INCREASING THE ECONOMY’S ADAPTABILITY TO RISKS IN ENERGY MARKETS AS A PRIORITY DIRECTION OF RESOURCE AND ENERGY POLICY
Abstract
The purpose of this study is to establish the features of building and implementing mechanisms to increase the economy’s adaptability to risks in energy markets as a priority direction of resource and energy policy. The relevance of the study is due, in particular, to the increased level of risk inherent in energy resource markets at the current stage of development of the world economy. Therefore, it is necessary to develop effective mechanisms for adapting the economy to risks in the markets of certain types of energy resources. At the same time, these mechanisms must be properly taken into account in the process of developing energy strategies and implementing resource and energy policy. To achieve the goal and solve the tasks of the study, the following general scientific and special methods were used in the work: theoretical generalization - when determining the essence of the adaptation process; modeling – when building a model of adaptation of the economy to risks in energy markets; grouping – when identifying groups of factors that influence the choice of energy strategies; abstraction – when establishing the main adaptation mechanisms, etc. In the process of the research, the essence and types of energy strategies were considered. The need to form a combination of these types was shown. The factors that influence the choice of energy strategies were grouped. The place occupied by risks in energy markets in the system of these factors was established. The mechanisms for adapting the economy to the occurrence of risk events in energy markets were grouped. In particular, strategic and reactive adaptation mechanisms were identified. Also, adaptation mechanisms regarding the occurrence of risk events in energy markets were divided into groups according to the need for investments in the implementation of these measures. A model of adaptation of the economy to risks in energy markets was built. The main types of support for the processes of development and implementation of the relevant adaptation mechanisms were established. The practical significance of the results obtained lies in the possibility of their application in the process of developing energy strategies.
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