PUBLIC DEBT MANAGEMENT IN THE ECONOMIC DEVELOPMENT POLICY: PROBLEMS AND PROSPECTS OF SCIENTIFIC RESEARCH
Abstract
In recent years, the problems of uncontrolled growth and inefficient use of public debt have become increasingly common in most countries, especially in the context of economic instability caused by crises (in particular, the Covid-19 pandemic, geopolitical conflicts, etc.) Recognizing the critical importance of this issue, the purpose of this study is to conduct a bibliometric analysis that sheds light on the scientific landscape of the role of public debt management in the context of ensuring economic sustainability and further economic development of the country. To achieve this goal, the article uses a number of special methods and tools: built-in tools of the Scopus database, the VosViewer software tool, and the Google Trends web tool. As part of the bibliometric analysis, the author examined trends in search queries and scientific literature for the keywords “public debt management” and “economic development”, and clustered them to identify promising and most relevant research areas. The article analyzes 271 publications from 1985 to May 2024, selected in the Scopus database. Dynamic analysis showed a pronounced trend towards an increase in the number of scientific publications from year to year, with peak periods in 2020, 2021 and 2022 (which can be attributed to the need to increase public debt due to the Covid-19 pandemic and the full-scale invasion of Ukraine by russia). The trend analysis of the interest of Internet users showed constant and sharp fluctuations in the frequency of search queries on public debt management. The substantive analysis, implemented with the help of VOSviewer software, allowed us to identify 3 thematic clusters: the first one unites publications on how effective public debt management affects sustainable economic growth, financial stability and the country's ability to adapt to crisis situations; the second – how public debt and its management in developed countries affects macroeconomic indicators, public policy and socio-economic conditions; the third – how public debt management affects the efficiency of the health care system. The analysis resulted in the identification of generally recognized key theses for ensuring effective public debt management and promising areas of research.
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