Vakhnenko T. External Debt’s Accumulation, Economic Role and Regulation

Research object: external national debt of Ukraine and external debt liabilities of the low- and middle-income countries in the world’s financial and economic relations. The purpose of research: elaboration of the theoretical and methodological pillars of the external debt’s accumulation and operation of the debt mechanisms in the low- and middle-income countries as well as system measures of financial and structural policy aimed at favorable economic effects of the foreign borrowings generation. Methods of research: scientific abstraction, structural and functional method, analysis and synthesis, historical method, statistical comparisons, econometric methods. Theoretical and practical results: discovery of the complex interdependencies between domestic economic conditions, factors of the global economic environment and debt processes in the poor countries; proposals related to the integral system of industrial, scientific, exchange rate, monetary, fiscal and debt policy for positive economic spillovers of the foreign borrowing in the framework of Ukrainian economy. Conclusions and recommendations are used by the Ministry of Economy, Ministry of Finance, National Bank of Ukraine, Board for National Security and Defense, Presidential Secretariat of Ukraine. Branch of implementation is economy.