Dolinovska O. Government external borrowings in macroeconomic system of regulation in terms of globalization.

Dissertation is devoted to theoretical and methodological basis of economic substance and nature of external state borrowings, their place in the system of credit relations in the context of globalization. Provided the author's definition, structure and methods of external state borrowings. Disclosed institutional and organizational system of international credit relations, objectives, goals and conditions of borrowings on global capital markets. Detected position of external state borrowings in the macroeconomic policy under globalization. Researched tendencies of increasing countries indebtedness in the modern world. The analysis of forming and managing external state debt has been made by the author also as feasibility of restructuring governmental borrowings. It has been argued that with the expansion of globalization processes by combining markets and borders in the world, public external borrowings become an effective instrument for stabilization and modernization of the national economy. It has been set that in a globalized world international financial institutions play an important role in institutional and organizational support of credit relations, namely the International Monetary Fund and the World Bank, international commercial banks and foreign governments.