should include not only institutions at the national level, but also supranational, since it is the actions of the latter that enhance the ability of the national system to counteract negative external factors and risks. Institutions may differ both in formal terms (public authorities and local governments), and in informal ones (civil society institutions). It is proved that the modern phenomenon of security as a multistructure system is determined by its integrative nature, characterized by a hierarchical structure and a combination of corresponding components – vertical (security components that are due to the existing hierarchy) and horizontal (functional links between components are determined by the internal-functional structure), external and internal components, and corresponding integrated communications are established between them. Accordingly, each level of international economic security is characterized by proper institutional support.