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Economic Security in the Black Sea Region


  • Alina Draghici

    () (Academy of Economic Studies, Bucharest, Romania)


Berry Buzan and the Copenhagen School proposed three new dimensions of security in order to complete it’s the narrow political and military components. These are the economic, societal and environmental dimensions. The result is that economic factor came to be considered the building block of the other aspects of security. This idea is supported by NATO’s new strategic concept (defined in 1991) stating that security and stability have political, economic, societal and environmental elements; and also by the EU’s efforts of building the Common Foreign and Security Policy, were it applies economics, its strongest points, in the military security, one of its weakest points. Ensuring a country’s economic security considers the identification and management of dysfunctions, vulnerabilities, risks and threats to economic stability and strategic decisions independence concerning vital resources. The paper will attempt to analyze the implications of applying the concept of economic security in the Black Sea extend area and highlight the link between the development model and interdependencies in international cooperation.

Suggested Citation

  • Alina Draghici, 2007. "Economic Security in the Black Sea Region," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 10(25bis), pages 179-193, November.
  • Handle: RePEc:rej:journl:v:10:y:2007:i:25bis:p:179-193

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    References listed on IDEAS

    1. Baillie, Richard T. & Bollerslev, Tim, 1992. "Prediction in dynamic models with time-dependent conditional variances," Journal of Econometrics, Elsevier, vol. 52(1-2), pages 91-113.
    2. Bollerslev, Tim, 1986. "Generalized autoregressive conditional heteroskedasticity," Journal of Econometrics, Elsevier, vol. 31(3), pages 307-327, April.
    3. Bollerslev, Tim, 1987. "A Conditionally Heteroskedastic Time Series Model for Speculative Prices and Rates of Return," The Review of Economics and Statistics, MIT Press, vol. 69(3), pages 542-547, August.
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    More about this item


    economic security; cooperation; Black Sea; energy;

    JEL classification:

    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other


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