IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v8y2021i4p654-667.html
   My bibliography  Save this article

The impact of the public debt of a country on the sustainable development of entrepreneurship

Author

Listed:
  • Dmytro Zhuravlov

    (Office of the President of Ukraine, Ukraine)

  • Mykhailo Prokhorenko

    (National Defense University of Ukraine named after Ivan Cherniakhovskyi, Ukraine)

  • Tamara Chernadchuk

    (Sumy National Agrarian University, Ukraine)

  • Vitaliy Omelyanenko

    (Institute of Industrial Economics of National Academy of Sciences of Ukraine, Ukraine)

  • Valentyna Shevchenko

    (Alfred Nobel University, Ukraine)

Abstract

It is substantiated that as of today the transition to the concept of debt sustainability, which affects the sustainable development of entrepreneurship, is dominant over other areas. The purpose of the study is scientific substantiation of the ways of transformation of debt management in Ukraine, taking into account the experience of EU countries, strengthening of the medium-term aspect of public and state-guaranteed debt management for the purpose of enhancement of sustainable development of entrepreneurship. An analysis of the best practices of the member states of the European Union, in particular the new member states of the European Union, regarding the experience of debt management, which is relevant for Ukraine, was carried out. On the basis of statistical indicators, it is substantiated that these countries in the implementation of public debt management strategy have effectively made the transition to debt management based on the concept of debt sustainability. The use of mechanisms and tools of the concept of debt sustainability in debt management allowed countries such as Hungary, Poland, Bulgaria, Latvia to significantly improve key debt indicators and indicates the correctness and feasibility of using this approach in modern conditions. It is proven that the main area of improving public debt management in Ukraine is the formation of a systematic approach to risk management on the part of the authorized body. This approach should include continuous monitoring of the full range of debt operations, analysis of the reasons, which led to deviations from the planned indicators and the application of the necessary management decisions aimed at the unconditional achievement of debt policy objectives.

Suggested Citation

  • Dmytro Zhuravlov & Mykhailo Prokhorenko & Tamara Chernadchuk & Vitaliy Omelyanenko & Valentyna Shevchenko, 2021. "The impact of the public debt of a country on the sustainable development of entrepreneurship," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 654-667, June.
    • Handle: RePEc:ssi:jouesi:v:8:y:2021:i:4:p:654-667
    DOI: 10.9770/jesi.2021.8.4(40)
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/32/Zhuravlov_The_impact_of_the_public_debt_of_a_country_on_the_sustainable_development_of_entrepreneurship.pdf
    Download Restriction: no
    File URL: https://jssidoi.org/jesi/article/846
    Download Restriction: no
    File URL: https://libkey.io/10.9770/jesi.2021.8.4(40)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Siew-Peng Lee & Yan-Ling Ng, 2015. "Public Debt and Economic Growth in Malaysia," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(1), pages 119-126.
    2. Markus Ahlborn & Rainer Schweickert, 2018. "Public debt and economic growth – economic systems matter," International Economics and Economic Policy, Springer, vol. 15(2), pages 373-403, April.
    3. Eunji Kim & Yoonhee Ha & Sangheon Kim, 2017. "Public Debt, Corruption and Sustainable Economic Growth," Sustainability, MDPI, vol. 9(3), pages 1-30, March.
    4. Arai, Real & Naito, Katsuyuki & Ono, Tetsuo, 2018. "Intergenerational policies, public debt, and economic growth: A politico-economic analysis," Journal of Public Economics, Elsevier, vol. 166(C), pages 39-52.
    5. Mencinger, Jernej & Verbic, Miroslav & Aristovnik, Aleksander, 2015. "Revisiting the role of public debt in economic growth: The case of OECD countries," MPRA Paper 67704, University Library of Munich, Germany.
    6. Arčabić Vladimir & Tica Josip & Lee Junsoo & Sonora Robert J., 2018. "Public debt and economic growth conundrum: nonlinearity and inter-temporal relationship," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 22(1), pages 1-20, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Abdul Jalil, 2020. "Debt Sustainability: Economic Growth is the Panacea," PIDE Knowledge Brief 2020:19, Pakistan Institute of Development Economics.
    2. Lau, Evan & Moll de Alba, Jaime & Liew, Kim-Hing, 2022. "Debt and economic growth in Asian developing countries," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 599-612.
    3. Bulus Gokay Canberk, 2020. "Growth-maximizing public debt in Turkey: An empirical investigation," Economics and Business Review, Sciendo, vol. 6(3), pages 68-87, August.
    4. Gopal Prasad Bhatta, PhD & Anu Mishra, 2020. "Estimating Optimum Growth-Maximizing Public Debt Threshold for Nepal," NRB Economic Review, Nepal Rastra Bank, Economic Research Department, vol. 32(2), pages 1-28, October.
    5. Mindaugas Butkus & Janina Seputiene, 2018. "Growth Effect of Public Debt: The Role of Government Effectiveness and Trade Balance," Economies, MDPI, vol. 6(4), pages 1-27, November.
    6. Mindaugas Butkus & Diana Cibulskiene & Lina Garsviene & Janina Seputiene, 2021. "Empirical Evidence on Factors Conditioning the Turning Point of the Public Debt–Growth Relationship," Economies, MDPI, vol. 9(4), pages 1-22, December.
    7. Minhaj ud-Din & Muhammad Azam Khan & Muhammad Tariq, 2020. "External Debt - Blessing or Curse: Empirical Evidence from Pakistan," International Journal of Economics and Financial Issues, Econjournals, vol. 10(4), pages 235-246.
    8. JinHyo Joseph Yun & Tan Yigitcanlar, 2017. "Open Innovation in Value Chain for Sustainability of Firms," Sustainability, MDPI, vol. 9(5), pages 1-8, May.
    9. Amarachukwu Anthony ANYANWU, 2021. "Debt-financed public investment in developing countries: Does the efficiency of public investment matter?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(626), S), pages 259-272, Spring.
    10. Bitar, Nicholas & Chakrabarti, Avik & Zeaiter, Hussein, 2018. "Were Reinhart and Rogoff right?," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 614-620.
    11. Arawatari, Ryo & Ono, Tetsuo, 2021. "Public debt rule breaking by time-inconsistent voters," European Journal of Political Economy, Elsevier, vol. 69(C).
    12. Chowdhury, Mohammad Ashraful Ferdous & Prince, Ehsanur Rauf & Shoyeb, Mohammad & Abdullah, Mohammad, 2024. "The threshold effect of institutional quality on sovereign debt and economic stability," Journal of Policy Modeling, Elsevier, vol. 46(1), pages 39-59.
    13. Augustine, Blessy & Rafi, O.P.C. Muhammed, 2023. "Public debt - economic growth nexus in emerging and developing economies: Exploring nonlinearity," Finance Research Letters, Elsevier, vol. 52(C).
    14. Yuki Uchida & Tetsuo Ono, 2024. "Generational Distribution of Fiscal Burdens: A Positive Analysis," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(1), pages 393-430, February.
    15. Gan-Ochir Doojav & Munkhbayar Baatarkhuu, 2024. "Public debt and growth in Asian developing economies: evidence of non-linearity and geographical heterogeneity," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 14(2), pages 421-452, June.
    16. Maebayashi, Noritaka, 2023. "The pace of fiscal consolidations, fiscal sustainability, and welfare: An overlapping generations approach," Journal of Macroeconomics, Elsevier, vol. 75(C).
    17. Uchida, Yuki & Ono, Tetsuo, 2021. "Political economy of taxation, debt ceilings, and growth," European Journal of Political Economy, Elsevier, vol. 68(C).
    18. Kazi Musa & Norli Ali & Jamaliah Said & Farha Ghapar & Oleg Mariev & Norhayati Mohamed & Hirnissa Mohd Tahir, 2023. "Does the Effectiveness of Budget Deficit Vary between Welfare and Non-Welfare Countries?," Sustainability, MDPI, vol. 15(5), pages 1-22, February.
    19. Yu-Xia Tu & Oleksandr Kubatko & Vladyslav Piven & Bohdan Kovalov & Mykola Kharchenko, 2023. "Promotion of Sustainable Development in the EU: Social and Economic Drivers," Sustainability, MDPI, vol. 15(9), pages 1-15, May.
    20. Marta Gómez-Puig & Simón Sosvilla-Rivero, 2017. "Public debt and economic growth: Further evidence euro area," IREA Working Papers 201715, University of Barcelona, Research Institute of Applied Economics, revised Sep 2017.

    More about this item

    Keywords

    sustainable development; entrepreneurship; public debt; management strategy; debt sustainability;
    All these keywords.

    JEL classification:

    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:8:y:2021:i:4:p:654-667. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.