Based on research results, economical-statistical model was developed aimed to exhibit the connection between the government debt and major economic factors, namely: gross capital formation, household consumption and credits granted to the residents. After the statistical data of European countries had been examined, the peculiarities of debt formation were elicited in each of them. As a result, the relation between the type of economy and factors of debt formation was outlined.

Keywords: Government debt; government borrowing; capital formation; consumption of the population; lending to the economy.

DOI: http://dx.doi.org/10.17721/1728-2667.2013/150-9/9

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