State Bonds Market Trends in the Context of Servicing the Public Debt
The insufficient development of the securities market of Ukraine leads to a rapid decrease in the competitiveness of the State. It is possible also to cover the budget deficit by using the tools of stock market. The most effective tool can be the government bonds. In the article the main trends of development of the government bond market were explored and the conditions for their use were analyzed. The concept of bonds of the internal state loan includes goals, objectives, functions and optimization criteria, taking into account the influence of endogenous and exogenous factors. When applying the concept of bonds of the internal state loan based on a systematic approach, it should be borne in mind, that the development of the Ukrainian State bonds market is impossible without improving its liquidity. Introduction of the effective economic reforms, reduction of the tax burden and the investments received from the international capital markets will contribute to the development of the market of government securities.