GLOBAL FINANCIAL CRISES IMPACT ON THE ACCESS OF TRANSITIONAL ECONOMIES TO INTERNATIONAL BOND MARKET

Abstract

The relevance of the material stated in article, is caused by the neces-
sity of understanding the difference in borrowing conditions during the course of
and after the crises, and their impact on the access of borrowers from transitional
economies to bond markets. In the article the role of debt financing in the economic
growth is reviewed, current trends in the international economy are determined, the
comparative analysis of borrowing conditions is conducted and the econometric
analysis to determine factors that influenced the borrowers’ behavior is made. The
conducted research may be broadened by analyzing the changes in the access of
Ukrainian companies to other sectors of financial market.