Hierarchy model of threats leading to the growth of the Ukraine’s state debt

Abstract

The growth of public debt today is not a unique phenomenon. However, taking into account the variety of debt relations scenarios in the different countries, debt security issues are becoming more relevant. Modern debt management concepts are developing in two opposite planes. The first one criticizes the increase of public debt and forms only the negative manifestations for the growing level of public debt. The other one is based on the theory of effective public debt management, which determines also positive effects of the public debt increase. The second theory is confirmed by the successful operation of countries with significant debt burdens. In this regard, the uniqueness of the conditions for debt financing of the state budget deficit for different economies has been proved.