LOGOS OF EXTERNAL PUBLIC DEBT: ONTOLOGICAL AND EPISEOOLOGICAL ASPECTS

Abstract

Introduction. The article considers the theoretical foundations of the essence of external public debt based on the combination of the plurality of its ontological interpretations with other categories of public finance. The content of the concept of external public debt from the standpoint of its understanding as an economic phenomenon, economic category, an instrument of macroeconomic policy and financial burden for future generations is considered. The main approaches and tools of external public debt management are described. The aim is to build a fundamental theoretical construct of the study of external public debt in terms of substantiating its ontological and epistemological interpretations based on the study of relationships with other categories of public finance and the need to create a basis for effective policy of external debt management. Method (methodology). The article uses methods of empirical and retrospective analysis of world and domestic economic thought in order to identify the fundamental foundations of external public debt; methods of generalization and comparison of scientific approaches to determining the logo of external public debt; a systematic approach to justify the relationship and interdependence of external public debt and other categories of public finance. Results. The article formulates the logos of external public debt as a theoretical and philosophical construct of expressing external public debt not only as a unity of components, but a combination of multiple ontological interpretations with other categories of public finance, credit and international relations, national interests and comprehensive orderly reflection of their relationships for the level of confidence and cyclicality in the economy. Such ontological interpretations of external public debt as economic phenomenon, economic category, macroeconomic policy instrument, factor of influence on other categories of public finances, national income and economic processes, object of management are singled out. The conceptual principles of external public debt management are determined.