External Debt Burden and Its Impact on the Countries’ Budgetary Policy Cover Image

External Debt Burden and Its Impact on the Countries’ Budgetary Policy
External Debt Burden and Its Impact on the Countries’ Budgetary Policy

Author(s): Vladimir Sergeevich Osipov, Olga Alekseevna Bykanova, Ravil Gabdullaevich Akhmadeev, Mikhail Evgenievich Kosov, Aleksei Valentinovich Bogoviz, Vladimir Mihaylovich Smirnov
Subject(s): National Economy, Supranational / Global Economy, Economic policy, Economic development, Financial Markets, Fiscal Politics / Budgeting
Published by: Reprograph
Keywords: national debt; budgetary policy; taxation; financial system of the state; macroeconomics; corporate sector of the economy;

Summary/Abstract: The impact of the global world economy increases the relevance and significance of the debt policy, contributing to consolidation of the state guarantees for the national economy. The internal and external policy implemented by the state and failing to provide the balance of budget revenue and expenditure is a cause of the national debt. Alongside with that, it is impossible to identify any specific country which would not have faced such a problem in any of the periods in its history. The correlation analysis employed in studying the composition and structure of the external debt of the world countries’ leading economies enabled to characterize and prove most likely the assumption of export growth depending on the increase in the external debt in the analyzed subjects, and the extent of impact on the growth of the corporate sector activity before everything else. At the same time the study revealed the negative trends of increasing the national debt ratios in comparison to the corporate one when producing medium- term forecasts for an individual country of the world. This, in turn, allowed formulating the main directions for the identification of further reserves in improving efficiency of the state’ external debt management.

  • Issue Year: XII/2017
  • Issue No: 48
  • Page Range: 342-347
  • Page Count: 6
  • Language: English