Comparative analysis of internal and external national debt of Ukraine taking into account the impact factors
- Author(s)
-
DOIhttp://dx.doi.org/10.21511/pmf.06(1).2017.05
-
Article InfoVolume 6 2017, Issue #1, pp. 46-56
- 1302 Views
-
365 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
In this paper, scientific and methodological approaches as for interpreting the notion “national debt of the country” as a whole are systematized, the essence of “internal national debt” and “external national debt” in particular is clarified. Critical analysis of the state and dynamics of the national debt of Ukraine during 2006-2015 was performed. Dynamics of the extent of internal and external national debt of the country was studied and their comparative analysis was performed. Detailed structure of both internal part of the debt and its external part is presented. With the help of correlation analysis, strength of correlation and directions of influence of different types of debts on the national budget of Ukraine in 2006-2015 was determined.
- Keywords
-
JEL Classification (Paper profile tab)H63
-
References35
-
Tables6
-
Figures8
-
- Fig. 1. The essense of national debt and its main components
- Fig. 2. Main factors of influence on external and internal national debts
- Fig. 3. The structure of national guaranteed debt (internal and external debt) as of end of 2006 and 2015
- Fig. 4. Dynamics of national debt of Ukraine and its components during 2006-2015, mln US dol
- Fig. 5. The dynamics of changes of structure of internal debt over 2006-2015, mln hrn
- Fig. 6. The dynamics of change of external debt structure during 2006-2015, mln hrn
- Fig. 7. The structure of external national debt of Ukraine in 2015
- Fig. 8. The dynamics of change of national debt volume to GDP ratio in 2006-2015, %
-
- Table 1. Scientific and methodical approaches to interpretation of the notion “internal national debt”
- Table 2. Scientific and methodical approaches to interpretation of the notion “external national debt”
- Table 3. Comparative characteristics of approaches to understanding of external and internal national debt from the viewpoint of its main features
- Table 4. The dynamics of national payments for redemption, expenditures and service of IND and END, mln hrn
- Table 5. The factors of correlation analysis of internal national debt dynamics for the 2006-2015 period
- Table 6. The factors of correlation analysis of external national debt dynamics for the 2006-2015 period
-
- Artus, M. M., Khyzha, N. M. (2005). Budzhetna systema Ukrainy: navch. posib., Kyiv: Vyd-vo Evrop. un-tu, 220 s.
- Borynets, C. Ya., Mohylko, L. V. (2011). Ekonomichna pryroda ta pryznachennia derzhavnykh tsinnykh paperiv. Investytsii: praktyka ta dosvid, 13, 29-31.
- Budzetnyi kodeks Ukrainy [Elektronnyi resurs]: Kodeks Ukrainy vid 08.07.2010 No. 2456-VI. / Verkhovna Rada Ukrainy.
- Diakonova, I. I., Makarenko, M. I., Zhuravka, F. O. et al. (2013). Mizhnarodni finansy: navch. posib., Makarenko, M.I., Diakonova, I.I. (Ed.), Kyiv: “Tsentr uchbovoi literatury”, 548 s.
- Eremeichuk, R. A. (2014). Formuvannia i struktura derzhavnoho borhu Ukrainy ta osoblyvosti upravlinnia nym, Ekonomika i upravlinnia. Finansy, hroshovyi obih i kredyt, Issue 3, 110-114.
- Fedorov, V. A. (2011). Vydy derzhavnoho borhu Ukrainy. Aktualny problemy derzhavy i prava, Issue 57, 563-573.
- Hovorushko, T. A. (2014). Budzhetna systema Ukrainy: navch. posibnyk, Lviv: Mahnollia, 296 s.
- Karlin, M. I. (2008). Derzhavni finansy Ukrainy: navch. posib., Kyiv: Znannia, 348 s.
- Klymash, N. I., Bahatska, K. V., Demianenko, N. I. (2014). Budzhetna systema: navch. posib., Hovorushko, T. A. (Ed.), Lviv “Mahnoliia 2006”, 296 s.
- Kovalchuk, S. V., Forkun, I. V. (2006). Finansy: navch. posib., Lviv: “Novyi Svit – 2000”, 568 s.
- Krush, P. V., Klymenko, V. O. (2010). Hroshi ta kredyt: navch. posib., Kyiv: TSUL, 215 s.
- Matveeva, Yu. M. (2008). Metodychni pidkhody do upravlinnia derzhavnym borhom. Ekonomiko-matematychne modeluvannia sotsialno-ekonomichnykh system, Issue 13, 199-205.
- Mochernyi, S. V. et al. (2000). Ekonomichna entsyklopediia, Kyiv: Vydavnychyi tsentr “Akademiia”, 864 s.
- Oparin, V. M. (2004). Finansy (zahalna teoriia), 2-he vyd., dop. i pererob., Kyiv: KNEU, 240 s.
- Ospischeva, V. I. (Ed.). (2008). Finansy: navch. posib., Kyiv, 567 s.
- Pavlovska, E. O. (2013). Skladovi vhutrishnikh ta zovnishnikh zapozychen Ukrain. Ekonomichnyi analiz: zb. nauk. prats, Ternopil: Vydavnycho-polihrafichnyi tsentr Ternopilskoho natsionalnoho ekonomichnoho universytetu “Ekonomichna dumka”, 14(1), 308-313.
- Plets, I. I. (2011). Teoretychni aspekty doslidzhennia formuvannia derzhavnoho borhu. Aktualni problemy rozvytku ekonomiki rehionu, 7(2), 417-426.
- Plets, I. I. (2012). Teoretyko-kontseptualini zasady formuvannia vnutrishnioho derzhavnoho borhu. Aktualni problemy rozvytku ekonomiki rehionu, 8(2), 76-80.
- Plotnytskyi, M. I., Lobkovych, E. I., Mutalimov, M. H. (2003). Kurs ekonomichnoii teorii: navch. posib., Minsk: Musanta, 496 s.
- Polyvana, M. A. (2010). Analiz stanu derzhavnoho borhu Ukrainy [Elektronnyi resurs]: ofitsiinyi sait Rusnauky.
- Pro derzhavnyi vnutrishnii borh Ukrainy [Elektronnyi resurs]: Zakon Ukrainy vid 16.09.1992 No. 2604-XII. / Verkhovna Rada Ukrainy.
- Pro tsinni papery ta fondovyi rynok [Elektronnyi resurs]: Zakon Ukrainy vid 23.02.2006 No. 3480-IV. / Verkhovna Rada Ukrainy.
- Prutska, O. O., Siomchenkov, O. A., Harbar, Zh. V., Hubanova, L. I., Rudenko, V. V. (2010). Upravlinnia derzhavnym borhom: navch. posibn., Prutska, O. O. [Ed.], Kyiv: Tsentr navch. lit-ry, 216 s., 2012. 8(2), 76-81.
- Rohatenuk, E. V., Pozharitskaia, I. M. (2007). Finansy: ucheb. posob., Symferopol: Natsionalnaiia akademiia pryrodoohrannoho i kurortnoho stroitelstva, 280 s.
- Romanenko, O. R. (2004). Finansy: pidruchnyk, Kyiv: Tsentr navchalnoi literatury, 312 s.
- Ruda, O. L. (2015). Derzhavnyi borh Ukrainy na suchasnomu etapi rozvytku. Ekonomika ta derzhava, Issue 3, 64-67.
- Statystychna informatsiia schodo borhu [Elektronnyi resurs]: Ofitsiinyi web-portal Ministerstva finansiv Ukrainy.
- Valovoi vnutrennii produkt Ukrainy [Elektronnyi resurs]: Finansovyi portal MinFin.
- Vasylyk, O. D., Pavluk, K. V. (2002). Derzhavni finansy Ukrainy: pidruchnyk, Kyiv: NIOS, 608 s.
- Vasylyk, O. D. (2000). Teoriia finansiv: pidruchnyk, Kyiv: NIOS, 416 s.
- Verkholaz, V. V. (2001). Formirovanie sovremennykh mekhanizmov upravleniia hosudarstvennym dolhom. Extended abstract of candidate’s thesis. Moscow, 26 s.
- Voloshanuk, N. V., Mavdryk, O. O. (2016). Derzhavnyi borh Ukrainy ta ioho pohashennia. Naukovyi visnyk Khersonskoho derzhavnoho universytetu, Seriia: Ekonomichni nauky, Vypusk 18, Chastyna 1, 50-53.
- Vorobiov, Yu. M., Hrytsenko, O. I. (2009). Derzhavnyi borh ta ioho vplyv na sotsialno-ekonomichnyi stan Ukrainy v umovah svitovoi finansovoi kryzy. Naukovyi visnyk: finansy, banky, investytsii, Simferopol, Issue 1, 22-34.
- Vovk, O. M., Mazur, A. M. (2015). Analiz zdiisnennia derzhavnykh zapozychen v Ukraini. Ekonomichnyi analiz: zb. nauk. prats, Ternopil: Vydavnycho-polihrafichnyi tsentr Ternopilskoho natsionalnoho ekonomichnoho universytetu “Ekonomichna dumka”, 21(1), 231-238.
- Yurii, S. I. et al. (2008). Finansy, pidruchnyk, Yurii, S. I., Fedosov, V. M. (Eds.), Kyiv: Znannia, 611 s.
-
Public debt management and economic growth: A threshold regression approach
Nguyen Ngoc Son
doi: http://dx.doi.org/10.21511/pmf.12(1).2023.06
Public and Municipal Finance Volume 12, 2023 Issue #1 pp. 62-72 Views: 487 Downloads: 235 TO CITE АНОТАЦІЯThis study deals with the impact of national debt on gross domestic product growth, which plays an essential role in economic development when the debt-to-GDP ratio achieves the optimal public debt ratio. The goal of this study is to comprehend the relationship between government debt and GDP growth, which becomes increasingly essential for economic development as the debt-to-GDP ratio approaches the optimal threshold of public debt. The study applied regression threshold models, unit roots, and Pearson correlation tests to the data collected in Vietnam from 2000 to 2020 to determine the optimum national debt-to-GDP threshold. The results show that the correlation between national debt-to-GDP and GDP growth was 85.2%. All the variables are stationary at the first difference and lag after one year, and the 38% threshold is the best level of national debt for GDP growth. This study contributes to the theoretical enhancement of the current knowledge of the factors that offer the Vietnamese government a point of reference for policy recommendations to control national debt successfully.
