EXTERNAL DEBT SITUATION UNDER GLOBALIZATION: CURRENT STATE AND MAIN TRENDS
Journal Title: Вісник Київського національного університету імені Тараса Шевченка. Економіка. - Year 2014, Vol 1, Issue 154
Abstract
The paper considers current state and structure of external debt in countries with different levels of income per capita after the first wave of the global financial crisis. According to World Bank methodology analysis of debt situation under globalization in such countries should be provided by sector, main creditors, currency structure, maturity, borrowing instruments and availability of guaranteed debt. Key factors of external debt growth, including factors related to unsolved problems of international finance and the rapid spread of the next cyclical decline in the international economy are outlined. The debt situation in Ukraine under globalization after the first wave of the global financial crisis was specified. Determined that major endogenous factors for debt accumulation in Ukraine include: expansionary fiscal policy with deficits budgets, the lack of internal sources of financing and inefficient use of borrowed funds, week debt management system and the historical background, high level of corruption and absence of structural reforms. Indicated that the debt situation in our country is worsened by low liquidity buffers, unstable sources of debt refinancing and significant contingent liabilities.
Authors and Affiliations
Yulia Subbotovych, Kateryna Furmanets
Keywords
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- EP ID EP403024
- DOI 10.17721/1728-2667.2014/154-1/16
- Views 71
- Downloads 0
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