Government debt and credit: features of manifestation of macroeconomic effects
The relevance of the research topic is the need to systematize the theoretical basis of public debt and credit, which underlies the study of practical aspects and is the initial stage of the study of this issue. Separation of macroeconomic effects will allow to reveal the main negative consequences, which brings an excessive increase in the size of public debt. Formulation of the problem. Income and expenditure discrepancies often accompany the budget process. At the same time, smaller amounts are usually revenues, especially when it comes to the budget of a certain country. The theoretical component, which is to study the basic essential characteristics of public debt, the systematization of scientists' views on various aspects of the emergence of public debt, the effects of public debt in the economy – the basis that serves as the basis for scientific research in the area of optimization of state coverage. The purpose of the article is to systematize the theoretical aspects of public debt and credit in terms of distinguishing features of macroeconomic effects. Research methods. A number of general scientific and special methods of scientific knowledge were used, among which: generalization, systematization, induction, deduction, abstraction. The results of this study allowed us to define the concept of public debt, which is based on the study of the features of credit relations in which the state acts as a borrower. The main macroeconomic effects arising from excessive debt growth were distinguished. The results of the study can be used as a theoretical basis for further scientific developments in this field. The conclusions of this study are to prove the continuity of the concept of public debt with the concept of public credit, with the hierarchy of interdependence of concepts has the form of the following sequence: 1) the disproportion between the revenue and expenditure; 2) deficit of the state budget; 3) state credit; 4) public debt. The effects of the national debt on the economy and the peculiarities of ...