Methodical Aspects of Assessment of the Level of Economic Security on the Forest Sector of the Economy

Abstract

Purpose: The main objective of this study is to develop a methodology for monitoring threats to the economic security of the forestry sector. Design/Methodology/Approach: Based on the principle of consistency, the authors proposed a proper algorithm for assessing the level of economic security of forestry which includes a list of parameters and evaluation criteria. The researchers also described the stages of its implementation and interpreted the results. Findings: The researchers considered the objective and subjective factors that have a negative impact on the forestry sector itself and on the effectiveness of the use of forest resources. The authors argue that there are two groups of threats to the economic security: threats to the forestry sector itself and threats related to the use of forest resources. Practical Implications: The study has practical significance as its results may be used both in forestry to assess the level of economic security of the industry, and in other industries. Originality/Value: The authors contributed to the development of methods for monitoring the threats to economic security in the forestry sector. These methods are aimed at identifying the main risks to the development of the forestry sector that belong to two different groups. The researchers developed the criteria for assessing possible risks and threats to the economic security of the forestry sector.