THEORETICAL BASIS OF THE FORMATION OF EFFICIENT MACROECONOMIC POLICY AND EXTERNAL BORROWING MANAGEMENT SYSTEM IN UKRAINE
This paper investigates the issues of the formation of mechanisms and instruments of state policy in the field of the development and implementation of programs of external borrowing and financial assistance to Ukraine in context of globalization. The article shows the ways and methods for public administration of the formation of the development and implementation of programs of external borrowing and financial assistance to Ukraine in context of globalization. It has been proved that public administration and its component which is state regulation towards external borrowing and financial assistance to Ukraine are one of the most important aspects for public administration and management of the national economic system. It has been determined that the importance of studying of the mechanisms for public administration of external borrowing and financial assistance is owing to the fact that it is one of the key elements of sustainable development of the national economy and an efficient approach for state formation in Ukraine. In general, insufficient scientific and theoretical development of managerial aspects of state policy making, mechanisms, tools (methods) in the sphere and implementation of external borrowing programs and financial assistance to Ukraine have led to the selection of the topic of the article and formed the directions for further research of this issue under conditions of globalization. The further analysis has shown that since 2000 all the Programs of the Cabinet of Ministers of Ukraine, approved by the Resolutions of the Cabinet of Ministers of Ukraine, implement measures of an effective mechanisms of cooperation of the public administration authorities with donors and international organizations towards implementation of financial assistance to Ukraine. It has been discovered that the science of public administration has a lack of scientific knowledge and studies of the management system in the field of formation and realization of external borrowings and financial assistance to Ukraine. A few scientific and theoretical developments of this issue could be found in the researches of specialists who changed their area of study from economics into the science of state administration. It has been concluded that the main reasons for the increase in the external debt in 2018 of public and government guaranteed debt are budgetary financing through public borrowing, including by attracting funds from the European Union and the capitalization of new and old state-owned banks.