The Impact of EU Macro-financial Stability on the Member States’ Economic Security

Volodymyr Korneev, Alina Khodzhaian, Oleksandr Dziubliuk, Natalia Kozmuk and Nataliia Shehynska

European Review, 2025, vol. 33, issue 2, 175-199

Abstract: Macro-financial stability plays a crucial role amidst global crises and can significantly impact the economic security of European Union members. It is crucial to have sufficient resources to address macroeconomic challenges since economic vulnerability can worsen risks, threats and instability, ultimately resulting in greater inequality. The article aims to investigate the influence of EU macro-financial stability on the economic security among EU member states with different development levels. Indicators that serve as the foundation for assessing the Macroeconomic Imbalance Procedure (MIP) have been chosen for studying the economic security of advanced, emerging, and developing economies within the EU. Studies utilizing correlation and regression analysis have revealed an interconnection between the EU’s macro-financial stability and its member countries’ economic indicators. This correlation is found to be significant regardless of the country’s level of development. The findings highlight the vulnerability of national economies to macro-financial shocks within the EU and the potential adverse effects on the economic security of member countries. Insights into the impact of macro-financial stability on economic security help identify destructive trends and risks arising from macro-financial destabilization, proving beneficial to EU members and countries aspiring to EU membership. The novelty lies in establishing the link between financial stability and economic security of EU member countries at the macroeconomic level, regardless of their development level, and elucidating potential consequences of macro-financial destabilization on economic indicators.

Date: 2025
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