I?I?NOA?NOAI INA?OE OE?A?IE

EE?ANUeEEE IAOe?IIAEUeIEE AEIIII?*IEE OI?AA?NEOAO

OAeE
336.76.012.12

*a?aiia Na?oeaia Iao??aia

AIAE?C NOAIIAEAIIss OIIAeIAIAI ?EIEO

A OIIAAO I?EAAOECAOe??

Niaoe?aeuei?noue 08.03.01 — Noaoenoeea

AAOI?AOA?AO

aeena?oaoe?? ia caeiaoooy iaoeiaiai nooiaiy

eaiaeeaeaoa aeiiii?/ieo iaoe

EE?A — 1999

7

Aeena?oaoe?y ? ?oeiien

?iaioa aeeiiaia ia eaoaae?? noaoenoeee Ee?anueeiai iaoe?iiaeueiiai
aeiiii?/iai oi?aa?neoaoo I?i?noa?noaa ina?oe Oe?a?ie

Iaoeiaee ea??aiee -aeieoi? aeiiii?/ieo iaoe, i?ioani?

Aa?aneiaiei Na?a?e Na?a?eiae/,

Ee?anueeee iaoe?iiaeueiee aeiiii?/iee oi?aa?neoao,

caa?aeoaa/ eaoaae?e noaoenoeeeIo?oe?ei? iiiiaioe:aeieoi? aeiiii?/ieo
iaoe, i?ioani?

Caoiaeae Aaea??e Ai?eniae/,

Oe?a?inueei-o?inueeee ?inoeooo iaiaaeaeiaioo ? a?ciano,

caa?aeoaa/ eaoaae?e iae?eo, aiae?co oa aoaeeoo

eaiaeeaeao aeiiii?/ieo iaoe, aeioeaio

Eiaooi Iaoae?y Aanee?aia,

Oe?a?inueea aeaaeai?y ciai?oiuei? oi?a?ae?,

aeioeaio eaoaae?e i?aeia?iaeii? aeiiii?eeI?ia?aeia onoaiiaa
-Oa?iii?euenueea aeaaeai?y ia?iaeiiai ainiiaea?noaa I?i?noa?noaa ina?oe
Oe?a?ie

(eaoaae?a noaoenoeee)

Caoeno aeena?oaoe?? a?aeaoaeaoueny » 26 » aa?aciy 1999 ?ieo

i 17-00 aiaeei? ia can?aeaii? niaoe?ae?ciaaii? a/aii? ?aaee Ae.26.006.01

Ee?anueeiai iaoe?iiaeueiiai aeiiii?/iiai oi?aa?neoaoo ca aae?anith:

252057, Ee?a, i?iniaeo Ia?aiiae, 54/1, aoae. 214

C aeena?oaoe??th iiaeia iciaeiieoeny o a?ae?ioaoe? Ee?anueeiai
iaoe?iiaeueiiai aeiiii?/iiai oi?aa?neoaoo

Aaoi?aoa?ao ?ic?neaiee “ 22 » ethoiai 1999 ?ieo

A/aiee nae?aoa?

niaoe?ae?ciaaii? a/aii? ?aaee

I.Ae.Oa?aiia

CAAAEUeIA OA?AEOA?ENOEEA AeENA?OAOe?EII? ?IAIOE

Aeooaeuei?noue oaie. Ia ii/aoeo 90-o ?ie?a iaoa e?a?ia noaea ia oeyo
noai?aiiy ?eieiai? aeiiii?ee. ?eieiaa o?ainoi?iaoe?y aeiiii?ee Oe?a?ie
ia?aaeaa/a? ia o?eueee ci?ie a aaeoc? a?aeiinei aeaniino? ? ae?iaie/eo
a?aeiinei, a e iaenei??oa oi?ioaaiiy aaeaeaaoii? oeei a?aeiineiai
o?iainiai-e?aaeeoii? nenoaie. Iaeii/anii c ?aoi?ioaiiyi
ia?iaeiiainiiaea?nueeiai eiiieaeno a Oe?a?i? iiaeiii a?aeaooeny
aeeiai?/ia noaiiaeaiiy o?iainiaiai ?eieo.

Noaiiaeaiiy oaeiai eiai naaiaioo ye oiiaeiaee ?eiie caeiiii??ii aeieeaa?
?c i?ioeano i?eaaoecaoe?? (ei?ii?aoecaoe??) aea?aeaaii? aeaniino?.
I?eaaoecaoe?y ye noa?aeaiue aeiiii?/ii? ?aoi?ie coiiaeth?, a naith
/a?ao, oaiie ? oa?aeoa? i?aai?caoe?? oiiaeiaiai ?eieo. Aeiiii?/ia e?eca
a Oe?a?i? i?ecaaea aei noaaiaoe?? oiiaeiaiai ?eieo. Aea a oeeo neeaaeieo
oiiaao i?iaeiaaeothoue ooieoe?iioaaoe oeaio?e na?oeo?eaoii?
i?eaaoecaoe??, /a?ac ye? a?aeaoaa?oueny ?iciiae?e oe?iieo iaia??a
i?eaaoeciaaieo i?aei?e?inoa.

Noai?aiiy oiiaeiaiai ?eieo a Oe?a?i? a?aeaoaa?oueny iinooiiai: a?ae
i?inoeo oi?i aei a?eueo neeaaeieo aeey oiai, uia oa?a?aoe a naaa
ia?aaeiaee aeina?ae, ui iaeiie/aii na?oiaith i?aeoeeith.

I?iaeaiaie i?aai?caoe?? ? aeine?aeaeaiiy oiiaeiaiai ?eieo a niaoeeo?/ieo
oiiaao eiai noaiiaeaiiy a Oe?a?i? i?enay/ai? ?iaioe Aieueoeaa?aa I.A.,
Eiaooi I.A., Eieanieea A.A., E?aoca A., Iicaiaiai I.I., Oeueyiiaa A. oa
?ioeo.

Aea noaiiaeaiiy oiiaeiaiai ?eieo iaooiaoo?oueny ia aaeee? ia?aiiie,
aieiai? na?aae yeeo — iaaeio?eiaiiy no?ie?a i?eaaoecaoe??,
ia?eoi?/i?noue oa ci?ia i??i?eoao?a ia eiaeiiio aoai? i?eaaoecaoe??
aea?aeaaieo i?aei?e?inoa, iaaeineiiaea eiioeaioe?y ianiai?
i?eaaoecaoe??, ia??aiii??i?noue i?ioeano i?eaaoecaoe?? ii ?aa?iiao,
a?aenooi?noue iaoiaeieia?/ieo i?aeoiae?a aei aiae?co iayaii?
?ioi?iaoe??. Aeai?, ye? ioae?eothoueny a i?an?, ia iiaeeeai i?inoaaeeoe
a aeeiai?oe?, ai oey ?ioi?iaoe?y iineoue iaiaaeaiee iaeii?aciaee
oa?aeoa?. Oiaoi iayaia ?ioi?iaoe?y ia a?aeaeaa? ae?eniiai noaio ?eieo
oe?iieo iaia??a ? ?iaeoue iaiiaeeeaei i?eeiyooy ??oaiue iioaioe?eieie
?iaanoi?aie uiaei eoi?ae?-i?iaeaaeo oe?iieo iaia??a. Ai?iaaaeaeaiiy
iaiao?aeiiai ?ioi?iaoe?eiiai caaacia/aiiy noaio ? ?icaeoeo oiiaeiaiai
?eieo ni?eyei a ae??oaiith oeeo i?iaeai, /ei ? iaoiiaeth?oueny
aeooaeuei?noue oaie aeena?oaoe??.

Ca’ycie ?iaioe c ieaiaie iaoeiai-aeine?aeieo ?ia?o. Aeena?oaoe?eia
?iaioa aeeiioaaeanue a?aeiia?aeii aei ieaio iaoeiai-aeine?aeii? oaie
eaoaae?e noaoenoeee Ee?anueeiai iaoe?iiaeueiiai aeiiii?/iiai
oi?aa?neoaoo «Noaoenoe/ia caaacia/aiiy aiae?co oa i?iaiico
nioe?aeueii-aeiiii?/ieo yaeu ? i?ioean?a a ia?ao?aeiee ia??iae», ?
aea?aeaaii? ?a?no?aoe?? 0196 U 007511.

Iaoith ?iaioe ? ?ic?iaea iniiaieo iaoiaeieia?/ieo i?aeoiae?a aei
noaoenoe/iiai aiae?co noaio ? ?icaeoeo oiiaeiaiai ?eieo a Oe?a?i? a
oiiaao noaiiaeaiiy ?eieiaeo a?aeiinei ? i?iaaaeaiiy ianiai?
i?eaaoecaoe??.

O a?aeiia?aeiino? c iinoaaeaiith iaoith a ?iaio? ae??oothoueny
caaaeaiiy:

1. Ocaaaeueiaiiy ?nioth/eo iaoiae?a oa i?aeoiae?a ?ica’ycaiiy aeaii?
i?iaeaie.

2. Aecia/aiiy iniaeeainoae, i?eoaiaiieo no?oeoo?? oiiaeiaiai ?eieo
O?a?ie.

3. ?ic?iaea iniiaieo iai?yi?a noaoenoe/iiai aeine?aeaeaiiy oi?ioaaiiy ?
ooieoe?iioaaiiy oiiaeiaiai ?eieo a Oe?a?i?.

4. Iaa?oiooaaiiy aeioe?eueiino? oa iiaeeeaino? aeei?enoaiiy iaaieo
noaoenoe/ieo iaoiae?a aeey aiae?co i?ioean?a, ui a?aeaoaathoueny ia
oiiaeiaiio ?eieo Oe?a?ie.

5. Noaoenoe/iee aiae?c i?ioean?a, ui a?aeaoaathoueny ia oiiaeiaiio
?eieo, ca aeiiiiiaith cai?iiiiiaaieo iaoiae?a oa i?aeoiae?a.

I?aaeiaoii aeine?aeaeaiiy ? i?ioeane noaiiaeaiiy ? ?icaeoeo oiiaeiaiai
?eieo Oe?a?ie.

Ia’?eoii aeine?aeaeaiiy ? oiiaeiaee ?eiie Oe?a?ie.

Oai?aoeei-iaoiaeieia?/iith iniiaith aeena?oaoe?eii? ?iaioe ?
aeei?enoaiiy no/anieo aeinyaiaiue a?o/eciyieo ? ca?oa?aeieo a/aieo a
aeiiii?/i?e iaooe? noiniaii i?iaeai ooieoe?iioaaiiy oiiaeiaiai ?eieo.
Aeine?aeaeaiiy aaco?oueny ia canoinoaaii? iaoiae?a
aeiiii?ei-noaoenoe/ieo iaoiae?a: a?oioaaiue, aei??thaaiiy aca?iica’yceo,
i?ae?aa?iiaeueieo ii??aiyiue, a?ao?/iee oa ?io?..

Noaoenoe/io aaco aeine?aeaeaiiy noaiiaeyoue aeai? Aea?aeaaiiai eii?oaoo
noaoenoeee Oe?a?ie, Aea?aeaaii? eii?n?? c oe?iieo iai??a oa oiiaeiaiai
?eieo, aeiiii?/ieo ? iie?oe/ieo ia??iaee/ieo aeaeaiue.

Iaoeiaa iiaecia aeena?oaoe?eii? ?iaioe iieyaa? a eiiieaeniiio aea/aii?
i?iaeaie, iia’ycaii? c noaoenoeei-aeiiii?/iei aiae?cii oiiaeiaiai ?eieo
a Oe?a?i?. Cie?aia, a aeena?oaoe??:

1) aecia/ai? iniaeeaino? ooieoe?iioaaiiy noa’?eo?a oiiaeiaiai ?eieo
Oe?a?ie;

2) ?ic?iaeaia noaia noaoenoe/iiai aeine?aeaeaiiy oiiaeiaiai ?eieo a
Oe?a?i?;

3) ocaaaeueiaia ? iiiaeaia nenoaia iieaciee?a, ui oa?aeoa?ecothoue
aeaiee ?eiie;

4) ?ic?iaeai? iaoiaee/i? iieiaeaiiy aiae?co ?eieo oe?iieo iaia??a a
Oe?a?i?.

I?aeoe/ia cia/aiiy iaea?aeaieo ?acoeueoao?a iieyaa? o ?o aeei?enoaii? a
i?aeoe/i?e ?iaio? oi?aae?iiy noaoenoeee o?iain?a Aea?aeaaiiai eii?oaoo
noaoenoeee Oe?a?ie (aeo a?ae 08.12.98 ?10-01-3/60), a oaeiae o
iaa/aeueiiio i?ioean? Ee?anueeiai iaoe?iiaeueiiai aeiiii?/iiai
oi?aa?neoaoo i?e aeeeaaeaii? eo?n?a «O?iainiai-aaie?anueea noaoenoeea»,
«Noaoenoeea o?iainiaiai ?eieo». Iiaeaeueoa ai?iaaaeaeaiiy ie?aieo
iieiaeaiue, aeniiae?a oa i?iiiceoe?e a i?aeoe/io ae?yeuei?noue
Aea?aeeiinoaoo, Aea?aeaaii? eii?n?? c oe?iieo iaia??a oa oiiaeiaiai
?eieo aeicaieeoue i?aeaeueoe ye?noue aiae?co oiiaeiaiai ?eieo a Oe?a?i?
oa oaeineiiaeeoe eiai ae?yeuei?noue c iaoith iaaeaiiy ?eieo ?en,
i?eoaiaiieo oeea?e?ciaaiei oiiaeiaei ?eieai.

Ai?iaaoe?y ?acoeueoao?a aeena?oaoe??. ?acoeueoaoe aeine?aeaeaiiy
iaaiai?thaaeenue ia can?aeaiiyo eaoaae?e noaoenoeee Ee?anueeiai
iaoe?iiaeueiiai aeiiii?/iiai oi?aa?neoaoo o 1995-1998 ?.?. oa
aeiiia?aeaeenue ia ??? Anaoe?a?inuee?e iaoeiai-i?aeoe/i?e eiioa?aioe??
«?eieia? ?aoi?ie a Oe?a?i? (aniaeo noaoenoeee ? aiae?co
ainiiaea?nueei-o?iainiai? ae?yeueiino?)», 1996, i.*a?i?aoe?.

Iaoeia? ioae?eaoe??. Iniiai? iieiaeaiiy aeena?oaoe?? iioae?eiaai? a
o?ueio iaoeiaeo i?aoeyo caaaeueiei ianyaii 0,8 ae?oeiaaieo a?eooa.

No?oeoo?o ?iaioe neeaaeathoue anooi, /ioe?e ?icae?ee, aeniiaee, nienie
aeei?enoaieo aeaea?ae, aeiaeaoee. ?iaioa ia?aoiao? 151 noi??ieo
ae?oeiaaiiai oaenoo, 24 oaaeeoe?, 18 ?enoie?a, 14 aeiaeaoe?a. Nienie
eeoa?aoo?e i?noeoue 74 iaeiaioaaiiy.

INIIAIEE CI?NO ?IAIOE

O «Anooi?» iaa?oioiaaii aeooaeuei?noue oaie aeena?oaoe?eii? ?iaioe,
noi?ioeueiaaii iaoo ? caaaeaiiy aeine?aeaeaiiy, iieacaii iiaecio oa
i?aeoe/ia cia/aiiy io?eiaieo ?acoeueoao?a.

?icae?e 1. «Oai?aoe/i? aniaeoe noaoenoe/iiai aeine?aeaeaiiy oiiaeiaiai
?eieo» aeeth/a? o?e i?ae?icae?ee.

O ?icae?e? ia iniia? ocaaaeueiaiiy ?nioth/eo i?aeoiae?a aei
aeine?aeaeaiiy oiiaeiaiai ?eieo oa c o?aooaaiiyi iniaeeainoae eiai
i?aai?caoe?? ? ?icaeoeo a Oe?a?i? iiaeaiee ci?no iniiaieo iiiyoue, ye?,
cae/aeii, aeey oeueiai aeei?enoiaothoueny. Cie?aia, i?iaaaeai?
ii??aiyiiy iniaeeainoae no?oeoo?e oe?iieo iaia??a, ui ciaoiaeyoueny a
ia?ao ca ei?aeiiii oa a Oe?a?i?, ui aeicaieeei c?iaeoe aeniiaie i?i
iaaeinoaoi?e ??aaiue ?icaeoeo oiiaeiaiai ?eieo a Oe?a?i?.

Oae, ia nueiaiaei? a Oe?a?i? iaea?eueo ?iciianthaeaeaiei aeaeii oe?iieo
iaia??a ? aeoe??, ianya ai?n?e yeeo oaeaeei c?inoa?, ye c?inoa? ? ?o
/anoea a caaaeueiiio ianyao aeiouaieo oe?iieo iaia??a (oaae.1).
Niinoa??aathoueny ci?ie o aaeocaa?e no?oeoo?? ai?n?e: ciaioeeenue ianyae
ai?n?e aaie?anueeeie no?oeoo?aie ? ca?eueoeeenue ianyae ai?n?e
i?iieneiaeie i?aei?e?inoaaie (?en.1). Oea iiynith?oueny ca?eueoaiiyi
e?eueeino? ca?a?no?iaaieo ai?n?e aeoe?e i?eaaoeciaaieo ?
ei?ii?aoeciaaieo i?aei?e?inoa.

Ia?aeiiee ?eiie aeoe?e i?eaaoeciaaieo i?aei?e?inoa a Oe?a?i? iineoue
iaiaeii??aeiee oa?aeoa? ye ca neeaaeii o/aniee?a, oae ? ca oi?iaie:
ii?yae c aeoe?yie aaeeeeo i?aei?e?inoa i?enooi? oe?ii? iaia?e
i?aei?e?inoa, ui ia ei?enoothoueny iiieoii. Aoi?eiiee ?eiie oe?iieo
iaia??a i?eaaoeciaaieo i?aei?e?inoa ia? ?yae iniaeeainoae: a?eueo
?iaeiooei ii??aiyii c a??aeiaei ia?aii ? iicaa??aeiaee, aieiaieie
ae?eiaeie iniaaie yeiai ? ?iaanoeoe?ei? eiiiai??, i?eaaoi? aai
?inoeoooe?ei? ?iaanoi?e, ye? aeoeaii inaiththoue i?aeoeeo niaeoeyoeaieo
iia?aoe?e c oe?iieie iaia?aie. Aieiaiei iicaa??aeiaei i?aai?caoe?eii
ioi?ieaiei naeoi?ii oiiaeiaiai ?eieo a Oe?a?i? ? anioe?aoe?y
«Iicaa??aeiaa oiiaeiaa oi?aiaaeueia nenoaia» (IOON), yea ?aaeueii
i?aoeth? c eeiiy 1996 ?ieo.

A ?iaio? aeaia oa?aeoa?enoeea noa’?eo?a oiiaeiaiai ?eieo oa iniaeeainoae
?o ooieoe?iioaaiiy ia oiiaeiaiio ?eieo Oe?a?ie. Cie?aia, aeey ei?aeoiiai
aeei?enoaiiy noaoenoe/ieo iaoiae?a aiae?co cai?iiiiiaaia noaia
?iciiae?eo iniiaieo oa ?io?ano?oeoo?ieo o/aniee?a oa ?o ooieoe?e, ii
ie?aieo iaeii??aeieo a?oiao. Oea aeicaieeei, iai?eeeaae, c?iaeoe
aeniiaie i?i aeii?ioth/a iieiaeaiiy Oaaeeoey 1

No?oeoo?a aa?oino? aeiouaieo oe?iieo iaia??a o 1994 — 1997 ?.?.

Aeae oe?iiiai
1994199519961997iaia?oiei.a?i%iei.a?i%iei.a?i%iei.a?i.%Aeoe??64,721,4776
,445,22818,259,68924,366,7Iae?aaoe??0,50,20,80,14,40,116,00,1Iuaaei?
na?-oeo?eaoe163,854,2622,736,3474,410,0851,96,4Aaenae?42,814,253,53,1891
,518,92948,022,0?io?30,310,0262,815,3539,411,4641,54,8Anueiai302,1100,01
716,2100,04727,9100,013381,7100,0

wmetafile8? ??3/4 ?????????? ???????yyy????????????
?!???

???/???????????????????????????????AAA?*Y/?iO

ia oe?a?inueeiio oiiaeiaiio ?eieo ?inoeoooe?eieo o/aniee?a, aieiaiith
iaoith ae?yeueiino? yeeo ? niaeoeyoe?y oe?iieie iaia?aie, a ia
?iaanoeoe??.

?icae?e 2. «Iaoiaee noaoenoe/iiai aeine?aeaeaiiy oiiaeiaiai ?eieo
Oe?a?ie» aeeth/a? o?e i?ae?icae?ee.

A ?icae?e? cai?iiiiiaaia oaea noaia aiae?co ?eieo oe?iieo iaia??a ye
oe?e?nii? a?aee?eoi? oa i?ici?i? nenoaie:

1. Aea/aiiy noaio oa ?icaeoeo ai?oaio?a.

2. Aea/aiiy oa aiae?c no?oeoo?e oe?iieo iaia??a, ui aeiouai? oa
ciaoiaeyoueny a ia?ao.

3. Aiae?c iiieoo oa i?iiiceoe?? ia oe?ii? iaia?e.

4. Aiae?c eo?n?a oe?iieo iaia??a, a oaeiae ?o oe?ie i?ae aieeaii
iniiaieo oaeoi??a.

5. Aiae?c eii’thieoo?e ?eieo oe?iieo iaia??a o aca?iica’yceo c
aeiiii?/iei ?icaeoeii Oe?a?ie.

6. Aiae?c i?eaaoecaoe?eieo i?ioean?a.

7. Aiae?c ae?yeueiino? eiia?oe?eieo aaie?a ia ?eieo oe?iieo iaia??a.

8. Aea/aiiy i?ioean?a, ui a?aeaoaathoueny ia a??aeiaiio oa
iicaa??aeiaiio ?eieao.

Anaa?/iee aiae?c ?eieo oe?iieo iaia??a ia?aaeaa/a? aeei?enoaiiy nenoaie
noaoenoe/ieo iieaciee?a, ye? neeaaeathoueny c iecee aaniethoieo oa
a?aeiinieo iieaciee?a. Aeey caaacia/aiiy iiaeeeainoae ?? i?aeoe/iiai
aeei?enoaiiy a ?iaio?:

— aena?oeaia oa oii?yaeeiaaia nenoaia iieaciee?a oiiaeiaiai ?eieo;

— iiaeai? i?iiiceoe?? ii aeei?enoaiith eeaneo?eaoe?? ?ecee?a;

— neeaaeaii no?oeoo?o aeine?aeaeaiiy ?eceeo ? aeioiaeiino? ii?ooaey
oe?iieo iaia??a;

— noi?ioeueiaaii iai?yiee aiae?co aeiiii?/iiai oa o?iainiaiai noaio
ai?oaio?a oe?iieo iaia??a oa iiaeaia iiiaeaia nenoaia iieaciee?a, yea,
aeoiaey/e c iio?aa ei?enooaa/?a, iiaoaeiaaia ca aeaieie noaoenoe/ii? ?
aooaaeoa?nueei? ca?oiino?.

Iaa?oioiaaii, ui aiae?c noaio oa oaiaeaioe?e ?icaeoeo ?eieo oe?iieo
iaia??a iio?aao? aeei?enoaiiy a?aeiia?aeieo noaoenoe/ieo iaoiae?a,
na?aae yeeo, cie?aia, cai?iiiiiaaii aeei?enoiaoaaoe:

— a?oioaaiiy ?eie?a, aeae?a oe?iieo iaia??a oa o/aniee?a ?eieo oe?iieo
iaia??a, ui aeicaiey? i?iaiaeeoe aiae?c ni?aa?aeiioaiiue i?ae ie?aieie
naaiaioaie ?eieo;

— iaoiaee aiae?co ?eieo oe?iieo iaia??a ia iniia? eiia?iaoe?eieo
a?oioaaiue;

— ei?aeyoe?eii-?aa?an?eiee aiae?c aeey iiaeaethaaiiy aca?iica’yceo
?acoeueoao?a iia?aoe?e c oe?iieie iaia?aie c iniiaieie oaeoi?aie, ui
aieeaathoue ia ?eiie oe?iieo iaia??a;

— iaoiaee ei?ioeino?ieiaiai i?iaiicoaaiiy, ai, a?aoiaoth/e oa, ui
nioe?aeueii-aeiiii?/ia oa iie?oe/ia iieiaeaiiy a Oe?a?i? ia iiaeia
iacaaoe noaa?eueiei, oi ?iaeoe na?aaeiuei- oa aeiaaino?ieia? i?iaiice a
no/anieo oiiaao ia aeioe?eueii;

— iaoiae i?ae?aa?iiaeueieo ii??aiyiue aeey aiae?co i?iii?oe?eiino?
?iciiae?eo iia?aoe?e c oe?iieie iaia?aie.

?icae?e 3. «Noaoenoe/iee aiae?c oiiaeiaiai ?eieo a oiiaao ?eieiai?
o?ainoi?iaoe?? a Oe?a?i?» i?noeoue /ioe?e i?ae?icae?ee.

O ?icae?e? noi?ioeueiaaii ?ene, ye? ni?eeiyea oe?a?inueea iiaeaeue
oiiaeiaiai ?eieo, a oaeiae aecia/aii iniaeeaino? i?eoaiaii? eeoa oe?e
iiaeae?.

Oaeiae i?iaaaeaii aiae?c i?eaaoecaoe?eieo i?ioean?a, ye iaeiiai c
aieiaieo oaeoi??a ?icaeoeo ?eieo oe?iieo iaia??a a Oe?a?i?.Cacia/aii, ui
ianaeaiiy ia i?eeia? aeoeaii? o/ano? o i?eaaoecaoe??: ca aeaieie
Iuaaeaaieo, eeoa 86 % a?iiaaeyi Oe?a?ie io?eiaee nai? i?eaaoecaoe?ei?
iaeiia? na?oeo?eaoe aai a?aee?eee i?eaaoecaoe?ei? ?aooiee, aea ia an?
i?eaaoecaoe?ei? iaia?e aeeaaeai?. Na?aae ia’?eo?a, ye? ?aoi?ioaaee
aeani?noue a 1996 ?. oa 1997 ?., ye a oe?eiio ii Oe?a?i?, oae ? ii
?aa?iiao, iaea?eueoo ieoiio aaao iathoue ia’?eoe a?oie A (oaae.2),
na?aae oi?i aeaniino? ia?aaaaea? eieaeoeaia, na?aae niinia?a
i?eaaoecaoe?? — aeeoi oiaa?enoaii iieoioe?a oa i?iaeaae aeoe?e
a?aee?eoeo aeoe?iia?ieo oiaa?enoa.

Oaeiae aecia/aii, ui aeoeaieie o/anieeaie ia ?eieo oe?iieo ? eiia?oe?ei?
aaiee, ye? ca?aeii aei Caeiio Oe?a?ie «I?i oe?ii? iaia?e ? oiiaeiao
a??aeo» iiaeooue cae?enithaaoe ae?yeuei?noue ii aeioneo oa ia?ao oe?iieo
iaia??a. Aecia/aii i?noea, yea caeia? ianya iia?aoe?e c oe?iieie
iaia?aie na?aae ?ioeo iai?yie?a ae?yeueiino? aaieo: iaea?eueo
aeioiaeieie iia?aoe?yie eiia?oe?eieo aaie?a Oe?a?ie ? iaaeaiiy eioo?a,
iineoa, iia?aoe?? c oe?iieie iaia?aie (?en.2). Iaa?oioiaaii iai?yiee oa
aecia/ai? iaoiaeieia?/i? i?aeoiaee i?iaaaeaiiy aiae?co Oaaeeoey 2

E?euee?noue ia’?eo?a, ye? ?aoi?ioaaee aeani?noue,

ca niiniaaie i?eaaoecaoe??

(iaeeieoeue)

19961997E?eueenouea oiio /ene? ii ia’?eoaoE?eueenouea oiio /ene? ii
ia’?eoaoia’?eo?a,a?oiea?oiea?oiia’?eo?a,a?oiea?oiea?oianueiaiAAeA,A,A,Aa
nueiaiAAeA,A,A,AE?euee?noue ia’?eo?a,
anueiai19953165623283063870071034261171a oiio /ene? oeyoii:aeeoio
oiaa?enoaii iieoioe?a87618040606613897371322162aeeoio ca aeueoa?iaoeaiei
ieaiii i?eaaoecaoe??

148

142

1

5

31

30

1aeeoio aea?aeaaiiai iaeia, caeaiiai a i?aiaeo c aeeoiii

2669

2634

6

29

846

841

2

3i?iaeaaeo ia aoeoe?ii?24732289181318761515361-i?iaeaaeo ca
iaeiia?oe?eiei eiieo?nii7597488328226715-i?iaeaaeo ca eiia?oe?eiei
eiieo?nii1727165069848145625-i?iaeaaeo aeoe?e a?aee?eoeo aeoe?iia?ieo
oiaa?enoa

3416

1059

3

2354

1287

281

1

1005

iia?aoe?e aaieo c oe?iieie iaia?aie.

I?iaaaeaii ?aa?iiaeueiee aiae?c iia?aoe?e c oe?iieie iaia?aie, a oiae?
yeiai anoaiiaeaii, ui:

1) aeiaeia c aea/a?ieo noeoiiinoae ia eiioeaio?o?oueny a iaeiiio (aai
aeae?eueeio) ?aa?iiao Oe?a?ie;

2) ia aa?o?noue ?ici?uaieo aeoe?e ?noioii aieeaa? aa?o?noue aeiouaieo
aeoe?e.

?icae?e 4. «Noaoenoeei-aeiiii?/iee aiae?c na?oeo?eaoii? i?eaaoecaoe?? a
Oe?a?i?» aeeth/a? aeaa i?ae?icae?ee.

?icae?e i?noeoue ?acoeueoaoe aiae?co i?ioeano na?oeo?eaoii?
i?eaaoecaoe?? o 1995-1997 ?ieao. I?iaaaeai? ca aeiiiiiaith noaoenoe/ieo
iaoiae?a aiae?co ?ic?aooiee iieacaee iayai?noue aieeao naciiiino? ia
i?eeiyooy ??oaiiy ?iaanoi??a i?i o/anoue a aoeoe?iiao ca i?eaaoecaoe?ei?
iaeiia? na?oeo?eaoe. Iaaaaeai? oaeoi?e, ui aieeaathoue ia aoaeoeai?noue
i?iaaaeaiiy aoeoe?ii?a (noae?noue neeaaeo th?eaee/ieo in?a, a eiaeiiio
aoeoe?ii? i?eeiathoue o/anoue ??ci? o?ce/i? iniae, «ye?noue» i?iiiio?ieo
aei i?iaeaaeo ia’?eo?a, a?aenioeo iaeaoa, ui i?iaea?oueny, aei
noaoooiiai oiiaeo). ?ic?aoiaai? iieacieee aeeiai?ee oa aa??aoe??
?eieiai? aa?oino? oe?iieo iaia??a — eai?oae?caoe?? aoeoe?ii?a.

I?ioyaii 1996-1997 ?ie?a i?iiiceoe?y uiaei e?eueeino? i?aei?e?inoa,
aeoe?? yeeo aenoaaeyeenue ia aoeoe?ii?, caeeoaeanue aeineoue
noaa?eueiith (na?aaei?e iieaciee — 352 i?aei?e?inoaa ca i?nyoeue). A oie
aea /an a?aeaoaaeiny eieeaaiiy iiieoo ia aeoe?? i?aei?e?inoa: i?eiaeie
aoeoe?iiaie a 1996 ?ioe? aoee na?iiaaee, aa?aniaaee ? aeiaoiaaee, a 1997
?ioe? — ea?oiaaee ? o?aaiaaee, ca ?aooiie c?inoaiiy aeoeaiino?
o?iainiaeo iina?aaeiee?a.

O «Aeniiaeao» ocaaaeueiai? io?eiai? ?acoeueoaoe oa noi?ioeueiaai?
iniiai? i?iiiceoe?? aeena?oaoe?eii? ?iaioe.

AENIIAEE

1. No/ania no?oeoo?a oiiaeiaiai ?eieo Oe?a?ie oa?aeoa?eco?oueny
i??i?eoaoiei ?icaeoeii aeoe?iia?iiai eai?oaeo ? aeii?ioth/ei iieiaeaiiyi
?inoeoooe?eieo ?iaanoi??a.

2. Aeine?aeaeaiiy noaio oa oaiaeaioe?e ?icaeoeo oiiaeiaiai ?eieo
i?iiiio?oueny i?iaiaeeoe ca iai?yieai: aea/aiiy noaio oa ?icaeoeo
ai?oaio?a; aea/aiiy oa aiae?c no?oeoo?e oe?iieo iaia??a, ui aeiouai? oa
ciaoiaeyoueny a ia?ao; aiae?c iiieoo oa i?iiiceoe?? ia oe?ii? iaia?e;
aiae?c eo?n?a oe?iieo iaia??a, a oaeiae ?o oe?ie i?ae aieeaii iecee
oaeoi??a; aiae?c eii’thieoo?e ?eieo oe?iieo iaia??a o aca?iica’yceo c
aeiiii?/iei ?icaeoeii Oe?a?ie; aiae?c i?eaaoecaoe?eieo i?ioean?a; aiae?c
ae?yeueiino? eiia?oe?eieo aaie?a ia ?eieo oe?iieo iaia??a; aea/aiiy
i?ioean?a, ui a?aeaoaathoueny ia a??aeiaiio oa iicaa??aeiaiio ?eieao.

3. Aiae?c oiiaeiaiai ?eieo iio?aao? aeei?enoaiiy noaoenoe/ieo iaoiae?a,
na?aae yeeo, cie?aia, cai?iiiiiaaii: a?oioaaiiy ?eie?a, aeae?a oe?iieo
iaia??a oa o/aniee?a ?eieo oe?iieo iaia??a; iaoiaee aiae?co ?eieo
oe?iieo iaia??a ia iniia? eiia?iaoe?eieo a?oioaaiue;
ei?aeyoe?eii-?aa?an?eiee aiae?c aeey iiaeaethaaiiy aca?iica’yceo
?acoeueoao?a iia?aoe?e c oe?iieie iaia?aie c iniiaieie oaeoi?aie, ui
aieeaathoue ia ?eiie oe?iieo iaia??a; iaoiaee ei?ioeino?ieiaiai
i?iaiicoaaiiy; iaoiae i?ae?aa?iiaeueieo ii??aiyiue aeey aiae?co
i?iii?oe?eiino? ?iciiae?eo iia?aoe?e c oe?iieie iaia?aie.

4. I?ioean noaiiaeaiiy ? ?icaeoeo oiiaeiaiai ?eieo a Oe?a?i? o?nii
iia’ycaiee c i?ioeanaie i?eaaoecaoe??, ye? ni?eythoue noai?aiith
aeoe?iia?ieo oiaa?enoa, a oaeiae ?icaeoeo oiiaeiaiai ?eieo.

5. A oiiaao aeiiii?/ii? e?ece, yea i?ecaaea aei noaaiaoe?? oiiaeiaiai
?eieo a Oe?a?i?, /a?ac oeaio?e na?oeo?eaoii? i?eaaoecaoe?? iaea?eueo
aoaeoeaii a?aeaoaa?oueny ?iciiae?e oe?iieo iaia??a i?eaaoeciaaieo
i?aei?e?inoa, ine?eueee i?eaeaaiiy ia’?eo?a i?ioiaeeoue ia eiieo?nieo
canaaeao.

IOAE?EAOe?? C OAIE AeENA?OAOe??

1) *a?aiia N.I. Iniaeeaino? noaiiaeaiiy ? caaaeaiiy noaoenoeee ?eieo
oe?iieo iaia??a a Oe?a?i? // I?eaei?i?ianueeee iaoeiaee a?niee.- 1997.-
?10 (21).- n.1-4.

2) *a?aiia N.I. Oaiaeaioe?? ?icaeoeo oiiaeiaeo a??ae a Oe?a?i? //
Aeiiii?ea oa i?aei?e?iieoeoai: Ca??iee iaoeiaeo i?aoeue iieiaeeo a/aieo
oa ani??aio?a. Aei.1.- E.: EIAO, 1997.- n.235-238.

3) *a?aiia N.I. Iniiae iaoiaee/iiai caaacia/aiiy aiae?co ?eieo oe?iieo
iaia??a // I?eaei?i?ianueeee iaoeiaee a?niee.- 1997.- ?41 (52).-
n.25-28.

Aiioaoe?y

*a?aiia N.I. Aiae?c noaiiaeaiiy oiiaeiaiai ?eieo a oiiaao
i?eaaoecaoe??.- ?oeiien.

Aeena?oaoe?y ia caeiaoooy iaoeiaiai nooiaiy eaiaeeaeaoa aeiiii?/ieo iaoe
ca niaoe?aeuei?noth 08.03.01 — «Noaoenoeea». — Ee?anueeee iaoe?iiaeueiee
aeiiii?/iee oi?aa?neoao. I?i?noa?noai ina?oe Oe?a?ie, Ee?a, 1999.

Aeena?oaoe?th i?enay/aii ieoaiiyi aiae?co noaiiaeaiiy oiiaeiaiai ?eieo a
oiiaao i?eaaoecaoe??. A ?iaio? aecia/aii iniaeeaino?, i?eoaiaii?
no?oeoo?? oiiaeiaiai ?eieo Oe?a?ie. Noi?ioeueiaaii iniiai? iai?yiee
noaoenoe/iiai aiae?co oiiaeiaiai ?eieo a Oe?a?i?. Ocaaaeueiaia ?
iiiaeaia nenoaia iieaciee?a, ui oa?aeoa?ecothoue aeaiee ?eiie.
?ic?iaeai? iaoiaee/i? iieiaeaiiy aiae?co oiiaeiaiai ?eieo a Oe?a?i?.
Iienaia iiaeaeue oiiaeiaiai ?eieo Oe?a?ie, a oaeiae aecia/aii
iniaeeaino?, ye? i?eoaiaii? eeoa oe?e iiaeae?. Aeaia oa?aeoa?enoeea
i?eaaoecaoe?eieo i?ioean?a ye oaeoi?o ?icaeoeo oiiaeiaiai ?eieo Oe?a?ie.
I?iaaaeaii ?aa?iiaeueiee aiae?c iia?aoe?e c oe?iieie iaia?aie oa
noaoenoeei-aeiiii?/iee aiae?c na?oeo?eaoii? i?eaaoecaoe?? a Oe?a?i?.

Eeth/ia? neiaa: oiiaeiaee ?eiie, ?eiie oe?iieo iaia??a, oe?ii? iaia?e,
ia?aeiiee ?eiie oe?iieo iaia??a, aoi?eiiee ?eiie oe?iieo iaia??a,
iniiai? o/anieee oiiaeiaiai ?eieo, ?io?ano?oeoo?i? o/anieee oiiaeiaiai
?eieo, ?inoeoooe?ei? o/anieee oiiaeiaiai ?eieo, i?eaaoecaoe?y,
na?oeo?eaoia i?eaaoecaoe?y.

*a?aiia N.I. Aiaeec noaiiaeaiey oiiaeiaiai ?uiea a oneiaeyo
i?eaaoecaoeee.- ?oeiienue.

Aeenna?oaoeey ia nieneaiea o/aiie noaiaie eaiaeeaeaoa yeiiiie/aneeo iaoe
ii niaoeeaeueiinoe 08.03.01 — «Noaoenoeea». — Eeaaneee iaoeeiiaeueiue
yeiiiie/aneee oieaa?neoao. Ieienoa?noai ia?aciaaiey Oe?aeiu, Eeaa, 1999.

Aeenna?oaoeey iinayuaia aii?inai aiaeeca noaiiaeaiey oiiaeiaiai ?uiea a
oneiaeyo i?eaaoecaoeee. A ?aaioa enneaaeiaaii iauoth eeanneoeeaoeeth
aeaeia oeaiiuo aoiaa, eioi?ua iaoiaeyoueny a ia?auaiee eae ca a?aieoeae,
oae e a Oe?aeia; auyaeaii, /oi iaeaieaa ?ani?ino?aiaiiui aeaeii oeaiiuo
aoiaa a Oe?aeia yaeythony aeoeee, i?ineaaeeaaaony oaiaeaioeey e
oaaee/aieth iauaiia yiennee i?iiuoeaiiuie i?aaei?eyoeyie e oiaiueoaiea
iauaiia yiennee aaieianeeie no?oeoo?aie. Aeaia oa?aeoa?enoeea noauaeoia
oiiaeiaiai ?uiea e iniaaiiinoae eo ooieoeeiie?iaaiey ia oiiaeiaii ?uiea
Oe?aeiu; a /anoiinoe, aeey ei??aeoiiai eniieueciaaiey noaoenoe/aneeo
iaoiaeia aiaeeca i?aaeeiaeaia noaia ?ani?aaeaeaiey iniiaiuo e
eio?ano?oeoo?iuo o/anoieeia e eo ooieoeee ia ioaeaeueiua iaeii?iaeiua
a?oiiu.

Noi?ioee?iaaii iniiaiua iai?aaeaiey noaoenoe/aneiai aiaeeca oiiaeiaiai
?uiea a Oe?aeia eae oeaeinoiie, ioe?uoie e i?ic?a/iie nenoaiu: eco/aiea
ninoiyiey e ?acaeoey yieoaioia; eco/aiea e aiaeec no?oeoo?u oeaiiuo
aoiaa, eioi?ua auiouaiu e iaoiaeyony a ia?auaiee; aiaeec ni?ina e
i?aaeeiaeaiey ia oeaiiua aoiaae; aiaeec eiiuthieoo?u oiiaeiaiai ?uiea ai
acaeiinayce n yeiiiie/aneei ?acaeoeai Oe?aeiu; aiaeec i?eaaoecaoeeiiiuo
i?ioeania; aiaeec aeayoaeueiinoe eiiia?/aneeo aaieia; eco/aiea
i?ioeannia, eioi?ua i?ienoiaeyo ia ae?aeaaii e aiaae?aeaaii ?uieao.

Iaiauaia e iaiiaeaia nenoaia iieacaoaeae, oa?aeoa?ecothuay oiiaeiaue
?uiie, a oaeaea nenoaia iieacaoaeae aeey aiaeeca yeiiiie/aneiai e
oeiainiaiai ninoiyiey yieoaioia, iino?iaiiay ii aeaiiui noaoenoe/aneie e
aooaaeoa?neie io/aoiinoe.

I?aaeeiaeaii eniieueciaaoue oaeea noaoenoe/aneea iaoiaeu, i?e iiiiue
eioi?uo iiaeii oa?aeoa?eciaaoue oiiaeiaue ?uiie Oe?aeiu, auyaeoue
oaiaeaioeee aai ?acaeoey e oaeoi?u, aeeythuea ia iaai: ?ani?aaeaeaiey
?uieia, aeaeia oeaiiuo aoiaa e o/anoieeia oiiaeiaiai ?uiea; iaoiaeu
aiaeeca oiiaeiaiai ?uiea ia iniiaa eiiaeiaoeeiiiuo a?oiie?iaie;
ei??aeyoeeiiii-?aa?anneiiiue aiaeec aeey iiaeaee?iaaiey acaeiinayce
?acoeueoaoia iia?aoeee n oeaiiuie aoiaaaie n iniiaiuie oaeoi?aie,
aeeythueie ia oiiaeiaue ?uiie; iaoiaeu e?aoein?i/iiai i?iaiice?iaaiey;
iaoiae iaae?aaeiiaeueiuo n?aaiaiee aeey aiaeeca i?iii?oeeiiaeueiinoe
?ani?aaeaeaiey iia?aoeee n oeaiiuie aoiaaaie.

A ?aaioa aeaia oa?aeoa?enoeea i?eaaoecaoeeiiiuo i?ioeania eae oaeoi?a
?acaeoey oiiaeiaiai ?uiea a Oe?aeia; auyaeaii, /oi n?aaee iauaeoia,
eioi?ua ?aoi?ie?iaaee nianoaaiiinoue a 1996-1997 a.a. iaeaieueoee
oaeaeueiue aan caieiatho iauaeou a?oiiu A, n?aaee oi?i nianoaaiiinoe
i?aiaeaaeaao eieeaeoeaiay.

I?iaaaeaii aiaeec iia?aoeee eiiia?/aneeo aaieia ia oiiaeiaii ?uiea, a
oiaea eioi?iai ii?aaeaeaii ianoi, eioi?ia caieiaao iauai iia?aoeee n
oeaiiuie aoiaaaie n?aaee ae?oaeo iai?aaeaiee aeayoaeueiinoe aaieia, a
oaeaea onoaiiaeaii, /oi eiiia?/aneea aaiee ioaeatho i?aaeii/oaiea
iia?aoeeyi n iaeeaaoeeyie aioo?aiiaai ainoaea?noaaiiiai caeia.

?aaeiiaeueiue aiaeec iia?aoeee n oeaiiuie aoiaaaie iieacae acaeiinaycue
iaaeaeo noieiinoueth ?aciauaiiuo e auiouaiiuo aeoeee, a oaeaea
iaiaeii?iaeiinoue eco/aaiuo niaieoiiinoae.

Noaoenoeei-yeiiiie/aneee aiaeec na?oeoeeaoiie i?eaaoecaoeee a Oe?aeia a
1995-1997 aiaeao i?iaeaiiino?e?iaae iaee/ea aeeyiey naciiiinoe ia
i?eiyoea ?aoaiey eiaanoi?ia ia o/anoee a aoeoeeiiao ca i?eaaoecaoeeiiiua
eiouanoaaiiua na?oeoeeaou, oeacaiu oaeoi?u, eioi?ua aeeytho ia
i?iaaaeaiea aoeoeeiiia, ?ann/eoaiu iieacaoaee aeeiaieee e aa?eaoeee
?uii/iie noieiinoe oeaiiuo aoiaa — eaieoaeecaoeee aoeoeeiiia.

Eeth/aaua neiaa: oiiaeiaue ?uiie, ?uiie oeaiiuo aoiaa, oeaiiua aoiaae,
ia?ae/iue ?uiie oeaiiuo aoiaa, aoi?e/iue ?uiie oeaiiuo aoiaa, iniiaiua
o/anoieee oiiaeiaiai ?uiea, eio?ano?oeoo?iua o/anoieee oiiaeiaiai ?uiea,
einoeoooeeiiaeueiua o/anoieee oiiaeiaiai ?uiea, i?eaaoecaoeey,
na?oeoeeaoiay i?eaaoecaoeey.

Chervona S.P. Analyses of stock market formation during privatization. —
Manuscript.

Dissertation for the candidate’s degree in Economics, specialty 08.03.01
— «Statistics» — Kiev National University of Economics, Ministry of
Education of Ukraine, Kiev, 1999.

The dissertation is dedicated to the issues of analyses of stock market
formation during privatization. The work involves the determination of
specific features characteristic of the structure of the stock market
of Ukraine. In the paper there formulated the main directions for
statistical analyses of stock market of Ukraine. There generalized and
renewed the system of indicators characterizing the market. A method for
the analysis of the stock market of Ukraine has been devekoped. There
described Ukraine’s stock market model and stated the specifics and
features characteristic of this model. There provided the
characteristics of privatization process as a Ukrainian stock market
development factor. There performed regional analyses of security
operations and statistical and economic analyses of certificate-based
privatization in Ukraine.

Key words: stock market, security market, securities, primary market of
securities, secondary market of securities, main participants,
infrastructural participants of stock market, institutional
participants of stock market, privatization, certificate-based
privatization.

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