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Иностранные инвестиции в Сибири

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35

Eiaanoeoeee

Ii i?aaeiaoo Oeiainu i?aaei?eyoee

Auiieieea: Ei?ieaaa Niiy a?.O-94-1

I?iaa?ee: Athoeaa A.A.

1997a

Ieai.

Aaaaeaiea.

1. Iaaeaeoia?iaeiue iiuo i?eaea/aiey eiino?aiiuo eiaanoeoeee.

2. Eiino?aiiua eiaanoeoeee: eo ianoi e ?ieue a yeiiiieea ?innee.

2.1 Iaiaoiaeeiinoue i?eaea/aiey eiino?aiiuo eiaanoeoeee.

2.2. I?eoie eiino?aiiiai eaieoaea: ninoiyiea e oaiaeaioeee.

2.3.?acaeoea ?aaeiiaeueiuo ?uieia eiino?aiiuo eiaanoeoeee .

2.3.1 Eiino?aiiua eiaanoeoeee a Neae?e.

3. Ia?u ii i?eaea/aieth eiino?aiiuo eiaanoeoeee.

Caeeth/aiea.

Nienie eniieueciaaiiie eeoa?aoo?u.

Aaaaeaiea.

Eniieueciaaiea eiino?aiiuo ?ano?nia aeey ?acaeoey iaoeeiiaeueiiai
oicyenoaa noaiiaeony ana aieaa aaaeiie oa?aeoa?enoeeie nia?aiaiiie
yiioe. Iniaaiii aieueoie ?aciao yoio i?ioeann iieo/aao a oiaea
eioa?iaoeeiiaeecaoeee e aeiaaeecaoeee i?iecaiaenoaa e yeiiiie/aneiai
iaiaia iaaeaeo ainoaea?noaaie. Anee ia?aoeoueny e enoi?ee, oi e
“yeiiiie/aneia /oaei”, neo/eaoaany n iineaaiaiiie Aa?iaieae, e
aeenoaoaeueiia ainnoaiiaeaiea oicyenoaa ssiiieae, e no?aieoaeueiue
auoiae ia ie?iaoth a?aio THaeiie Ei?ae iaoneiaeaiu ai iiiaii
i?eaea/aieai eiino?aiiiai eaieoaea. Iinoaiaiii a i?ioeann i?eaea/aiey
eiino?aiiuo eiaanoeoeee aeeth/aaony e ?aoi?ie?othuayny yeiiiieea ?innee.
Aeaeaeoueie iioeaaie yaeythony eae ?anoouea iauaiu iaaeainoaea?noaaiiuo
ia?aiauaiee eaieoaea, oae e ino?ay iio?aaiinoue no?aiu a iiaeeecaoeee
aaethoiuo ?ano?nia ec-ca ?oaaaea aeey oeo/oaiey ieaoaaeiiai aaeaina e
i?aiaeieaiey eiaanoeoeeiiiiai niaaea.

A ianoiyuaa a?aiy nianoaaiiua aiciiaeiinoe iaeiieaiee ?inneeneeo
i?aaei?eyoee ca n/ao i?eauee e aii?oecaoeee ia?aie/aiu e ia iiaoo
oaeiaeaoai?eoue iieiinoueth ni?in ia eiaanoeoeee.

?inneeneee aaieianeee eaieoae i?aaeii/eoaao oeiaine?iaaoue io?anee n
aunieie nei?inoueth iai?ioa eaieoaea. E?iia oiai, aaieianeee e?aaeeo
yaeyaony, eae i?aaeei, e?aoein?i/iui e aei?iainoiyuei.

Enoi/ieeii iaeiieaiee iiaoo auoue oaeaea e?aaeeou eiino?aiiuo
ainoaea?noa, a oaeaea iaaeaeoia?iaeiuo e?aaeeoii- oeiainiauo
i?aaiecaoeee. Ii oaeea e?aaeeou iaeiaeinooiiu i?aaei?eyoeyi io?aneae
iaoa?eaeueiiai i?iecaiaenoaa. Iie oaeaea oaaee/eaatho iaoeeiiaeueiue
aeiea, iaino?ytho aeaoeoeeo ainoaea?noaaiiiai athaeaeaoa, o?aaotho
ii?aaeaeaiiuo aa?aioee.

A yoeo oneiaeyo iaiaoiaeeii eniieueciaaoue oaeie enoi/iee iaeiieaiee,
eae eiino?aiiua eiaanoeoeee, eioi?ua oaea aeaaii noaee caeiiiia?iinoueth
ie?iaiai oicyenoaa e aeoeaii eniieuecothony iiiaeie ainoaea?noaaie aeey
?acaeoey iaoeeiiaeueiuo yeiiiiee.

1. Iaaeaeoia?iaeiue iiuo i?eaea/aiey eiino?aiiuo eiaanoeoeee.

Aeaa aii?ina: iniaaiiinoe aeaeaeaiey iaaeaeoia?iaeiiai eaieoaea ec
i?iiuoeaiii ?acaeouo ainoaea?noa a ?acaeaathueany no?aiu, e aiaeec
iieeoeee ioaeaeueiuo no?ai ii i?eaea/aieth eiino?aiiuo
eaieoaeiaeiaeaiee, neoaeao aacie aeey ?anniio?aiey i?iaeai, noiyueo ia
iooe i?eaea/aiey eiino?aiiuo ?ano?nia a yeiiiieeo ?innee.

Aaaeoueie ie?iauie oaiaeaioeeyie 90-o aiaeia noaee:

? – oneeeaathuayny eioaa?aoeey iaoeeiiaeueiuo, ?aaeiiaeueiuo e
aeiaaeueiuo oeiainiauo ?uieia;

? – iia?aaeathuee ?ino iia?aoeee n eaaei eeeaeaeiuie oeaiiuie aoiaaaie,
aeoeeyie, iaeeaaoeeyie e o.i.;

? – eeaa?aeecaoeey iaaeainoaea?noaaiiiai ia?aeeaa eaieoaeia;

? – ?anoouay eiieo?aioeey caaiueeia e i?eiaiaiea eie “iaeaoa” ia? ii
i?eaea/aieth eiaanoi?ia.

Niaieoiiia aeaenoaea yoeo oaiaeaioeee aianei aaniiue aeeaae a ?ino
iauaia o?aina?aie/iuo eiaanoeoeee. Ii aeaiiui Bank for International
Sattlement, aaeiaie iooie eaieoaea ec ?acaeouo no?ai ( a ae?oaea-
?acaeoua, ?acaeaathueany e auaoea nioeeaeenoe/aneea no?aiu) aeinoea a
1993 aiaeo 850 ie?ae.aeieea?ia ii n?aaiaieth ni n?aaeiaaiaeiaui iauaiii
a 1985- 93 aiaeao a 500 ie?ae. e a ia?aie iieiaeia 80-o aiaeia – 100
ie?ae. Aeieea?ia. [5]

Таблица 1.1. Чистый приток долговременных ресурсов в развивающиеся
страны.

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AAA????AAA????????????u??????AAA????-?????????????
U???u?????????????-?
???!????U???????-????????????????-?
???!???????????ue??yyy??????-????’yy???

????-?????AAA????
AAA????Uyyyy???????????-??????????U???-?
???!????U?????-????$?????$?U???-?
???!????U$?????-????5?????5?U???-?
???!????U5?????-????F?????F?U???-?
???!????UF?????-????W?????W?U???-?
???!????UW?????-????h?????h?U???-?
???!????Uh?????-????z?????z?U???-?
???!????Uz?????-????‹?????‹?U???-?
???!????U‹?????-????????????U???-?
???!????U??????-??????????U???-?
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???!????U3/4?????-????I?????I?U???-?
???!????UI?????-????a?????a?U???-?
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???!?????U???ue??AAA??????-???????? ???!??????
???!????A??U ???!????A??Y ???!????A??U ???!????A?$?U
???!????A?$?Y ???!????A?$?U ???!????A?5?U ???!????A?5?Y
???!???F?A?F?U ???!???F?A?F?Y ???!????A?z?U ???!???y?A?‹?U
???!???y?A?‹?Y ???!????? ???!????A?U
???!????A?Y???ue??????yy???-?????????
???????yyy?????????u?????????????-????5?????5?????-
? ???!????—5?????-????5?????5?O???-?
???!????>?5?????-????5?U???5????-?
???!????>?5?U???-????5????5?X???-?
???!????>?5????-????5?Z???5?????-?
???!????>?5?Z???-????F?????F?????-?
???!????—F?????-????F?????F?O???-?
???!????>?F?????-????F?U???F????-?
???!????>?F?U???-????F????F?X???-?
???!????>?F????-????F?Z???F?????-?
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???!????>?W?????-????W?U???W????-?
???!????>?W?U???-????W????W?X???-?
???!????>?W????-????W?Z???W?????-?
???!????>?W?Z???-????h?????h?????-?
???!????—h?????-????h?????h?O???-?
???!????>?h?????-????h?U???h????-?
???!????>?h?U???-????h????h?X???-?
???!????>?h????-????h?Z???h?????-?
???!????>?h?Z???-????‹?????‹?????-?
???!????—‹?????-????‹?????‹?O???-?
???!????>?‹?????-????‹?U???‹????-?
???!????>?‹?U???-????‹????‹?X???-?
???!????>?‹????-????‹?Z???‹?????-?
???!????>?‹?Z???-????????????????-?
???!????—??????-????????????O???-?
???!????>???????-??????U????????-?
???!????>???U???-???????????X???-?
???!????>??????-??????Z?????????-?
???!????>???Z???-??????????????-?
???!????—?????-??????????O???-?
???!????>??????-?????U???????-?
???!????>??U???-?????????X???-?
???!????>?????-?????Z????????-?
???!????>??Z???-????3/4?????3/4?????-?
???!????—3/4?????-????3/4?????3/4?O???-?
???!????>?3/4?????-????3/4?U???3/4????-?
???!????>?3/4?U???-????3/4????3/4?X???-?
???!????>?3/4????-????3/4?Z???3/4?????-?
???!????>?3/4?Z???-????I?????I?????-?
???!????—I?????-????I?????I?O???-?
???!????>?I?????-????I?U???I????-?
???!????>?I?U???-????I????I?X???-?
???!????>?I????-????I?Z???I?????-?
???!????>?I?Z???-????a?????a?????-?
???!????—a?????-????a?????a?O???-?
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???!????>?a????-????a?Z???a?????-?
???!????>?a?Z???-????n?????n?????-?
???!????—n?????-????n?????n?O???-?
???!????>?n?????-????n?U???n????-?
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???!????>?n????-????n?Z???n?????-? ???!????>?n?Z
???!????yyyy ???!?????? ???!?????O ???!?????
???!?????X ???!?????? ???!?????O ???!????Uyy?
???!????U?? ???!????U#?????-????5?????5?O???-?
???!????>?5?????-????F?????F?O???-?
???!????>?F?????-????W?????W?O???-?
???!????>?W?????-????h?????h?O???-? ???!????>?h??
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???!????>?a?????-????n?????n?O???-? ???!????>?n??
???!????U? ???!????U????-????’yy???

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???????Uyyyy???uoy??????1/4???I????Arial
Cyr?d????-????-????u??????1/4????”System????-????’yy
???

????-????-????yyy???? ???????U?????uoy??????

Aiaeec a ?aaeiiaeueiii e no?aiiaii ?ac?acao iicaieyao auaeaeeoue
iaeioi?ua aioo?aiiea i?aaeii/oaiey n oi/ee c?aiey eiino?aiiiai eaieoaea.
Yoi i?aaeaea anaai ?aoeeiiaeueiay iae?iyeiiiie/aneay iieeoeea e iaee/ea
iaaeaeoia?iaeii i?eciaiiie i?ia?aiiu yeiiiie/aneie ?aoi?iu e/ eee
noaaeeecaoeee, aunieee e?aaeeoiue ?aeoeia, i?eaueueiinoue
eiaanoe?iaaiiiai eaieoaea a aeieaia?aiaiiii ieaia, o?iaaiue aiaoiae
caaeieaeaiiinoe. N?aaee aiaoieo, iacaaeneiuo io i?eieiathuae noi?iiu
oaeoi?ia, iaeaieueoaa aeeyiea ia ?ino i?eoiea eaieoaea ieacuaatho
nieaeaiea i?ioeaioiuo noaaie ia iaaeaeoia?iaeiuo ?uieao e niaae aeaeiaie
aeoeaiinoe a ?acaeouo ainoaea?noaao. Iaa yoe oaeoi?a aeaenoaotho
oeeeee/ii, a oi a?aiy eae aioo?aiiea noeioeyoi?u yaeythony i?iaeoeoii
yeiiiie/aneie iieeoeee no?aiu- eiii?oa?a eaieoaea e aeieaeiu
aace?iaaoueny ia aeieaia?aiaiiie iniiaa.

Iacaaiiua e?eoa?ee eiatho ia?ainoaiaiiia cia/aiea, oae eae, niaeanii
iaeioi?ui yiie?e/aneei ?an/aoai, iie aeiieie?otho i?e i?eiyoee ?aoaiee
eiaanoi?aie ii ioiioaieth e no?aiai THai- Ainoi/iie Acee; a Eaoeineie
Aia?eea iie ii?aaeaeeee ii?yaeea 50 i?ioeaioia anao ?aoaiee ia
eiaanoeoeeyo.

A 90- a aiaeu i?eia?aee aieaa eee iaiaa /aoeea i/a?oaiey oaiaeaioeee
aeaeaeaiey iioieia eaieoaea ec ?acaeouo no?ai a ?acaeaathueany, a oaeaea
eo ninoaa:

1. ?aaeiiaeueiua iauaaeeiaiey niinianoaotho “i?eoyaeaieth” eaieoaea.

Niaeaoaiea i Naaa?iaia?eeaineie ciia naiaiaeiie oi?aiaee (IAOOA) oneeeei
eae oi?aiaua ioiioaiey Iaeneee n NOA, oae e ea?aei aeaeaei ia
iineaaeithth ?ieue a i?aaeinoaaeaiee aeaaioneie oeiainiaie iiiiue
i?aaeoaeuenoaii NOA a aeiiieiaiea e ?aei?aeiiio ?aca?aiiio e?aaeeoo IAO.

*enei naiaiaeiuo yeiiiie/aneeo cii a Eaoeineie Aia?eea i?aauneei 80.
Iniai aaaeioth ?ieue iie ea?atho a ?yaea oeaio?aeueii-aia?eeaineeo
no?ai, a /anoiinoe Iaeneee, /oi iaoneiaeaii a ia?aoth i/a?aaeue
iieiaeaieyie oaiiaeaiiiai caeiiiaeaoaeuenoaa NOA, ii eioi?ui eiii?oiay
iioeeia i?e ia?aaioea e nai?ea aia?eeaineeo eiiiiiaioia i?iecaiaenoaa
acuiaaony eeoue n aeiaaaeaiiie ca ?oaaaeii noieiinoe.

AN iiaeaea?aeeaaao a ea/anoaa iiiiue ?acaeoeth iinoiyiiue iioie ?ano?nia
a ?aieao Eiiaeneeo eiiaaioeee. A niaaoneia a?aiy iiaeiaiay oaiaeaioeey
eiaea ianoi e a NYA. Ii iauaio iauaio i?eoiea /anoiiai eaieoaea ca 1989-
1993 aiaeu a ?aaeiiaeueiii ?ac?aca eeaee?iaae Aceaonei- Oeoiieaaineee
?aaeii (AO?)- 40 %, Eaoeineay Aia?eea e Ea?eaneee aannaei- 30, Aa?iia e
Oeaio?aeueiay Acey- 22, inoaeueiua ?aeiiu- 8 %.

2. Auniea noaiaiue no?aiiaie eiioeaio?aoeee, iniaaiii a iioieao
/anoiiai eaieoaea.

Таблица 1.2 Объем иностранных инвестиций некоторых стран с переходной
экономикой (в долларах).

wmetafile8? ??. ???%????????
???????yyy????????????e?O????

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????yyy???? ???????’yy???

????yyy???? ???????e?O????????ue??AAA?AA???-?????
AAA????AAA????????????u??????AAA????-?????????????
O????u?????????????-?
???!????O????????-???????????e??????-?
???!???e?????????ue??yyy??????-????’yy???

????-?????AAA????
AAA????i?O?yyyy???????????-??????????O????-?
???!????O??????-????$?????$?O????-?
???!????O?$?????-????6?????6?O????-?
???!????O?6?????-????H?????H?O????-?
???!????O?H?????-????Z?????Z?O????-?
???!????O?Z?????-????l?????l?O????-?
???!????O?l?????-????~?????~?O????-?
???!????O?~?????-????

A 1993 aiaeo i?eoie eiino?aiiuo ?ano?nia a 12 ?acaeaathueony no?aiao
i?aaunee 10 ie?ae. aeieea?ia a eaaeaeoth, e ia ieo i?eoiaeeeinue 78 %
anaai i?eoiea /anoiiai eaieoaea. Ii aaniethoiui iieacaoaeyi iieo/aiiuo
?ano?nia eeaee?otho Eeoae e Iaeneea, a a ?an/aoa ia aeooo ianaeaiey
(1989- 1993)- Aaia?ey e Iaeaecey.

Aunieea i?iecaiaenoaaiiua ecaea?aeee ia ?iaeeia canoaaeytho e?oiiua
eiioea?iu ia?aiineoue naia i?iecaiaenoai a no?aiu n aeaoaaie ?aai/ae
neeie. E?iia oiai, aieueoia cia/aiea i?eia?aoaao e ae?oaie iioea aeey
eiaanoeoeee, iniaaiii a iaeanoe i?iecaiaenoaa iio?aaeoaeueneeo oiaa?ia-
aeinoaoi/ii aieee ?uiie nauoa.

Iacaaeneii io iiaoaeeoaeueiuo i?e/ei i?yiua eiaanoeoeee Caiaaea a yoe
ao?ii ?acaeaathueany no?aiu ia?anoatho. A ioee/ea io no?ai NIA, e ?innee
a /anoiinoe, yoe ainoaea?noaa n/eoathony iieeoe/anee noaaeeueiuie e
?aoi?iaoi?neeie.

3. I?iaeieaeaaony eciaiaiea niioiioaiey iaaeaeo ainoaea?noaaiiui e
/anoiui eaieoaeii a iieueco iineaaeiaai.

A 1994 aiaeo iii ninoaaeei 1:3 ii n?aaiaieth n 1,3:1 a 1990 aiaeo.
No?aiu n?aaeiaai o?iaiy ?acaeoey – aieaa iaaeaaeiua caaiueee- iieo/atho
?ano?nu, a iniiaiii, /a?ac iaaeaeoia?iaeiua ?uiee eaieoaeia, a oi a?aiy
eae iaeiaiaa ?acaeoua no?aiu- a ?aieao ainoaea?noaaiiuo i?ia?aii.
Eneeth/aiea- Eiaeey e Eeoae, i?e/ai ia aeieth iineaaeiaai a 1993 aiaeo
i?eoeinue 84 % anaai i?e?inoa i?eeeaa /anoiiai eaieoaea. A 1991 aiaeo
aeiey /anoiiai eaieoaea a iauai iauaia i?eoiea eaieoaea aia?aua
aeinoeaea 50 %, e a ianoiyuaa a?aiy ninoaaeyao 70- 75 % , i?e/ai aieaa
2/3 anao iioieia eaeoo ii noaia “/anoiue eaieoae ?acaeouo ainoaea?noa-
/anoii- i?aaei?eieiaoaeueneee naeoi? ?acaeaathueony no?ai”.

4. Iaiaoeeenue ?acee/ey iaaeaeo no?aiaie a ioiioaiee n?ieia i?eaeaeaaiuo
e?aaeeoia.

Oae, a 1991- 93 aiaeao Eeoae e ?anioaeeea Ei?ay i?eaeaeaee
i?aeiouanoaaiii aeieain?i/iua eaieoaeu (aeiey e?aoein?i/iuo eaieoaeia
ninoaaeea eeoue 15 % anae noiiu iiauo caeinoaiaaiee). Ca yoio aea
ia?eiae i?eia?ii 65 % caeinoaiaaiee Iaeneee auee e?aoein?i/iuie; a
A?aaioeia, Iaeaecee e Oaeeaiaea yoi niioiioaiea ninoaaeei i?eia?ii
50:50.

5. Iiaui yaeaieai noaei aeoeaiia o/anoea eiino?aiiiai eaieoaea a
i?eaaoecaoeee.

Oieueei a 1993 aiaeo ia yoe oeaee auei ec?anoiaeiaaii ieiei 11
ie?ae.aeieea?ia.13 Iniiaiay oi?ia- i?yiua eiino?aiiua eiaanoeoeee-
ieiei 2/3. Iaeiaei iineaaeiea 3- 4 aiaea auno?i oaaee/eaathony e
ii?ooaeueiua eiaanoeoeee a i?eaaoecaoeeth.

A 1988- 93 aiaeao 25 i?ioeaioia aeioiaeia ?acaeaathueony no?ai a
i?ioeanna i?eaaoecaoeee auee iieo/aiu ca n/ao i?eoiea eiino?aiiiai
eaieoaea, inoaeueiay /anoue auea i?aaenoaaeaia aioo?aiieie eiaanoeoeeyie
e eiiaa?neae /anoe aiaoiae caaeieaeaiiinoe a aeoeee. A iineaaeothuea
aiaeu o/anoea eiino?aiiiai eaieoaea a i?eaaoecaoeee noaei aieaa
cia/eoaeueiui.

A aieueoeinoaa no?ai iaoeeiiaeueiia caeiiiaeaoaeuenoai ii i?eaaoecaoeee
ia aeaeaao ?acee/ee iaaeaeo eiino?aiiuie e iaoeeiiaeueiuie eiiiaieyie.

A ioaeaeueiuo ainoaea?noaao (Ia?o, O?eieaeaae e Oiaaai, Yeaaaei?) ana
io?anee iaoeeiiaeueiie yeiiiieee ioe?uou aeey eiino?aiiuo eiaanoeoeee.
Iaeiaei /aua anaai aeeaiacii “cae?uouo io?aneae” i?e eo cia/eoaeueiii
nie?auaiee ana aea inoaaony aeiaieueii iaoe?iui. Iaeaieaa oeie/iuie
io?aneyie, cae?uouie aeey eiino?aiiiai eaieoaea, yaeythony n?aaenoaa
ianniaie eioi?iaoeee, aeaiaaeiay yienney, iai?iia e ainoaea?noaaiiay
aaciianiinoue, aoiiiay yia?aaoeea e ioaeaeueiua aeaeu o?ainii?oa.

I?aeoe/anee iianthaeo eiino?aiiua eiaanoi?u iieo/eee ?aaiua n ianoiuie
i?aaa ii ?aaeecaoeee aiaoiayeiiiie/aneie aeayoaeueiinoe, oioy
ioaeaeueiua ia?aie/aiey nio?aiythony: a Aaeaia i?aai ia auaic cieioa
i?aaeinoaaeyaony eiino?aiiui eiiiaieyi i?e oneiaee ?aaeecaoeee /anoe aai
ainoaea?noaaiiiio Eiieoaoo ii cieioo.

Eiino?aiiua ia?oia?u aeoeaii i?eaeaeathony aeey o/anoey a
eiioeanneiiaeueiie oi?ia i?eaaoecaoeee, eiaaea i?aaei?eyoea, oi?iaeueii
inoaaaynue a ainoaea?noaaiiie nianoaaiiinoe, ia?aoiaeeo ia aeeeoaeueiue
n?ie (aei 30 eao) a eiioeanneth /anoiuo oe?i, a ainoaea?noaaiiua i?aaiu
a oa/aiea aeaenoaey eiio?aeoa ia aiaoeaathony a ?aaioo i?aaei?eyoey.

Iaeiaei, ianiio?y ia anth i?eaeaeaoaeueiinoue o/anoey eiino?aiiuo
eiiiaiee a i?eaaoecaoeee, iiyaeeenue naaaeaiey i aiciiaeiinoe e aai
iaaeaaii?eyoiiai aicaeaenoaey aeaaea i?e iaaieueoie aaee/eia. Oae, a
?an/aoa ia aeooo ianaeaiey ?acia? eiino?aiiuo eiaanoeoeee a Iieueoa a
13 ?ac iaiueoa, /ai a Aaia?ee. Iaeiaei, Iieueoa ano?aoeeanue n
ii?aaeaeaiiuie o?oaeiinoyie. Oieaeeia AAA neoiee eiio?ieueiue iaeao
aeoeee caaiaea oo?aiaaia?aoi?ia. A ?acoeueoaoa eciaiaiey
i?iecaiaenoaaiiie i?ia?aiiu Iieueoa iioa?yea aiciiaeiinoue inouanoaeyoue
eiiieaeniua iinoaaee yia?aiiai?oaeiaaiey e no?ieoue yeaeo?inoaioeee iiae
eeth/ a ca?oaaaeiuo no?aiao, ia /ai iia ?aiueoa niaoeeaeece?iaaeanue.
Neoiea a?oiiie eiino?aiiuo oe?i i?aaei?eyoee iithueo e /enoyueo n?aaenoa
(2/3 iauaia i?iecaiaenoaa a no?aia) i?eaaea e iaaeaieth auionea i?e
?inoa eiii?oa ec iaoa?eineeo eiiiaiee.

A ?innee a nayce n ia?aoiaeii io aao/a?iie e aeaiaaeiie i?eaaoecaoeee
aii?in i i?eaea/aiee n?aaenoa ca?oaaaeiuo eiaanoi?ia noaiiaeony aieaa
aeooaeueiui. I?aaeaea anaai iaiaoiaeeii /aoeia caeiiiaeaoaeueiia
ii?aaeaeaiea a eaeeo io?aneyo e a eaeii i?ioeaioiii niioiioaiee
aiciiaeii o/anoea eiino?aiiuo i?aoaiaeaioia.

6. Nouanoaaiii iaiyaony no?oeoo?a /anoiuo eiino?aiiuo eiaanoeoeee a
?acaeaathueany no?aiu.

Таблица 1.3. Структура частных иностранных инвестиций в
предпринимательский сектор развивающихся стран (в процентах)
wmetafile8? ??>???v???????? ???????yyy????????????
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????yyy???? ???????’yy???

????yyy???? ???????‘?c???????ue??AAA?AA???-?????
AAA????AAA????????????u??????AAA????-?????????????
c???u?????????????-?
???!????c???????-???????????‘??????-?
???!???‘?????????ue??yyy??????-????’yy???

????-?????AAA????
AAA????’?dyyyy???????????-??????????c???-?
???!????b?????-????&?????&?c???-?
???!????b&?????-????7?????7?c???-?
???!????b7?????-????H?????H?c???-?
???!????bH?????-????Z?????Z?c???-?
???!????bZ?????-????l?????l?c???-?
???!????bl?????-????~?????~?c???-?
???!????b~?????-????

E?aaeeou eiiia?/aneeo aaieia au?inee a 1991-1992 aiaeao, ii a 1993 aiaeo
iioie i?eiye ia?aoiia iai?aaeaiea a nayce n ianooieaieai n?ieia
iiaaoaiey ?aiaa auaeaiiuo e?aaeeoia, eioi?ua i?aaeinoaaeyeenue, eae
i?aaeei, iiae eiie?aoiua i?iaeou no?aiai n?aaeiaai o?iaiy ?acaeoey.
?aoathuee oaeoi? i?aaeinoaaeaiey aaieianeeo e?aaeeoia e aaee/eiu
ni?yaea- e?aaeeoiue ?aeoeia no?aiu.

Ao?iue anieane ?aciauaiey iaeeaaoeee- iaeii ec iaeaieaa i?eia/aoaeueiuo
yaeaiee a i?eoiea eiino?aiiuo ?ano?nia a ?acaeaathueany no?aiu. Ia?yaeo
ni niaoeeoe/aneeie iio?aaiinoyie yoeo no?ai aeaiiia yaeaiea
i?aaenoaaeyao niaie /anoue i?ioeanna aeiaaeueiie eioaa?aoeee oeiainiauo
?uieia.

Aieueoeinoai iaeeaaoeee ?acaeaathueony no?ai (aei 80 i?ioeaioia)
aeaiiieie?iaaii a aeieea?ao, caoai neaaeotho eaiu e iaiaoeeea ia?ee.
Aaeiaie auione iaeeaaoeee iniaaiii ?acei au?in a 1993 aiaeo. E caeanue
auea aunieie eiioeaio?aoeey: ia 10 no?ai n aunieei ?aeoeiaii a 1993
aiaeo i?eoeinue 90 i?ioeaioia anao ?aciauaiiuo o?aoueei ie?ii
iaeeaaoeee.

Iniaia ianoi caieiatho o.i. eiiaa?oe?oaiua iaeeaaoeee, oneiaey eioi?uo
i?aaeoniao?eaatho i?aai eiaanoi?a i?eia?anoe ii enoa/aieth n?iea caeia
aeoeee ia noiio, ?aaioth caeio.

A oeaeii ca 1994 aiae ?acaeaathueany no?aiu ?acianoeee ia
iaaeaeoia?iaeiuo ?uieao iaeeaaoeee i?eia?ii ia 50 ie?ae. aeieea?ia.
Aaeeie/iue iauai auionea a n?aaeiai nie?aoeeny aei 150 iei. aeieea?ia, a
n?iee iiaaoaiey- aei iaiaa 5 eao. [14]

N?aaee auaoeo nioeeaeenoe/aneeo no?ai a Aa?iia iaeaieueooth aeoeaiinoue
a ?aciauaiee iaeeaaoeee i?iyaeea Aaia?ey. Ca 1993 e 8 ianyoeaa 1994
aiaea iia i?iaaea 25 auioneia iaeeaaoeee i?eia?ii ia 5,8 ie?ae.
aeieea?ia ni n?ieii iiaaoaiey io 5 aei 10 eao. A Acee iniai aeoeaai aue
Eeoae, eioi?ue ?acianoee 37 auioneia ia iauoth noiio ii?yaeea 6,3
ie?ae., aeieea?ia ia n?ie io 3 aei 10 eao. [7]

*enoua i?yiua eiino?aiiua eiaanoeoeee a ?acaeaathueany no?aiu
i?iaeieaeaee ?anoe a 1993 e aeaaea a 1994 aiaeo. Ca 1991- 1994 aiaeu ia
ieo i?eoiaeeeinue 37 i?ioeaioia anaai eo ie?iaiai iauaia. Naiui e?oiiui
iieo/aoaeai i?yiuo eiino?aiiuo eiaanoeoeee aue Eeoae. Aeiey no?ai
Oeaio?aeueiie e Ainoi/iie Aa?iiu ninoaaeea ii?yaeea 10 i?ioeaioia.

Таблица 1.4. Инвестиции в странах Восточной Европы.

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AAA????AAA????????????u??????AAA????-?????????????
[???u?????????????-?
???!????[???????-???????????‡??????-?
???!???‡?????????ue??yyy??????-????’yy???

????-?????AAA???? AAA??????yyyy???????????-????
????? ?[???-? ???!????Z
?????-????.?????.?[???-?
???!????Z.?????-????????????[???-?
???!????Z??????-????Q?????Q?[???-?
???!????ZQ?????-????b?????b?[???-?
???!????Zb?????-????t?????t?[???-?
???!????Zt?????-????†?????†?[???-?
???!????Z†?????-??????????‡??????-?
???!???†????????-?????o????‡?o????-?
???!???†???o????-?????N???‡?N???-?
???!???†???N???-?????????‡?????-?
???!???†???????-?????????‡?????-?
???!???†???????-?????Z???‡?Z???-?
???!???†???Z???ue??AAA??????-???????? ???!??? ?Z??
???!???$?Z.?? ???!????Zt?????ue??????yy???-?????????
???????yyy?????????u?????????????-????????????????-
? ???!???????????-?????o?????o????-?
???!??????o????-?????N????N???-?
???!??????N???-??????????????-?
???!??????????-??????????????-?
???!??????????-?????????????????-? ???!????

Iiaui a 90- a aiaeu yaeyaony oi, /oi ?ino i?yiuo eiino?aiiuo eiaanoeoeee
aucaai ia noieueei oeeeee/aneeie, neieueei no?oeoo?iuie oaeoi?aie. A 90-
a aiaeu oneeeeanue e oaiaeaioeey eciaiaiey iai?aaeaiey iioieia i?yiuo
eiino?aiiuo eiaanoeoeee ec aeiauaathuae e ia?aaaouaathuae
i?iiuoeaiiinoe a noa?o nia?aiaiiuo oneoa, oaeeo eae oaeaeiiioieeaoeee,
o?ainii?o, aaieianeia aeaei, i?eaaoece?oaiia eiiioiaeueiia oicyenoai.
Ana yoi aeaao iniiaaiey iieaaaoue, /oi a iaic?eiii aoaeouai iiaeii
?ann/eouaaoue ia aeaeueiaeoaa oaaee/aiea i?yiuo eiaanoeoeee, aeiey
eioi?uo a 1994 aiaeo ninoaaeea aieaa 45 i?ioeaioia anaai i?eoiea
/anoiiai eiino?aiiiai eaieoaea.

I?yiua eiino?aiiua eiaanoeoeee /aoei ?aaae?otho ia iineaaeiaaoaeueiua
yeiiiie/aneea ?aoi?iu e ?ino aeooaaiai aeioiaea a no?aiao i?eeiaeaiey,
ono?aiaiea i?aiyonoaee iaaeno?aiiaui iioieai eaieoaea, i?ia?aiiu
o?aaoee?iaaiey aiaoiaai aeieaa. E?oiiaeoei a ie?a iauaeoii i?eeiaeaiey
i?yiuo eiino?aiiuo eiaanoeoeee noae Eeoae (26 ie?ae. aeieea?ia a 1993
aiaeo e i?eia?ii oaeie aea iauai a 1994 aiaeo). I?eaeaeaoaeueiui aeey
eiino?aiiuo eiaanoi?ia auei: noaaeeueiay iieeoe/aneay e nioeeaeueiay
neooaoeey, aieee ?uiie, aunieea oaiiu yeiiiie/aneiai ?inoa, aieaa ieceay
ca?aaioiay ieaoa ii n?aaiaieth n ae?oaeie aceaoneeie no?aiaie,
eeaa?aeecaoeeiiiua ia?u ia/aea 90- o aiaeia, iiaia caeiiiaeaoaeuenoai i
iaeiaiiaeiaeaiee oeeeaeia eiino?aiiuo i?aaei?eyoee.

Iniaie oi?iie i?eaea/aiey ca?oaaaeiuo ii?ooaeueiuo eiaanoeoeee yaeyaony
auione eiiiaieyie naieo aeoeee ia ca?oaaaeiuo ae?aeao, i?aaeaea anaai
Iueth- Ei?eneie. N 1990 aiaea iniiaiie iauai aeoeee, ?aciauaaiuo ia
ca?oaaaeiuo ?uieao eaieoaea, inouanoaeyaony a aeaea ADR eee GDR
(i?eeiaeaiea 1).

Ai iiiaeo no?aiao nicaeaia eiiieaeniay i?aaiaay aaca aeey
ooieoeeiie?iaaiey eiino?aiiiai eaieoaea. A? ninoaaiie /anoueth
noaiiayony aeaonoi?iiiea niaeaoaiey n eiino?aiiuie ainoaea?noaaie i
acaeiiii iiiu?aiee e caueoa ca?oaaaeiuo eiaanoeoeee . A 90- a aiaeu
A?aaioeia caeeth/eea iiaeiaiua niaeaoaiey n 19 no?aiaie, *eee- n 14,
Aieeaey e O?oaaae- n 11.

Aaaeiui ia?ii?eyoeai ii i?eaea/aieth eiino?aiiiai eaieoaea noaei
cia/eoaeueiia oi?iuaiea i?ioeaaeo?u ?aaeno?aoeee. Oae, a Aeiieieeaineie
?anioaeeea n aaaaeaieai aaoiiaoe/aneie ?aaeno?aoeee i?aaei?eyoee n
eiino?aiiuie eiaanoeoeeyie OeA no?aiu iaycai ca?aaeno?e?iaaoue eo a
oa/aiea 60 aeiae. E ianoiyuaio a?aiaie i?eioeei aaoiiaoe/aneie
?aaeno?aoeee i?iaicaeaoai a caeiiiaeaoaeuenoaa aieueoeinoaa no?ai.

E?iia oiai, n ia/aea 90- o aiaeia ai ana aieueoai /enea ?acaeaathueony
no?ai aeaiiiiiieecaoeey ?acei ?anoe?eea i?eaea/aiea eiino?aiiiai
eaieoaea ia oneiaeyo BOT (build- operate- transfer), ii eioi?ui
ca?oaaaeiua oe?iu iieo/atho i?aai ia no?ieoaeuenoai e aeaaeaiea
i?aaei?eyoee, i?iaeoeoeey eioi?uo ia aeieain?i/iie iniiaa (15-20) eao
i?iaeaaony ainoaea?noaaiiui eiiiaieyi. A Iaeneea e no?aiao Oeaio?aeueiie
Aia?eee eiiiaiee NOA noaee ia?auie ia?oia?aie, i?enooieaoeie a 1993-1995
aiaeao e no?ieoaeuenoao yeaeo?inoaioeee a yoeo ainoaea?noaao.

Oaeei ia?acii ec iaaeaeoia?iaeiiai iiuoa ?inney iiaeao naeaeaoue aeey
naay o?e iniiaiuo auaiaea.

1. Eiino?aiiue eaieoae aeieaeai neoaeeoue aeiiieieoaeueiui n?aaenoaii e
aioo?aiiei eaiaeiaeaieyi. Ieceee o?iaaiue iaoeeiiaeueiiai iaeiieaiey,
neiaeeaoeeny ii/oe ai anao no?aiao eiioeiaioa e?iia *eee, canoaaeyao eo
a /?acia?iie noaiaie iieaaaoueny ia i?eoie n?aaenoa ec-ca ?oaaaea e
i?eaaaaoue e iiiiue e?aoein?i/iuo eaieoaeia niaeoeyoeaiiai oa?aeoa?a. Ia
iiaeiaiua oaae iaecaaaeii aoaeao auioaeaeaia eaeoe e ?inney, iiea a
no?aia ia aic?anooo aioo?aiiea eiaanoeoeee.

2. Ioia/aiiia ianoiyoaeuenoai ii?aaeaeyao e iauoth no?aoaaeth ?aaeeia
aeayoaeueiinoe eiino?aiiiai eaieoaea. *eee, yaeaoayny ieiia?ii a iaeanoe
eeaa?aeecaoeee iieeoeee ii ioiioaieth e iaio, a ianoiyuaa a?aiy a nayce
n iaiueoae iio?aaiinoueth a ca?oaaaeiuo n?aaenoaao i?iaiaeeo aieaa
aeanoeoth iieeoeeo, /ai ae?oaea, iniaaiii a iaeanoe ii?ooaeueiuo
eiaanoeoeee. A nia?aiaiiuo oneiaeyo ?innee oeaeaniia?acii eaeoe ia aieaa
eueaioiue ?aaeei, ca eneeth/aieai ioe?iaaiii niaeoeyoeaiiai eaieoaea.

3. I?e anae aaaeiinoe aeaenoaaiiie iieeoeee ii ioiioaieth e eiino?aiiiio
eaieoaeo aai ianniaue i?eoie ia/iaony oieueei a neo/aa noaaeeecaoeee
yeiiiieee. Naiaa?aiaiiay iiaeaioiaea i?aaiaie e i?aaiecaoeeiiiie aacu
aeayoaeueiinoe eiino?aiiuo eiaanoi?ia niiniaia iieiaeeoaeueii iiaeeyoue
ia ianooaau e ninoaaeythuea yoiai i?eoiea.

2. Eiino?aiiua eiaanoeoeee: eo ianoi e ?ieue a yeiiiieea ?innee.

2.1 Iaiaoiaeeiinoue i?eaea/aiey eiino?aiiuo eiaanoeoeee.

A no?aiao, eniuouaathueo e?ecen ieaoaaeaniiniaiinoe, eiino?aiiua
eiaanoeoeee, a /anoiinoe i?yiua, ?anniao?eaathony a ea/anoaa enoi/ieea,
aeueoa?iaoeaiiai nnoaeiiio eaieoaeo. Yoi iaoneiaeaii oai, /oi aeioiaeu
ii yoei eiaanoeoeeyi oi?ie?othony a ?acoeueoaoa i?aaei?eieiaoaeueneie
aeayoaeueiinoe e ?acia?u ia?aaiaeeiuo ca ?oaaae ?ano?nia caaenyo io aa
?acoeueoaoia.

Ii i?e/eiai aeaaiui ia?acii eaeaieiae/aneiai oa?aeoa?a eiino?aiiua
eiaanoeoeee iieo/eee aeinooi a NNN? eeoue a 1987 aiaeo. Niaeanii
caeiiiaeaoaeueiui aeoai, i?eiyoui a yiaa?a oiai aiaea, o/anoea
eiino?aiiiai eaieoaea ?ac?aoaeinue oieueei a oi?ia NI. Aeiey
eiino?aiiiai ia?oia?a ia iiaea i?aauoaoue 49 %. A 1990 a. eiino?aiiua
eiaanoi?u iieo/eee i?aai nicaeaaaoue i?aaei?eyoey ni 100%- iui o/anoeai.
A ethea 1991 a. auee i?eiyou Iniiau caeiiiaeaoaeuenoaa ia eiino?aiiuo
eiaanoeoeeyo. Niaeanii iineaaeiaio aeaenoaothuaio e a ianoiyuaa a?aiy
caeiio[1] eiino?aiiua eiaanoi?u eiatho i?aai inouanoaeyoue
eiaanoe?iaaiea ia oa??eoi?ee ?innee a ?aciuo oi?iao: aeieaaia o/anoea a
i?aaei?eyoeyo, nicaeaaaaiuo niaianoii n th?eaee/aneeie eeoeaie e
a?aaeaeaiaie ?innee; nicaeaiea i?aaei?eyoee, iieiinoueth i?eiaaeeaaeaueo
eiino?aiiui eiaanoi?ai, a oaeaea oeeeaeia eiino?aiiuo eiiiaiee; iieoiea
i?aaei?eyoee, caeaiee, iaaa, aeoeee, iaeeaaoeee e o.i.; i?eia?aoaiea
i?aa iieueciaaiey caieae e eiuie i?e?iaeiuie ?ano?naie; eiay
aeayoaeueiinoue ii inouanoaeaieth eiaanoeoeee, aeeth/ay i?aaeinoaaeaiea
caeiia, e?aaeeoia, eiouanoaa e eiouanoaaiiuo i?aa.

Iaiaoiaeeiinoue i?eaea/aiey eiino?aiiuo i?iecaiaenoaaiiuo eiaanoeoeee a
yeiiiieeo ?innee i?iaeeeoiaaia ?yaeii aeieaia?aiaiiuo iauaeoeaiuo
i?e/ei. A n?aaeiai ii ?innee aeiey nianoaaiiuo n?aaenoa i?aaei?eyoee a
eiaanoeoeeyo ninoaaeyao ii?yaeea 60- 63 %. Inoaeueiay /anoue aeieaeia
i?eaeaeaoueny ec aiaoieo enoi/ieeia. E iei, i?aaeaea anaai, ioiinyony-
eiino?aiiua i?aaei?eieiaoaee, ?inneeneea oeiainiaua einoeooou e naii
ainoaea?noai.

Nouanoaoao ianeieueei ioeaiie iio?aaiinoe ?inneeneie yeiiiieee a
eiino?aiiuo eiaanoeoeeyo: 150 ie?ae.aeiee. aeey ia?ae/iie iiaea?iecaoeee
eeth/aauo naeoi?ia i?iecaiaenoaa- iaooyiie i?iiuoeaiiinoe (50
ie?ae.aeiee.), ia?aaaouaathuae (50- 60 ie?ae.aeiee.), iaoaeeo?aey (20
ie?ae.aeiee.), iai?iiiuo io?aneae (20-30 ie?ae.aeiee.)- aei eiioea
oaeouaai aeanyoeeaoey.; 2500 ie?ae. aeiee. ia i?aaenoiyuaa 15- eaoea
e,iaeiiaoe, aieaa ne?iiiua oeeo?u, iacaaiiua A.ssneiui aeey oiai aea
ia?eiaea- 800-900 ie?ae. A ?acoeueoaoa ?inney niiaea au ia iiaie, aieaa
nia?aiaiiie aaca ainnoaiiaeoue naie iiceoeee a ie?iaii oicyenoaa a
ea/anoaa e?oiiie eiaeono?eaeueiie no?aiu ni n?aaeiei o?iaiai
yeiiiie/aneiai ?acaeoey e oaeiaeaoai?eoaeueiuie noaiaea?oaie aeecie
ianaeaiey. Nai ianooaa o?aaoaiuo aeey yoiai eaieoaeueiuo cao?ao
naeaeaoaeuenoaoao i iaiaoiaeeiinoe i?eoiea n?aaenoa ecaia.

Nia?aiaiiia ninoiyiea yeiiiieee ?innee ia noeioee?oao eiiia?/aneea aaiee
e inouanoaeaieth aeiaeaiee a i?iecaiaenoaaiioth noa?o. E oiio aea
eiathueany ioeaiee aiai?yo i oii, /oi naiua e?oiiua eiiia?/aneea aaiee
aeaaea i?e iaeneiaeueii aeaaii?eyoiuo oneiaeyo niiniaiu iaeiia?aiaiii
aeiaeeoue a ioaeaeueiua i?iaeou a n?aaeiai ia aieaa 20 iei. aeieea?ia e,
eae eneeth/aiea,- aei 40 iei. Aeieea?ia.

[1] Caeii ?NON? io 4 ethey 1991 aiaea “Ia eiino?aiiuo eiaanoeoeeyo a
?NON?”.

Ainoaea?noai oiaea iiaeii ?anniao?eaaoue eae iioaioeeaeueiiai eiaanoi?a.
Ii naaiaeiy ?ann/eouaaoue ia iaoa?eaeueioth iiaeaea?aeeo ainoaea?noaa,
oi anoue ia i?yiia oeiaine?iaaiea i?iiuoeaiiinoe iiea ia i?eoiaeeony- o
iaai naie o?oaeiinoe n athaeaeaoii. Aaeeinoaaiiia, /oi iiaeao
ainoaea?noai naeaeaoue, yoi i?iaanoe aua iaeio aieio i?eaaoecaoeee.

Ii?aaeaeaiiia i?aaenoaaeaiea ia yooaeoeaiinoe eniieueciaaiey
eiino?aiiiai eaieoaea a i?iecaiaenoaaiiie noa?a e a yenii?oa aeatho
neaaeothuea aeaiiua.

1. Ii ninoiyieth ia na?aaeeio 1995 aiaea a ?innee ca?aaeno?e?iaaii aieaa
16 oun. i?aaei?eyoee n eiino?aiiuie eiaanoeoeeyie. [5] I?eia?ii
iieooi?iia i?aauoaiea yenii?oa i?aaei?eyoee n eiino?aiiuie eiaanoeoeeyie
iaae eiii?oii iaania/eaaao eo “aaethoioth naiiieoiaaiinoue” e
niinianoaoao ?aeiaanoeoeeyi a yeiiiieeo, enoiaey ec no?aoaae/aneie
caaea/e cae?aieaiey ia ?inneeneii ?uiea (iaooyiua e yeaeo?iiiua
eiiiaiee, i?iecaiaeeoaee i?iaeiaieuenoaey). A 1994 aiaeo 82 % ?oaeaauo
eiino?aiiuo eiaanoeoeee (72 ie?ae. ?oaeae – aac o/aoa eiiia?/aneeo
aaieia e i?eaaoecaoeee i?aaei?eyoee) ninoiyee a iniiaiii ec
?aeiaanoe?iaaiiie i?eauee, i?e/ai inouanoaeaiu iie aue a aeaea i?yiuo
eiaanoeoeee.[5]

2. Niaeanii aeaiiui ss.O?einiia, caianoeoaey ieieno?a yeiiiieee,
i?iecaiaeeoaeueiinoue ia i?aaei?eyoeyo n eiino?aiiuie eiaanoeoeeyie a
1,5- 2 ?aca auoa, /ai ia aiaeiae/iuo ioa/anoaaiiuo i?aaei?eyoeyo.
Niaeanii ae?oaei aeaiiui, iia auea ii/oe a 7 ?ac auoa n?aaeiae ii
ia?iaeiiio oicyenoao. Aaeeee ?ac?uau e ii oiiaeiioaea/a, ii iia ia 42 %
aieueoa, /ai ia /enoi ?inneeneeo i?aaei?eyoeyo.

3. Aieueoay /anoue i?iecaaaeaiiie i?iaeoeoeee niaianoiuo i?aaei?eyoee
?aaeecoaony ia aioo?aiiai ?uiea, auioaeaeay ioa/anoaaiiuo
i?iecaiaeeoaeae oaeaeyoue aieueoa aieiaiey iiauoaieth ea/anoaa
i?iaeoeoeee.

2.2. I?eoie eiino?aiiiai eaieoaea: ninoiyiea e oaiaeaioeee.

Eiino?aiiiio eaieoaeo a ?innee i?aaeinoaaeyaony oe?ieia iiea
aeayoaeueiinoe. Aieiaiea caiaaeiuo eiaanoi?ia i?aaeaea anaai
nin?aaeioi/aii ia io?aneyo, eioi?ua i?eaueueiu nae/an, eioi?ua aoaeoo
i?eaueueiu /a?ac iiiai eao e eioi?ua ia o?aaotho cia/eoaeueiuo
oeiainiauo aeeaaiee. Ai-ia?auo, yoi i?aaei?eyoey yia?aaoe/aneie,
aeiauaathuae, oiieeaiie i?iiuoeaiiinoe. Ai- aoi?uo, i?aaei?eyoey,
eioi?ua ?aaioatho ia ianoiua ioaeaeu- yoi i?iecaiaenoai iyna, iieiea,
ianea e o.ae. Noaey ii ie?iaiio iiuoo e ia?aui aiaeai acaeiiaeaenoaey
?inneeneiai e eiino?aiiiai eaieoaea iaeaieaa i?eaeaeaoaeueiuie aeey
iineaaeiaai aoaeoo:

? a io?aneaaii ?ac?aca, i?aaeaea anaai i?aaei?eyoey OYE;

? ii oaeoi?ai i?iecaiaenoaa- aeaoaaay ?aai/ay neea;

? ii nii?yaeaiiui cao?aoai- i?iecaiaenoaa n aunieie yeieiae/aneie
iaa?oceie;

? ii iao/ii- oaoie/aneei e?eoa?eyi- ioaeaeueiua oaoiieiaee eiiaa?neiiiuo
i?aaei?eyoee.

Ca eneeth/aieai aeiauaathueo io?aneae, i?ei?eoao aoaeao ioaeaaaoueny
ooieoeeiie?othuei i?aaei?eyoeyi, i?eia?aoaaiui ia i?eaaoecaoeeiiiuo
aoeoeeiiao, e cae?aieaieth ia aioo?aiiai ?uiea ?innee.

A oeaeii, ianiio?y ia i?aaei?eieiaaiua oneeey, nio?aiyaony oaiaeaioeey
e nieaeaieth ?iee eiino?aiiiai eaieoaea a iaoae yeiiiieea. ?innee iiea
ia oaeaeinue i?aaie/ii aeeth/eoueny a iaaeaeoia?iaeiue eiaanoeoeeiiiue
i?ioeann, e iia onooiaao a iai auaoei ?anioaeeeai Niaaoneiai Nithca e
ainoi/iiaa?iiaeneei no?aiai. Eiaanoeoeee ia caieiatho caiaoiiai ianoa a
yeiiiieea ?innee.

Iniiaiay oi?ia, a eioi?ie ?aaeecothony i?yiua eiino?aiiua eiaanoeoeee a
?inneeneie yeiiiieea,- i?aaei?eyoey n eiino?aiiuie eiaanoeoeeyie (IEE).
I?aaei?eyoey n eiino?aiiuie eiaanoeoeeyie a ?innee aeoeaii inouanoaeytho
aiaoiaoi?aiaoth aeayoaeueiinoue e ii aa ?acoeueoaoai eiatho
iieiaeeoaeueiia aiaoiaoi?aiaia naeueaei. Niaianoiuie e eiino?aiiuie
i?aaei?eyoeyie ia ?inneeneii ?uiea ?aaeeciaaii i?iaeoeoeee (?aaio,
oneoa) ia iauoth noiio 17,7 o?ei. ?oaeae, i?e/ai 48 % yoiai iauaia-
iaoiaeyueieny a Iineaa. Yenii?oe?iaaee oiaa?ia e oneoa ia noiio 1,2
ie?ae. aeieea?ia NOA (5,6 io iauaai iauaia yenii?oa ?innee). Ii/oe
iieiaeia iauaia yenii?oa i?eoiaeeeanue a noiia ia oaeea no?aiu, eae
Aaeeeia?eoaiey, Aa?iaiey, Neiaaeey, Eoaeey, ssiiiey, Iieueoa. A iauai
iauaia i?aiaeaaeatho oiieeaii- yia?aaoe/aneea ?ano?nu. Oae, yenii?o
ieia?aeueiiai oiieeaa e iaooe ninoaaee a enoaeoai eaa?oaea 45 % io
iauaai aai iauaia. [11]

Iiaeii i?eaanoe ianeieueei i?eia?ia. Oae, ecaanoiay eiiiaiey “Procter &
Gamble” a 1992 aiaeo i?eia?aea ia eiaanoeoeeiiiuo oi?aao 14 % aeoeee AI
“Iiaiiineianeauooei”. Iauai eiaanoeoeee a oa/aiea 5 eao ninoaaeo
(niaeanii i?iaiica) 50 iei. $, e, iiieii yoiai 1 iei. $ auaeaeyaony ia
nioeeaeueiua ioaeaeu a. Iiaiiineianea e a. Ooeu.

Ae?oaie i?eia?. Oe?ia “Aaeoee Aaaa?eaeae Oieaeeian” (Oaaoeey) ia
eiaanoeoeeiiiuo oi?aao i?eia?aea 43,5 % aeoeee AI “Ieaiaa?aiiue caaiae
“Aaeoeea” e acyea ia naay iaycaoaeuenoai aeiiieieoaeueii eiaanoe?iaaoue
a ?acaeoea yoiai AI 150 iei. E?ii.

O?aioeocneay oe?ia “THyo Oieaeeian” iiaaaeeea ia eiaanoeoeeiiiii
eiieo?na a O?ieoeei- Ia/i?neii ?aeiia ?anioaeeee Eiie, i?eia?aoy iaeaou
aeoeee iyoe eanicaaioiaeoaeueiuo i?aaei?eyoee. Oe?ia iaycaeanue
niaianoii n ae?oaeie caiaaeiuie o/anoieeaie eiaanoe?iaaoue a oa/aiea 10
eao ia iaiaa 100 iei. $. [7]

Auaeaeyy yeiiiie/aneea i?e/eiu ?inoa /enea IEE, i/aaeaeii, /oi naeaeae
i?ienoiaeyo a noi?iio ?aeiiia n nu?ueaaie iai?aaeaiiinoueth a
i?iecaiaenoaa (Caiaaeiay e Ainoi/iay Neae?ue, Naaa?i-Caiaae).

?anoao /enei no?ai, eaieoae eioi?uo o/anoaoao a nicaeaiee i?aaei?eyoee n
eiino?aiiuie eiaanoeoeeyie. Oae, anee a 1990 aiaeo auee nicaeaiu
i?aaei?eyoey n eiino?aiiuie eiaanoeoeeyie ec 51 no?aiu, oi a 1993 aiaeo-
120, a a 1995- ec 134 no?ai ie?a.[11] Iaeaieueoaa eiee/anoai NI nicaeaii
n NOA, Aa?iaieae, Eeoaai, Oeieyiaeeae e Aaeeeia?eoaieae. Yoi
naeaeaoaeuenoaoao i oii, /oi, ianiio?y ia nouanoaothuea i?iaeaiu,
nicaeathony iiaua IEE e ia?aueaatho iioaioeeae i?aaeiea.

E?iia oiai, a iineaaeiaa a?aiy noaei aeoeaii ?anoe /enei i?aaei?eyoee,
nicaeaaaaiuo n eaieoaeii ec no?ai Ainoi/iie Aa?iiu. Yoi aucaaii oai, /oi
i?eaioaoeey yoeo no?ai ia caiaaeiua ?uiee naay ia ii?aaaeaea, e
iiyaeeinue no?aieaiea a ainnoaiiaeaieth i?aaeieo oicyenoaaiiuo naycae
auaoeo no?ai- /eaiia NYA, e yeiiiie/aneiio e iao/ii- oaoie/aneiio
nio?oaeie/anoao ia i?eioeeiao ?uii/iie yeiiiieee.

?anoao /enei i?aaei?eyoee n eaieoaeii ec aceaoneeo no?ai, eiii?o oiaa?ia
ec eioi?uo eiatho aunieoth yooaeoeaiinoue. N?aaee yoeo no?ai
auaeaeythony i?aaeaea anaai Eeoae e ssiiiey, a oaeaea THaeiay Ei?ay,
Eiaeey, Neiaaio?, Aueaoiai.

E?iia oiai, aaaeiia ianoi caieiatho eiaanoeoeeiiiua ioiioaiey ni
no?aiaie NIA. A eo iniiaa, aaconeiaii, aeieaeiu eaaeaoue iauai?eiyoua
iaaeaeoia?iaeiua noaiaea?ou. A oi aea a?aiy, /anoe auaoaai aaeeiiai
ia?iaeiioicyenoaaiiiai eiiieaena nio?aieee iiiaea oaoiieiae/aneea e
eiiia?aoeeiiiua nayce. A iineaaeiaa a?aiy noaee caiaoiuie oaiaeaioeee e
/anoe/iie ?aeioaa?aoeee ia iiaie iaaeainoaea?noaaiiie iniiaa e e
ii?aaeaeaiiie oieoeeaoeee oneiaee yeiiiie/aneiai acaeiiaeaenoaey, a oii
/enea a eiaanoeoeeiiiie noa?a. Oae, a oa/aiea 1995 a. a Eacaonoaia
ca?aaeno?e?iaaii 40 niaianoiuo i?aaei?eyoee, a ?innee- 1042, a
Ocaaeenoaia- 63. Eiaiii iiyoiio onei?aiea ianoaeaeaiey a Ainaeoia e ia
iaaeia?eaiaioneie annaiaeaa ainoaea?noa NIA iiaeaeueiuo i?eioeeiia
eiino?aiiiai eiaanoe?iaaiey ieacaeinue au aieaa iieaciui aeey
iaeaaeeaaiey eiaanoeoeeiiiiai nio?oaeie/anoaa ?innee n ae?oaeie
o/anoieeaie Niae?oaeanoaa, naeeaeaiey eo caeiiiaeaoaeuenoaa. Ia noieo
na?anuaaoue ni n/aoa e oi, /oi aicieeiiaaiea eiaanoeoeeiiiiai
nio?oaeie/anoaa ?innee ia i?ino?ainoaa auaoaai Niaaoneiai Nithca
oaaee/eo eiee/anoai io?aneae e i?iecaiaenoa a ?innee, i?aaenoaaeythueo
eioa?an aeey caiaaeiuo eiaanoi?ia.

Aeeiaieea i?eoiea eiino?aiiiai eaieoaea ca iineaaeiea 5 eao
oa?aeoa?ecoaony neaaeothueie aeaiiuie:

Oaaeeoea 2.2.1

Aiaeu

Ie?ae. aeiee.

Ie?ae. ?oa.Ie?ae. ?oa. a ia?an/aoa a ie?ae. aeiee.

Eoiai ie?ae. aeiee.1.Iaeiieaii ia eiiaoe 1992 a.

1,3

0,7

0,0

1,32.Iinooieei
a:19931,44,10,01,419941,189,00,01,119952,8850,80,23,019966,52380,70,57,0
3.Iaeiieaii ia 1.01.97 (eae noiia ca 1992 – 96 aa.)

13,1

3325,3

0,7

13,84.Iaeiieaii ia 1.01.96. e iinooieei a 1996 a. ii io/aoo i?aaei?eyoee
ca 1996 aiae

4262,6

0,9

14,4Enoi/iee: Eiaanoeoeee a ?innee – 1997 a. N5-6. – no?.11

I?eaaaeaiiua aeaiiua iieacuaatho, /oi ca iineaaeiea aeaa aiaea i?eoie
eiino?aiiuo eiaanoeoeee a ?innee oaaee/eaaaony n?aaieoaeueii aunieeie
oaiiaie. A 1995 a. iauai eiino?aiiuo eiaanoeoeee, aeiaeaiiuo a
?inneeneoth yeiiiieeo, aic?in ii n?aaiaieth n i?aaeuaeouei aiaeii a 2,7
?aca, a 1996 a. ii n?aaiaieth n 1995 – a 2,3 ?aca.

Ia eiiaoe 1995 aiaea a ?innee auei iaeiieaii, aac o/aoa i?aaiia
aeaiaaeii-e?aaeeoiiai ?aaoee?iaaiey e aaieianeiai naeoi?a, 7 ie?ae.
aeiee. e 1,9 o?ei. ?oa. eiino?aiiuo eiaanoeoeee. A 1996 aiaeo iinooieei
aua 6,5 ie?ae. aeiee. e 2,4 o?ei. ?oa, o. a. ii/oe noieueei aea,
neieueei ca ana i?aaeoanoaothuea aiaeu, aianoa acyoua.

?aceia oaaee/aiea a 1996 a. eiino?aiiuo eiaanoeoeee ii?aaaeaei i?iaiicu
Ieiyeiiiieee. Yoi naeaeaoaeuenoaoao ia oe?aieaiee aeiaa?ey e ?innee,
ianiio?y ia neiaeiinoue nioeeaeueii-iieeoe/aneie ianoaiiaee a yoio
ia?eiae.

Iaeiaei yoa oaiaeaioeey ia iiaeao auoue iaeiicia/ii iieiaeeoaeueii
ioeaiaia aac aeiiieieoaeueiiai enneaaeiaaiey eo aeeyiey ia yeiiiieeo.

?anniio?ei iai?aaeaiey aeiaeaiey i?eaeaeaaiuo ec-ca ?oaaaea eaieoaeia e
oaiaeaioeee eo eciaiaiey.

Iaeaieueoaa cia/aiea aeey ?innee eiaao i?eoie eaieoaeiia?acothueo
eiaanoeoeee, o. a. eiaanoeoeee a eaieoaeueiua aeiaeaiey, eai?aiiio, a
oaeaea a iaiaoa?eaeueiua aeoeau (iaoaiou, eeoeaicee, i?ia?aiiiua
i?iaeoeou, iao/ii-enneaaeiaaoaeueneea e iiuoii-eiino?oeoi?neea
?ac?aaioee) e a iiiieiaiea caiania iai?ioiuo n?aaenoa. Iaeiaei aeaiiua
noaoenoeee ia niaea?aeao eioi?iaoeee i oii, eaeay aeiey iauaai iuaia
eiino?aiiuo eiaanoeoeee i?eoiaeeony ia eaieoaeiia?acothuea. E iu
auioaeaeaiu auee no?ieoue naie auaiaeu ia eiathueony aeaiiuo i
?ani?aaeaeaiee iauaai iuaia eiino?aiiuo eiaanoeoeee ia i?yiua,
ii?ooaeueiua e oae iacuaaaiua “i?i/ea”, a oaeaea ia aeaiiuo i
eaieoaeueiuo aeiaeaieyo niaianoiuo e eiino?aiiuo i?aaei?eyoee.

I?e iauai aunieii oaiia ?inoa eiino?aiiuo eiaanoeoeee ?acee/iua eo aeaeu
oaaee/eaathony iaiaeeiaeiai. I?e?ino i?yiuo eiaanoeoeee ca 1996 a.
ninoaaee 48% e iauaio iauaio eiaanoeoeee aeaiiiai aeaea, iaeiieaiiuo ia
eiiaoe 1995 a. Ii?ooaeueiua eiaanoeoeee ?inee aieaa auno?uie oaiiaie: a
1996 a. eo i?eoie i?aaunee iaeiieaiiue o?iaaiue ia 62%. *oi aea eanaaony
“i?i/eo” eiaanoeoeee, iniiaioth /anoue eioi?uo ninoaaeytho e?aaeeou, oi
a 1996 a. eo iinooieaiea i?aauneei iaeiieaiiue o?iaaiue ia 94%.

Ia?auaao ia naay aieiaiea nieaeaiea aeiee i?yiuo eiaanoeoeee a iauai
iauaia i?eoiea eiino?aiiuo eiaanoeoeee. Niaeanii iaoiaeeea Aineiinoaoa,
e i?yiui eiaanoeoeeyi ioiinyony “eiaanoeoeee, naeaeaiiua i?yiuie
eiaanoi?aie, o. a. th?eaee/aneeie eee oece/aneeie eeoeaie, iieiinoueth
aeaaeathueie i?aaei?eyoeai eee eiio?iee?othueie ia iaiaa 10% aeoeee eee
aeoeeiia?iiai eaieoaea i?aaei?eyoey, /oi aeaao i?aai ia o/anoea a
oi?aaeaiee i?aaei?eyoeai”. A 1996 a. eo aeiey ninoaaeea eeoue 35% iauaai
iauaia i?ioea 68,4% a eiaanoeoeeyo, iaeiieaiiuo ia eiiaoe 1995 aiaea.
Anee aea n/eoaoue eiaanoeoeee oieueei a eiino?aiiie aaethoa, oi aeiey
i?yiuo aoaeao aua ieaea – 32,1 %.

Aeiey ii?ooaeueiuo, o. a. eiaanoeoeee a “iieoieo aeoeee, ia aeathueo
i?aaa aeeaae/eeai aeeyoue ia ooieoeeiie?iaaiea i?aaei?eyoee e
ninoaaeythueo iaiaa 10% a iauai aeoeeiia?iii eaieoaea i?aaei?eyoey, a
oaeaea iaeeaaoeee, aaenaeae e ae?oaeo aeieaiauo oeaiiuo aoiaa
nianoaaiiiai e caaiiiai eaieoaea”, ii-i?aaeiaio inoaaony ieceie – 1,8%
iauaai iauaia iinooieaoeo e 1,4% iauaai iauaia iaeiieaiiuo ia eiiaoe
1996 a. eiaanoeoeee.

Ii eiaanoeoeeyi, inouanoaeaiiui a eiino?aiiie aaethoa, aeiey
ii?ooaeueiuo a 1996 aiaeo ii n?aaiaieth n eo aeieae a iaeiieaiiuo ia
1.01.96 aeaaea ianeieueei nieceeanue – n 1% aei 0,7%, iaeiaei a
“?oaeaauo” iia oaaee/eeanue io 2,1% aei 17,9% niioaaonoaaiii.
Iineieueeo iniiaioth aeieth eiino?aiiuo eiaanoeoeee, inouanoaeyaiuo a
?oaeyo, ninoaaeyao ?aeiaanoe?iaaiiay i?eaueue, iiaeii naeaeaoue auaiae,
/oi ii?ooaeueiia eiaanoe?iaaiea noaiiaeony aaaeiui iai?aaeaieai
eniieueciaaiey eiino?aiiuie eiaanoi?aie i?eauee, iieo/aiiie eie a ?oaeyo
io aeayoaeueiinoe a ?innee.

A 1996 a. i?eia?ii 65% ii?ooaeueiuo eiaanoeoeee auei inouanoaeaii a
?oaeyo (aeey n?aaiaiey: i?yiuo – 14% e eeoue 1% “i?i/eo”). Oaeei
ia?acii, iniiaiie iauai i?iaeaae eiino?aiiui eiaanoi?ai oeaiiuo aoiaa
neiioeaio?e?iaai naaiaeiy ia aioo?aiiai ?uiea e inouanoaeyaony ca ?oaee.
A iaeiieaiiuo ia 1.01.97 ii?ooaeueiuo eiaanoeoeeyo ia aeoeee i?eoeinue
eeoue 51%, inoaeueiie iauai ninoaaeee aeiaeaiey a aeieaiaua oeaiiua
aoiaae, 96% ec eioi?uo – a e?aoein?i/iua.

“I?i/ea” eiaanoeoeee, 71% ec eioi?uo – e?aaeeou, iieo/aiiua ia io i?yiuo
eiaanoi?ia, ninoaaeee a 1996 a. ieiei 63% iauaai iauaia eiino?aiiuo
eiaanoeoeee ii n?aaiaieth n 30% a iaeiieaiiuo ia eiiaoe 1995 a.
I?eia?ii 20% e?aaeeoia i?eoiaeeony ia aeieth iaaeaeoia?iaeiuo oeiainiauo
i?aaiecaoeee, 13% – oi?aiaua e?aaeeou. Ae?oaoth cia/eoaeueioth /anoue
e?aaeeoia ninoaaeytho e?aaeeou, i?aaeinoaaeyaiua eiino?aiiuie
eiaanoi?aie ?aceaeaioai aeey iieoiee ainoaea?noaaiiuo oeaiiuo aoiaa.
Oi/iue ?acia? oaeeo e?aaeeoia ia ecaanoai, iineieueeo a aeaieao
io/aoiinoe iie ioaeaeueiie no?ieie ia auaeaeythony. Aeey ia?aceaeaioia
e?aaeeoiaaiea aeey iieoiee ainoaea?noaaiiuo oeaiiuo aoiaa ieacuaaaony
iaeiei ec niiniaia iaieoe aeaenoaothuea ia oiiaeiaii ?uiea ia?aie/aiey.
Iaeiaei a?yae ee oaeie ?ino eiaanoeoeee niiniaai na?ueacii
niinianoaiaaoue aic?iaeaeaieth yeiiiieee. Ia 4,4 ie?ae. aeiee. “i?i/eo”
eiaanoeoeee, iinooieaoeo a 1996 a. i?eoeinue 0,8 ie?ae. aeiee. aeioiaea,
/oi ninoaaeei 19% io aeiaeaiiuo n?aaenoa. Oaeie o?iaaiue aeioiaeiinoe
neaaeoao n/eoaoue aeiaieueii aunieei. Eiaiii yoei, ii-aeaeeiiio, e
iauyniyaony noieue ?aceee ?ino “i?i/eo” eiaanoeoeee ii n?aaiaieth n
i?yiuie.

Aeey ioeaiee ?aaeueiuo naeaeaia ai aeeyiee eiino?aiiuo eiaanoeoeee ia
iaoeiainiaue naeoi? yeiiiieee ?innee neaaeoao ?anniio?aoue aeeiaieeo
eaieoaeueiuo aeiaeaiee niaianoiuo e eiino?aiiuo i?aaei?eyoee ca
1993-1996 aa., ia?an/eoaiiuo a niiinoaaeiua oeaiu.

Eaieoaeueiua aeiaeaiey niaianoiuo e eiino?aiiuo i?aaei?eyoee ia
i?ioyaeaiee o?ao iineaaeieo eao inoathony ieaea o?iaiy 1993 a. A 1996 a.
iauai eiaanoeoeee a iniiaiie eaieoae niaianoiuo e eiino?aiiuo
i?aaei?eyoee aue ia 8,3% iaiueoa, /ai a 1995 a. e ia 55,5% iaiueoa, /ai
a 1993 a. E yoi i?e oii, /oi iauaa eiee/anoai ca?aaeno?e?iaaiiuo
niaianoiuo e eiino?aiiuo i?aaei?eyoee oaaee/eeinue ca 1994-1996 aa. ii
n?aaiaieth n 1993 a. a o?e ?aca! (ni.Aeeaa?aiio 1). Iiaeii auei au
i?aaeiieiaeeoue, /oi, oioy eaieoaeueiua aeiaeaiey niaianoiuo e
eiino?aiiuo i?aaei?eyoee iaaeatho, “eiino?aiiay” ninoaaeythuay a ieo
?anoao. Iaeiaei aiaeec iieacuaaao, /oi yoi ia oae. Aeaiiua i
eaieoaeiaeiaeaieyo niaianoiuo e eiino?aiiuo i?aaei?eyoee ca n/ao
eiino?aiiuo eiaanoeoeee anoue oieueei ca iineaaeiea 2 aiaea- 1995 e
1996. A yoio ia?eiae aeiey eaieoaeiaeiaeaiee ca n/ao eiino?aiiuo
eiaanoeoeee a iauai iauaia eaiaeiaeaiee niaianoiuo e eiino?aiiuo
i?aaei?eyoee nie?aoeeanue n 47,5 % aei 37,8 %. A 1996 aiaeo eaieoaeueiua
aeiaeaiey niaianoiuo e eiino?aiiuo i?aaei?eyoee ca n/ao eiino?aiiuo
eiaanoeoeee ninoaaeee eeoue 74 % io o?iaiy 1995 a. Iaeiia?aiaiii
neaaeoao ioiaoeoue nieaeaiea a 1996 a. ii n?aaiaieth n 1995 a.
eiee/anoai niaianoiuo e eiino?aiiuo i?aaei?eyoee, eiathueo nianoaaiiua
iauaiu i?iecaiaenoaa i?iaeoeoeee e ?aaeecaoeee ?aaio (oneoa) i?e iauai
?inoa eiee/anoaa ca?aaeno?e?iaaiiuo ?aaioathueo i?aaei?eyoee (ni.
Aeeaa?aiio 2).

Oaeei ia?acii, ianiio?y ia iauee ?ino eiino?aiiuo eiaanoeoeee,
iieiaeeoaeueiuo naeaeaia a ?inneeneoth yeiiiieeo iie iiea ia i?eianee.

Ia?niaeoeau i?eoiea a ?inneth eiino?aiiiai eaieoae a cia/eoaeueiie ia?a
ii?aaeaeyaony neiaeeaoeieny io?aneaauie i?aaeii/oaieyie ca?oaaaeiuo
eiaanoi?ia. A Aeeaa?aiia 3 io?aaeaii ?ani?aaeaeaiea ii io?aneyi
eiino?aiiuo eiaanoeoeee, iaeiieaiiuo ia 1.01.1997 a. Ieacuaaaony, /oi
iniiaiay ianna eiaanoeoeee eaeao ia a ?aaeueiue naeoi? yeiiiieee, a
oeiainiai- e?aaeeoioth noa?o e iauoth eiiia?/aneoth aeayoaeueiinoue ii
ooieoeeiie?iaaieth ?uiea. I?e/ai ca 1996 a. aeiey yoeo iai?aaeaiee a
iauai iauaia iaeiieaiiuo eiino?aiiuo eiaanoeoeee aic?inea ii/oe ia 10 %:
oeiainiai-e?aaeeoiie noa?u – n 9,3% a iaeiieaiiuo ia 1.01.1996 aei 18,9%
iaeiieaiiuo ia 1.01.1997, a iauae eiiia?/aneie aeayoaeueiinoe – n 4,5
aei 13,75 niioaaonoaaiii.

Iaeaieueoay /anoue iaeiieaiiuo ia eiiaoe 1996 aiaea “i?i/eo”
eiaanoeoeee, iniiaioth /anoue eioi?uo, eae oaea ioia/aeinue, ninoaaeytho
e?aaeeou, i?eoeanue eiaiii ia yoe iai?aaeaiey – e?aaeeoii-oeiainiaoth
noa?o (a iniiaiii eiaanoeoeeiiiua oiiaeu) – 29% e iauoth eiiia?/aneoth
aeayoaeueiinoue ii ooieoeeiie?iaaieth ?uiea – 24,55 (?aeeaiiua.
ia?eaoeiaiaua e o. i. oe?iu), a oaeaea ia oiieeaioth i?iiuoeaiiinoue –
14,9%. Ii anee aunieay aeiey oiieeaiie i?iiuoeaiiinoe a iauai iauaia
“i?i/eo” eiaanoeoeee iauyniyaony aieueoei iauaiii e?aaeeoia, iieo/aiiuo
ath io iaaeaeoia?iaeiuo oeiainiauo i?aaiecaoeee, oi i?eoie “i?i/eo”
eiaanoeoeee a oeiainiai-e?aaeeoioth noa?o e eiiia?/aneoth
aeayoaeueiinoue iaania/eaaaony i?aeoe/anee eneeth/eoaeueii ca n/ao
/anoiiai eaieoaea.

Iieiaeeoaeueiia aeeyiea ia yeiiiieeo oao eiino?aiiuo eiaanoeoeee,
eioi?ua i?eaea/aiu a oi?ia e?aaeeoia, iniaaiii e?aoein?i/iuo, iineo
ia?aie/aiiue oa?aeoa?. Ai-ia?auo, e?aaeeo n i?ioeaioaie aeieaeai auoue
aica?auai a ethaii neo/aa, iacaaeneii io oaea/e eee iaoaea/e i?iaeoa.
Ai-aoi?uo, e?aaeeou ca/anooth iinyo naycaiiue oa?aeoa?, o. a. iaycuaatho
i?eia?aoaoue iai?oaeiaaiea, oaoiieiaee e o. i. o i?iecaiaeeoaeae
ii?aaeaeaiiie no?aiu eeai aeaaea o ii?aaeaeaiiie eiiiaiee. E?iia oiai,
auaeaeaiea e?aaeeoia iaaeaeoia?iaeiuo oeiainiauo i?aaiecaoeee, i
“aeaoaaecia” eioi?uo iiiai aiai?eony, a ?yaea neo/aaa i?aaeoniao?eaaao
auiieiaiea ?inneeneie noi?iiie eiie?aoiuo oneiaee, ia anaaaea aeey iaa
auaiaeiuo. Oae, e?aaeeoiay aeoeaiinoue iaaeaeoia?iaeiuo oeiainiauo
i?aaiecaoeee a ?innee nin?aaeioi/aia naaiaeiy a iniiaiii a noa?a
oiieeaiie i?iiuoeaiiinoe – ia yoo io?aneue i?eoiaeeony 56,8% anao
i?aaenoaaeaiiuo eie e?aaeeoia (ni. Aeeaa?aiio 4). A oi aea a?aiy eiaiii
n oiieeaiie i?iiuoeaiiinoueth /aua anaai auaatho naycaiu aunoaaeyaiua
?innee oneiaey, a /anoiinoe, ii aii?inai eaioe?iaaiey e oa?eoiie
iieeoeee.

A yoie nayce aaaeii auynieoue, eaeea io?anee naaiaeiy iiaoo
?ann/eouaaoue, iiieii ianooaaiuo e?aaeeoiuo aeiaeaiee, ia i?yiua e
ii?ooaeueiua eiaanoeoeee. Iaeaieaa i?inoi i?eaeaeaoaeueiinoue io?aneae
aeey i?yiuo e ii?ooaeueiuo eiaanoi?ia iiaeao auoue ioeaiaia ii
oaeoe/anee neiaeeaoaeny eiaanoeoeeiiiie aeoeaiinoe, au?aaeathuaeny a
aaee/eiao io?aneaauo aeieae a iauai iauaia eiino?aiiuo eiaanoeoeee,
iaeiieaiiuo ia eiiaoe 1996 aiaea a ?oaeyo e eiino?aiiie aaethoa. Aeey
?an/aoa iauaai iauaia iaeiieaiiuo ia eiiaoe 1996 a. eiaanoeoeee,
eiino?aiiua eiaanoeoeee, iaeiieaiiua ia eiiaoe 1995 a. a ?oaeyo e
eiino?aiiie aaethoa, noiie?iaaeenue n eiaanoeoeeyie a ?oaeyo e
eiino?aiiie aaethoa, iinooieaoeie a 1996 a. I?e yoii eiaanoeoeee a
aeieea?ao noiie?iaaeenue n eiaanoeoeeyie, inouanoaeaiiuie a ?oaeyo,
ia?an/eoaiiuie a aeieea?u: ii iaeiieaiiui eiaanoeoeeyi – ii n?aaeiaio ca
1995 a. eo?no 4554 ?oa./aeiee. NOA, ii iinooieaoei a 1996 a. – ii eo?no
5124 ?oa./aeiee. NOA.

Ieaea i?eaiaeyony aeaiiua ia io?aneyo, iaeaieaa i?eaeaeaoaeueiuo aeey
i?yiuo e ii?ooaeueiuo eiaanoi?ia.

Oaaeeoea 2.2.2.

Io?anee, iaeaieaa i?eaeaeaoaeueiua aeey i?yiuo eiaanoi?ia (a % io iauaai
iauaia i?yiuo eiaanoeoeee ia 1.01.1997)Io?anee, iaeaieaa
i?eaeaeaoaeueiua aeey ii?ooaeueiuo eiaanoi?ia (a % io iauaai iauaia
ii?ooaeueiuo eiaanoeoeee ia 1.01.1997)Ieuaaay i?iiuoeaiiinoue20,6Oeiainu
e e?aaeeo34,6Oiieeaiay i?iiuoeaiiinoue 11,5Iauay eiiia?/aneay
aeayoaeueiinoue ii ooieoeeiie?iaaieth ?uiea21,7Oi?aiaey e
iauaieo10,9Ieuaaay i?iiuoeaiiinoue18,8Oeiainu e e?aaeeo9,4Oeaaoiay
iaoaeeo?aey7,5Eaniay, aea?aaiia?aaaouaathuay e oeaeetheicii- aoiaaeiay
i?iiuoeaiiinoue7,1

Iaoeiino?iaiea e iaoaeeiia?aaioea5,2Iaoeiino?iaiea e
iaoaeeiia?aaioea5,6*a?iay iaoaeeo?aey4,2Oeiey e
iaooaoeiey4,9O?ainii?o2,8Enoi/iee[2]: Eiaanoeoeee a ?innee – 1997 a.
N5-6. – no?.11

Iiaeii naeaeaoue auaiae, /oi i?yiua eiaanoi?u i?eaioe?othony a ia?aoth
i/a?aaeue ia aeiaeaiey a io?anee, iaania/aiiua aioo?e ?innee
aa?aioe?iaaiiui iio?aaeoaeueneei ni?inii (ieuaaay i?iiuoeaiiinoue,
oi?aiaey e iauaieo) e nu?ueaaua io?anee, i?iaeoeoeey eioi?uo iieuecoaony
ni?inii ia aiaoiai ?uiea (oiieeaiay, eaniay, aea?aaiia?aaaouaathuay e
oeaeetheicii-aoiaaeiay i?iiuoeaiiinoue). Ec ia?a/eneaiiuo io?aneae
iaeaieaa auniea aeiey i?yiuo a iauai iauaia eiino?aiiuo eiaanoeoeee,
iaeiieaiiuo ia eiiaoe 1996 a., a oi?aiaea e iauanoaaiiii ieoaiee (88,1%)
e ieuaaeoniaie i?iiuoeaiiinoe (86,7%), a eaniie, aea?aaiia?aaaouaathuae
e oeaeetheicii-aoiaaeiie i?iiuoeaiiinoe iia ianeieueei ieaea (70,4%), a
a aeoeaii i?eaeaeathuae e?aaeeou iaaeaeoia?iaeiuo oeiainiauo
i?aaiecaoeee oiieeaiie i?iiuoeaiiinoe ninoaaeyao eeoue 46,5%. A iauai
iauaia eiino?aiiuo eiaanoeoeee, aeiaeaiiuo a ?inneeneoth oiieeaioth
i?iiuoeaiiinoue ia eiiaoe 1996 a., e?aaeeou iaaeaeoia?iaeiuo oeiainiauo
i?aaiecaoeee ninoaaeytho 42,2% (ni. Aeeaa?aiio 5). Anee ia o/eouaaoue
e?aaeeou, i?aaeinoaaeaiiua iaaeaeoia?iaeiuie oeiainiauie i?aaiecaoeeyie,
oi aeiey oiieeaiie i?iiuoeaiiinoe iaeiieaiiuo a ?innee eiino?aiiuo
eiaanoeoeeyo ieaaeaony cia/eoaeueii ieaea. A oiaea a?aiy ec anao
io?aneae i?iiuoeaiiinoe eiaiii oiieeaiay eiaao iaeaieueoea ia?niaeoeau
aeey i?eaea/aiey ianooaaiuo eaieoaeiaeiaeaiee ec-ca ?oaaaea. Iaeiaei,
iioaioeeae i?eaeaeaoaeueiinoe yoie io?anee aeey /anoiuo eiaanoi?ia iiea
ia ?aaeeciaai ec-ca iaaeinoaoi/iie caeiiiaeaoaeueii-ii?iaoeaiie aacu e
iaio?aaioaiiinoe iaoaieciia ?aaeecaoeee oaea i?eiyouo caeiiiaeaoaeueiuo
e ii?iaoeaiuo aeieoiaioia a yoie noa?a.

Ii ia?a ia/aea ?aaio, ?aaeaiaioe?oaiuo niaeaoaieyie ii ?acaeaeo
i?iaeoeoeee, neaaeoao iaeeaeaoue ?aceiai ?inoa i?yiuo eiino?aiiuo
eiaanoeoeee a oiieeaioth i?iiuoeaiiinoue e, eae neaaenoaea, oaaee/aiea
aa aeiee eae a i?yiuo eiaanoeoeeyo oae e a iauai iauaia.

Ii?ooaeueiua eiaanoi?u i?aaeii/eoatho aeeaaeuaaoue n?aaenoaa a
oeiainiai-e?aaeeoioth noa?o e iauoth eiiia?/aneoth aeayoaeueiinoue – a
eiaanoeoeeiiiua oiiaeu, ?aeeaiiua, ia?eaoeiaiaua e o. i. oe?iu. Eioa?an
ii?ooaeueiuo eiaanoi?ia aucuaatho oaeaea i?aaei?eyoey ieuaaeoniaie,
iaoaeeo?ae/aneie e iaoaeeiia?aaaouaathuae i?iiuoeaiiinoe. A oiaea a?aiy
iauaiu ii?ooaeueiuo eiaanoeoeee iiea aua neeoeii iaeu, /oiau ia iniiaa
neiaeeaoaainy eo ?ani?aaeaeaiey aeaeaoue eaeea-eeai i?iaiicu. Aiaeec
iieacuaaao a oeaeii oneeeaathuothny oaiaeaioeeth e io?uao eiino?aiiuo
eiaanoeoeee io ?aaeueiiai naeoi?a yeiiiieee. N iaeiie noi?iiu, aeanoeia
iaeiaiaia a?aiy, iayniinoue caeiiiaeaoaeuenoaa, ieceee ieaoaaeaniiniaiue
ni?in i?aaei?eyoee e ianaeaiey, aunieay e?eieiiaaiiinoue aeaeatho
iaauaiaeiui ?acaeoea i?iecaiaenoaa a ?innee. Eae neaaenoaea, iaoo
yeiiiieeo i?aaeii/eoatho e?aaeeoiaaoue. N ae?oaie noi?iiu, ?uiie
ainoaea?noaaiiuo oeaiiuo aoiaa “ioea/eaaao” ia naay /anoue eaieoaeia,
eioi?ua iiaee au auoue aeiaeaiu a i?iiuoeaiiinoue.

2.3.?acaeoea ?aaeiiaeueiuo ?uieia eiino?aiiuo eiaanoeoeee a ?innee.
Ninoiyiea e oaiaeaioeee.

Aeey ?aaeiiaeueiiai ?ani?aaeaeaiey eiino?aiiuo eiaanoeoeee a ?innee
oa?aeoa?ia aunieay eiioeaio?aoeey – ia 8 ?aaeiiia i?eoiaeeony 76,3% anao
eiaanoeoeee, iaeiieaiiuo ia eiiaoe 1996 a. (ni. aeeaa?aiio 6). Iao?oaeii
caiaoeoue, /oi ?aaeiiaeueiia ?ani?aaeaeaiea io?aaeaao io?aneaaua
i?aaeii/oaiey eiino?aiiuo eiaanoi?ia – iniiaiua eaieoaeu iai?aaeythony a
e?oiiua oeaio?u n ?acaeoie oeiainiai-e?aaeeoiie nenoaiie e n?aaieoaeueii
aieaa aunieei ieaoaaeaniiniaiui ni?inii ianaeaiey ia oiaa?u e oneoae
(Iineianeee ?aaeii, Naieo-Iaoa?ao?a) e nu?ueaaua iaeanoe (Othiaineay,
A?oaiaaeueneay, Eiie, Oaoa?noai, I?eii?uea).

A oi aea a?aiy iaiaoiaeeii eiaoue a aeaeo, /oi auaiaeu i n?aaieoaeueiie
i?eaeaeaoaeueiinoe ?aaeiiia e io?aneae ia iniiaa neiaeeaoaainy
?ani?aaeaeaiey ii iauaio aeiaeaiiiai eaieoaea iiaoo ieacaoueny
iaaeinoiaa?iuie, iineieueeo iinooieaiea n?aaenoa ii oiio eee eiiio
e?oiiiio i?iaeoo iiaeao cia/eoaeueii naeaeiooue anth ea?oeio e,
?anniao?eaaaiia aia aeeeoaeueiie ia?niaeoeau, cia/eoaeueii aa eneaceoue.
Oae, a 1994 a. 42% eiaanoeoeee i?eoeinue ia A?oaiaaeueneoth iaeanoue,
/oi auei aucaaii iieo/aieai e?aaeeoa aeey oiieeaiie i?iiuoeaiiinoe ii
eeiee iaaeaeoia?iaeiuo oeiainiauo i?aaiecaoeee. Yoi i?eaaei e
oaaee/aieth aeiee A?oaiaaeueneie iaeanoe a iaeiieaiiuo eiaanoeoeeyo ia
1.01.96 aei 18%, iaeiaei iinea i?ioiaeaeaiey e?aaeeoiuo noii aieueoa
e?oiiuo eiaanoi?ia a iaeanoue ia iinooiaei e aa aeiey a iaeiieaiiuo
eiaanoeoeeyo ia ia/aei oaeouaai aiaea nieceeanue aei 3,1%.

Anee ioeaieaaoue ?aaeiiaeueioth i?eaeaeaoaeueiinoue ii ?ani?aaeaeaieth
iauaai iauaia eiino?aiiuo eiaanoeoeee, iiaeii caiaoeoue yaioth e
onoie/eaoth oaiaeaioeeth e oaaee/aieth a ieo aeiee Iineau – ii eoiaai
1996 aiaea ia Iineao i?eoeinue 65,5% anao iinooieaoeo eiaanoeoeee e
47,9% iaeiieaiiuo (a iaeiieaiiuo ia 1.01.96 – 31,4%), a oaeaea iieiaeia
anao ca?aaeno?e?iaaiiuo niaianoiuo e eiino?aiiuo i?aaei?eyoee. A oiaea
a?aiy aiaeec no?oeoo?u eiaanoeoeee a nu?ueaauo ?aaeiiao iieacuaaao, /oi
cia/eoaeueioth eo aeieth iaania/eee e?aaeeou iaaeaeoia?iaeiuo oeiainiauo
i?aaiecaoeee (ni. aeeaa?aiio 7). Oae a A?oaiaaeueneie iaeanoe e?aaeeou
iaaeaeoia?iaeiuo oeiainiauo i?aaiecaoeee ninoaaeee 86,2% eiino?aiiuo
eiaanoeoeee, iaeiieaiiuo ia eiiaoe 1996 a., a Othiaineie iaeanoe –
37,3%, a Oiineie iaeanoe – 33.9%, Oaoa?noaia – 27,4% e o. ae.

Oaeei ia?acii, ?aaeueiue ?ac?ua a i?eaeaeaoaeueiinoe Iineau n
inoaeueiuie ?aaeiiaie ieacuaaaony aua aieaa nouanoaaiiui, a
i?eaeaeaoaeueiinoue nu?ueaauo ?aaeiiia aeey e?oiiuo /anoiuo eiiiaiee –
ia?aaeeciaaiiie.

Neaaeoao o/eouaaoue, iaeiaei, /oi oaaee/aiey i?eoiea eiino?aiiuo
eiaanoeoeee a Iineao a cia/eoaeueiie ia?a iaania/eaaaony ca n/ao oao
naiuo “i?i/eo” eiaanoeoeee, eioi?ua ia iiaoo ieacaoueny nouanoaaiiui
aeeaaeii a iiaeuai yeiiiieee: anee a iaeiieaiiuo ia ia/aei 1996 a. a
Iineaa eiaanoeoeeyo aeiey “i?i/eo” ninoaaeyao i?eia?ii o?aoue, oi a
iinooieaoeo a 1996 a. iie aeaee oaea aieaa 75% anaai i?eoiea.

*oiau iieo/eoue aaeaeaaoioth ioeaieo noaiaie oaeouae i?eaeaeaoaeueiinoe
?aaeiiia aeey ianiaeoeyoeaiiai /anoiiai eaieoaea, iu ni/ee
oeaeaniia?aciui ia o/eouaaoue “i?i/ea” eiaanoeoeee e ninoaaeee ?aeoeia
i?eaeaeaoaeueiinoe ?aaeiiia ioaeaeueii aeey i?yiuo eiaanoi?ia, a oaeaea
(aeey n?aaiaiey) – aeey ii?ooaeueiuo. ?aeoeia aue ninoaaeai ia iniiaa
aeaiiuo i aeiea ?aaeiia a iauai iauaia eiino?aiiuo eiaanoeoeee aeaiiiai
aeaea, iaeiieaiiuo ia eiiaoe 1996 a., aiaeiae/ii oiio, eae yoi auei
naeaeaii aeey io?aneae.

Oaaeeoea 2.3.1.

?aaeiiu, iaeaieaa i?eaeaeaoaeueiua aeey i?yiuo eiaanoi?ia (a % io iauaai
iauaia i?yiuo eiaanoeoeee, iaeiieaiiuo ia 1.01.1997)?aaeiiu, iaeaieaa
i?eaeaeaoaeueiua aeey ii?ooaeueiuo eiaanoi?ia (a % io iauaai iauaia
ii?ooaeueiuo eiaanoeoeee, iaeiieaiiuo ia
1.01.1997)Iineaa35,1Iineaa67,3Iineianeay iaeanoue11,8Iiaai?iaeneay
iaeanoue13,2Naieo-Iaoa?ao?a10,0Naia?neay iaeanoue5,1Othiaineay
iaeanoue6,7Ooeueneay iaeanoue4,2Enoi/iee[2]: Eiaanoeoeee a ?innee.1997
– N5-6. -no?.13.

Eoae, Iineaa – iaeaieaa i?eaeaeaoaeueiue ?aaeii ia oieueei aeey
aeiaeaiey ca?oaaaeiuo eaieoaeia a oeaeii, ii e aeey i?yiuo eiaanoi?ia, a
/anoiinoe. A oi aea a?aiy aeey i?yiuo eiaanoi?ia ?ac?ua
i?eaeaeaoaeueiinoe Iineau n ae?oaeie ?aaeiiaie ieacuaaaony ai?acaei
iaiaa nouanoaaiiui, oiaaea eae aeey ii?ooaeueiuo e “i?i/eo” iia
ieacuaaaony iniiaiui iauaeoii aieiaiey. Eiioeaio?aoeey aeoeaiinoe
“i?i/eo” e ii?ooaeueiuo eiaanoi?ia a Iineaa iaoneiaeaia ieceei o?iaiai
?acaeoey aeaeiaie eio?ano?oeoo?u a aieueoeinoaa ?inneeneeo ?aaeiiia. A
ioee/ea io, neaaeai oae, oieaa?naeueiie i?eaeaeaoaeueiinoe Iineau
inoaeueiua ?aaeiiu, i?eaeaeaoaeueiu aeey i?yiuo e ii?ooaeueiuo
eiaanoi?ia nouanoaaiii ii-?aciiio. Aa?iyoii, yoi iaoneiaeaii oai, /oi
i?yiua eiaanoeoeee “neaaeotho” a iniiaiii ca io?aneaaie i?eaioaoeeae
ca?oaaaeiuo eiaanoi?ia a oeaeii, a ?ani?aaeaeaiea ii?ooaeueiuo,
iineieueeo eo iauai aua i/aiue iacia/eoaeai, ii?aaeaeyaony eioa?anii e
iaaieueoiio /eneo eiie?aoiuo i?aaei?eyoee.

Iiaeii iaeeaeaoue, /oi a aeeaeaeoea aiaeu Iineaa inoaiaony iniiaiui
?aaeiiii, a eioi?ue aoaeoo aeeaaeuaaoueny “i?i/ea” e ii?ooaeueiua
eiaanoeoeee. A oi aea a?aiy ii ia?a ?acaeoey aeaeiaie eio?ano?oeoo?u e
iaaeaeoia?iaeiuo naycae ?aaeiiia, eiathueo i?aaei?eyoey, niiniaiua
caeioa?aniaaoue ii?ooaeueiuo eiaanoi?ia.

A ?aaeiiaeueiii aea ?ani?aaeaeaiee i?yiuo (eae, ai?i/ai, e iauaai iauaia
eiino?aiiuo eiaanoeoeee) neaaeoao iaeeaeaoue nouanoaaiiiai oaaee/aiey
aeiee nu?ueaauo ?aaeiiia, eioi?ua, aa?iyoii, auoaniyo Iineao n ia?aiai
ianoa. Oae, ia oneiaeyo ?acaeaea i?iaeoeoeee i?e o/anoee eiino?aiiuo
oe?i e eiiiaiee a Naoaeeineie iaeanoe e ?anioaeeea Eiie oaea ia/aoa
?aaeecaoeey o?ao e?oiiiianooaaiuo i?iaeoia, iauee iauai eiaanoeoeee ii
eioi?ui ninoaaeo 28 ie?ae. aeiee. Yoi i?iaeou “Naoaeei – 1” (n o/anoeai
eiiiaiee “Yenii”, NOA e “Niaeaei”, ssiiiey), “Naoaeei – 2” (n o/anoeai
yiiineeo eiiiaiee “Ieoeoe”, “Ieoeoaene”, aia?eeaineeo “Ia?aoii”,
aieeaiaeneie “Oaee”) e “I?iaeo Oa?ueyaeineiai ianoi?iaeaeaiey iaooe” (n
o/anoeai o?aioeocneie eiiiaiee “Oioaeue”). A iauee iauai eiaanoeoeee
oieueei a aeiau/o iaooe e aaca ii anai iiaeaioaaeeaaaiui niaeaoaieyi
i?aauneo, ii ioeaieai yenia?oia, 70 ie?ae. aeiee. ni n?ieii inaiaiey 25
– 30 eao.

A oi aea a?aiy aeaiiuo ia iauai iauaia aeiaeaiiuo eiino?aiiuo
eiaanoeoeee ia anaaaea aeinoaoi/ii, /oiau noaeeoue i ?iee, eioi?oth
eiino?aiiua eiaanoeoeee ea?atho a ?aaeueiii naeoi?a yeiiiieee aeaiiiai
?aaeiia. Iiyoiio aeiiieieoaeueii ?anniio?ei aeeiaieeo eaieoaeueiuo
aeiaeaiee niaianoiuo e eiino?aiiuo i?aaei?eyoee ii ioaeaeueiui ?aaeiiai
?innee, aeey /aai eaieoaeueiua aeiaeaiey auee ia?an/eoaiu a niiinoaaeiua
oeaiu. Oaeaea ioeaieaaeanue aeiey ?aaeiia a iauai iauaia
eaieoaeiaeiaeaiee niaianoiuo e eiino?aiiuo i?aaei?eyoee e aeiey
eaiaeiaeaiee niaianoiuo e eiino?aiiuo i?aaei?eyoee a iauai iauaia
eaieoaeueiuo aeiaeaiee ii ioaeaeueiui ?aaeiiai.

?ac?aaioaiiay Ieienoa?noaii yeiiiieee Eiiieaeniay i?ia?aiia
noeioee?iaaiey ioa/anoaaiiuo e eiino?aiiuo eiaanoeoeee i?aaeoniao?eaaao
a ia?niaeoeaa ?ino aeiee eiino?aiiuo eiaanoeoeee a iauai iauaia
eaieoaeueiuo aeiaeaiee aei 10%. A i?eioeeia yoi aiieia ?aaeueii.

E ia/aeo 90-o aiaeia aeiey eiino?aiiuo eiaanoeoeee a oeiaine?iaaiee
aaeiauo aioo?aiieo eaieoaeiaeiaeaiee caiaoii ?acee/aeanue ii ?acee/iui
no?aiai. Iia aeinoeaaea 5% a 46 no?aiao, oaeeo eae O?aioeey, Aeaiey,
Eoaeey, Aa?iaiey; 5,1-10% – a 24 no?aiao, n?aaee eioi?uo – NOA, Eniaiey,
A?aoeey, Eieoiaey, e i?aauoaea 20% a Aionaaia, Neiaaio?a, Naaceeaiaea.
Iaeiaei i?ienoiaeyuaa naaiaeiy a ?innee iiauoaiea aeiee eiino?aiiuo
eiaanoeoeee a iauai iauaia eaieoaeueiuo aeiaeaiee naycaii ia n ?inoii
eiino?aiiuo eiaanoeoeee, a ni nieaeaieai eiaanoeoeeiiiie aeoeaiinoe
aioo?e no?aiu.

Aiaeec iieacae, /oi a 1996 a. iauai eaieoaeiaeiaeaiee niaianoiuo e
eiino?aiiuo i?aaei?eyoee nie?aoeeny ii n?aaiaieth n 1995 a. a 41
?aaeiia, i?eoii ii anai yeiiiie/aneei ?aeiiai ca eneeth/aieai
Oeaio?aeueiiai, Aieai-Ayoneiai, Caiaaeii-Neae?neiai e
Aeaeueiaainoi/iiai, a a 38 ?aaeiiao ii aue ieaea o?iaiy 1993 a.
Eaieoaeueiua aeiaeaiey niaianoiuo e eiino?aiiuo i?aaei?eyoee ca n/ao
eiino?aiiuo eiaanoeoeee nie?aoeeenue a 1996 a. ii n?aaiaieth n 1995 a. a
30 ?aaeiiao, i?eoii ii anai yeiiiie/aneei ?aeiiai, e?iia
Oeaio?aeueii-*a?iicaiiiai, Naaa?i-Eaaeacneiai, O?aeueneiai e
Aeaeueiaainoi/iiai.

Ianiio?y ia iauoth ieceoth aeieth niaianoiuo e eiino?aiiuo i?aaei?eyoee
a iauai iauaia eniieueciaaiiuo eaieoaeueiuo aeiaeaiee (3,1 – 3,5% a
n?aaeiai ii ?innee a 1996 a.) a ?yaea ?aaeiiia iia oaea aeinoeaea ieaiee
a 10% (ni. Aeeaa?aiio 9). Iaeaieueooth aeieth eaiaeiaeaiey niaianoiuo e
eiino?aiiuo i?aaei?eyoee ninoaaeee a Iaiaoeeii aaoiiiiiii ie?oaa (81%),
Iiaai?iaeneie iaeanoe (31,2%), a Ei?yeneii aaoiiiiiii ie?oaa (21%). Oai
aea iaaethaeaeanue e iaeaieueoay aeiey eaiaeiaeaiee niaianoiuo e
eiino?aiiuo i?aaei?eyoee ca n/ao eiino?aiiuo eiaanoeoeee a iauai iauaia
eaiaeiaeaiee a ?aaeii: a Iaiaoeeii AI – 78,9%, a Iiaai?iaeneie iaeanoe –
30%, Ei?yeneii AI – 21,1%. A oi aea a?aiy a iaeioi?uo ?aaeiiao i?e
aunieie aeiea eaiaeiaeaiee niaianoiuo e eiino?aiiuo i?aaei?eyoee a iauai
eo iauaia, aeiey eaiaeiaeaiee ca n/ao eiino?aiiuo eiaanoeoeee
oaea?aeeaaeanue ia ieceii o?iaia. Oae, A Ieaeaai?iaeneie iaeanoe, aaea
eaiaeiaeaiey niaianoiuo e eiino?aiiuo i?aaei?eyoee aeinoeaee a 1996 a.
20,3%, eaiaeiaeaiey niaianoiuo e eiino?aiiuo i?aaei?eyoee ca n/ao
eiino?aiiuo eiaanoeoeee ninoaaeee eeoue 2,5% io iauaai iauaia
eniieueciaaiiuo a ?aaeiia eaieoaeueiuo aeiaeaiee, A Oaeanee – 10% e 0%
niioaaonoaaiii.

A eaieoaeueiuo aeiaeaieyo niaianoiuo e eiino?aiiuo i?aaei?eyoee ieaaii,
ii onoie/eai, iiauoaaony aeiey Iineau – n 15,9% a 1993 a. aei 29% a 1996
a. Iaeiaei, a iauai iauaia eaieoaeueiuo aeiaeaiee ii Iineaa aeiey
eaiaeiaeaiee niaianoiuo e eiino?aiiuo i?aaei?eyoee ia i/aiue aaeeea –
8,6% a 1996 a., a eaiaeiaeaiee NI ca n/ao eiino?aiiuo eiaanoeoeee –
eeoue 2,2% niioaaonoaaiii. Iiieii Iineau, iaeaieueoay aeiey a iauai
iauaia eaiaeiaeaiee niaianoiuo e eiino?aiiuo i?aaei?eyoee i?eoeanue a
1996 a. ia Ieaeaai?iaeneoth (10,8%) e Othiaineoth (9%) iaeanoe.

Oaeei ia?acii, ?aaeiiaie, iaeaieaa i?aoniaaoeie a i?eaea/aiee
eiino?aiiuo eiaanoeoeee, iiaeii n/eoaoue neaaeothuea:

1)ia iniiaaiee aeaiiuo i aeiea ?aaeiia a iauai iauaia eiino?aiiuo
eiaanoeoeee, iaeiieaiiuo ia eiiaoe 1996 a. – Iineaa, Iineianeay
iaeanoue, Othiaineay iaeanoue, Naieo-Iaoa?ao?a;

2)ia iniiaaiee aeaiiuo i aeiea ?aaeiia a iauai iauaia e?aaeeoia,
i?aaeinoaaeaiiuo ?innee iaaeaeoia?iaeiuie oeiainiauie i?aaiecaoeeyie ii
ninoiyieth ia 1.01.1997 -A?oaiaaeueneay iaeanoue, Othiaineay iaeanoue,
Iineaa, Ieaeaai?iaeneay iaeanoue, Iaaaaeaineay iaeanoue, Oaoa?noai,
I?eii?neee e?ae;

3)ia iniiaaiee aeaiiuo i aeiea eaieoaeueiuo aeiaeaiee niaianoiuo e
eiino?aiiuo i?aaei?eyoee a iauai iauaia eniieueciaaiiuo a ?aaeiia
eaiaeiaeaiee a 1996 a. – Iiaai?iaeneay iaeanoue, Ei?yeneee AI
(Eai/aoneay iaeanoue), Ieaeaai?iaeneay iaeanoue, Iaaaaeaineay iaeanoue,
I?eii?neee e?ae, A?oaiaaeueneay iaeanoue (a o. /. Iaiaoeeee AI),
I?eianeay iaeanoue, ?anioaeeea Oaeaney.

Eaeea aea oaeoi?u ii?aaeaeytho naaiaeiy oniaoiia i?eaea/aiea eiino?aiiuo
eiaanoeoeee a oio eee eiie ?aaeii? Ioaao ia yoio aii?in iiaeao auoue
iieo/ai, aa?iyoii, auyaeaieai iaueo i/aaeaeiuo i?eciaeia aeey eaaeaeie
ec o?ao auoaia?a/eneaiiuo a?oii ?aaeiiia.

*oi eanaaony iauaai iauaia eiaanoeoeee, ianooaaiinoue oeiainiauo
aeeaaiee ii?aaeaeyaony, aa?iyoii, a ia?aoth i/a?aaeue aunieei o?iaiai
?acaeoey i?iecaiaenoaaiiie, o?ainii?oiie, nioeeaeueiie e aeaeiaie
eio?ano?oeoo?u, a oaeaea iaee/eai ioiineoaeueii onoie/eaiai aioo?aiiaai
ieaoaaeaniiniaiiai ni?ina – eiaiii yoe i?eciaee yaeythony iaueie aeey
ninoaaeythueo iniiao ia?aie a?oiiu Iineianeiai ?aaeiia e
Naieo-Iaoa?ao?aa.

Aieueoeinoai ?aaeiiia aoi?ie a?oiiu, ia eioi?ua i?eoaeny iniiaiie iauai
e?aaeeoia, i?aaeinoaaeaiiuo iaaeaeoia?iaeiuie oeiainiauie i?aaiecaoeeyie
– nu?ueaaua. N/eoaaony, /oi a nu?ueaauo io?aneyo e, niioaaonoaaiii, a
?aaeiiao, iaeaaeathueo aiaaouie i?e?iaeiuie ?ano?naie, caeiaeai
iioaioeeae ia/aea yeiiiie/aneiai aic?iaeaeaiey ?innee. Iiyoiio
iaaeaeoia?iaeiua oeiainiaua i?aaiecaoeee ecae?atho aeey e?aaeeoiaaiey
?aaeiiu e i?iaeou, niiniaiua, ii eo iiaieth, yoio iioaioeeae
?aaeeciaaoue. A ia?aoth i/a?aaeue ?a/ue eaeao i iaooaaaciaeiauaathueo
?aaeiiao ?innee. Oniaoe ?aaeiiia a i?eaea/aiee e?aaeeoia,
i?aaeinoaaeyaiuo iaaeaeoia?iaeiuie oeiainiauie i?aaiecaoeeyie, aua ia
icia/aao aunieie aeoeaiinoe a yoeo ?aaeiiao /anoiuo eiino?aiiuo
eiaanoi?ia. A oi aea a?aiy i?e i?i/eo ?aaiuo oneiaeyo aeiaa?ea /anoiuo
ca?oaaaeiuo eiaanoi?ia e ?aaeiiai, iieo/eaoei e?aaeeou iaaeaeoia?iaeiuo
oeiainiauo i?aaiecaoeee, aoaeao auoa.

Aeaiiua i aeiea eaieoaeueiuo aeiaeaiee niaianoiuo e eiino?aiiuo
i?aaei?eyoee a iauai iauaia eaiaeiaeaiee a ?aaeii ia naaiaeiyoiee aeaiue
yaeythony iaeaieaa y?eei e?eoa?eai oniaoiinoe i?eaea/aiey eiino?aiiiai
eaieoaea. Aeey aeinoeaeaiey iaeeo/oeo ?acoeueoaoia ii yoiio iieacaoaeth
ia?ainoaiaiiia cia/aiea i?eia?aoaao iaiin?aaenoaaiii iieeoeea ?aaeiia ii
i?eaea/aieth eiino?aiiuo eiaanoi?ia. Oae, a caieiathuae ia?aia ianoi ii
oeacaiiiio iieacaoaeth Iiaai?iaeneie iaeanoe eiaanoi?ai
i?aaeinoaaeythony cia/eoaeueiua eueaiou.

A oi aea a?aiy a aeeaeaeoea aiaeu ?aoathuaa cia/aiea a i?eaea/aiee
eiino?aiiuo eiaanoeoeee aoaeao ea?aoue ia iieeoeea ?aaeiiaeueiuo
aeanoae, a ?ano?niue iioaioeeae ?aaeiiia. Oaia?ue ia oaaea?aeueiii
o?iaia aeoeaece?iaaeanue ?aaioa ii caeiiiaeaoaeueiiio ioi?ieaieth
i?eaea/aiey eiino?aiiiai eaieoaea a nu?ueaaua io?anee. I?eiyo caeii “I
niaeaoaieyo i ?acaeaea i?iaeoeoeee”; i?eiyo a ia?aii /oaiee e
iiaeaioiaeai e ?anniio?aieth ai aoi?ii /oaiee caeiiii?iaeo “I
eiioeanneiiiuo aeiaiai?ao, caeeth/aaiuo n ?inneeneeie e eiino?aiiuie
eiaanoi?aie”. A iaa n.a. Ainaeoia i?eiyea a ia?aii /oaiee caeiiii?iaeo
“I ia?a/ia o/anoeia iaae?, i?aai iieueciaaiey eioi?uie iiaeao auoue
i?aaeinoaaeaii ia oneiaeyo ?acaeaea i?iaeoeoeee”. Ii niiauaieyi ia/aoe,
a ia?a/aiue aioee iyoue iaooaaaciauo ianoi?iaeaeaiee – Naiioei?,
E?aniieaieineia, ?iiaoeeineia, I?e?aceiiiia e ianoi?iaeaeaiey naaa?iie
/anoe ino?iaa Naoaeei, a oaeaea sseiaeaaneia aeaeacii-?oaeiia
ianoi?iaeaeaiea e cieioiiiniay Eo?aaiaoneay a?oiia. Oaeei ia?acii,
ia?niaeoeau i?eoiea eiino?aiiiai eaieoaea a nu?ueaaua ?aaeiiu
i?eia?aoatho eiie?aoiua i/a?oaiey. Nicaeaiea iaiaoiaeeiie
caeiiiaeaoaeueiie aacu iicaieeo ?aaeeciaaoue iioaioeeae eiaanoeoeeiiiie
i?eaeaeaoaeueiinoe aiaaouo ?ano?naie iaeanoae ?innee.

Oainu aea ?aaeiiia, ia oa??eoi?ee eioi?uo iao ianoi?iaeaeaiee
iaaeaeoia?iaeiiai cia/aiey, ia aeoeaiia i?eaea/aiea eiino?aiiuo
eiaanoeoeee inoathony neaauie. Iaeiaei, a iineaaeiaa a?aiy aicieeea
oi/ea c?aiey, niaeanii eioi?ie iaia/aaiua e ?aaeecaoeee nu?ueaaua
i?iaeou niiniaiu aeaoue oie/ie aeoeaiiio i?eoieo eaieoaeiaeiaeaiee a
iaoeiino?ieoaeueiua ?aaeiiu – a ia?aoth i/a?aaeue a iaeanoe, aaea iiiaee
iiae eiiaa?neth aunieioaoiieiae/iua i?iecaiaenoaa auaoaai AIE –
i?aaei?eyoey Naaa?iaeaeinea, Aeaoa?eiao?aa, Ieaeiaai Iiaai?iaea,
Eiiniiieuenea-ia -Aio?a e ae?.

*oiau aeaoue oie/ie aeoeaecaoeee eiaanoeoeeiiiuo i?ioeannia a ?aaeiiao,
i?eeaaathueo e nu?ueaaui, oneiaey eiioeanneiiiuo aeiaiai?ia e niaeaoaiee
i ?acaeaea i?iaeoeoeee aeieaeiu iaania/eaaoue iaeneiaeueiia i?eaea/aiea
?inneeneeo i?aaei?eyoee e ?aaeecaoeee i?iaeoia (eniieueciaaiea
iiuiinoae ia?a?aaaouaathueo caaiaeia, ?aciauaiea ia eiieo?niie iniiaa
caeacia ia iai?oaeiaaiea, i?iecaiaenoai ?aaio e o.i.).

I?e yoii neaaeoao eiaoue a aeaeo, /oi caeacu iai?oaeiaaiey aeey
aeiauaathuae i?iiuoeaiiinoe ?aaeueii niiniaiu iaania/eoue ?aaioie eeoue
/anoue iaoeiino?ieoaeueiiai naeoi?a – oeie/aneia, iaooaoeie/aneia e
oyaeaeia iaoeiino?iaiea, a oaeaea naycaiiua n yoeie aeaeaie
iaoeiino?iaiey iaoaeeo?ae/aneea e iaoaeeiia?aaaouaathuea i?aaei?eyoey.
Ino?i ioaeaeathueany a eaieoaeiaeiaeaieyo ?aaeiiu oeaio?aeueiie ?innee a
aeeaeaeoea aiaeu a?yae ee iieo/ao e?oiiua eiino?aiiua eiaanoeoeee e
iiaua ?aai/ea ianoa. Iineieueeo cia/eoaeueiiai ?inoa iio?aaeoaeueneiai
ni?ina ia aioo?aiiai ?uiea ia iaeeaeaaony, ia i?iecieaeao nouanoaaiiiai
oaaee/aiey eaieoaeiaeiaeaiee a eaaeoth i?iiuoeaiiinoue, naeueneia
oicyenoai.

Oe?ieee aeiione eiino?aiiiai eaieoaea a aeiauaathuea io?anee iiaeao
i?eaanoe e iinoaiaiiiio nie?auaieth iaoeeiiaeueiie nu?ueaaie aacu,
iiyoiio ii aeieaeai ?anniao?eaaoueny eeoue eae auioaeaeaiiay ia?a. A
yoie nayce aieueoia cia/aiea i?eia?aoaao yooaeoeaiia eniieueciaaiea
ainoaea?noaii e aai noauaeoaie aeioiaeia, iieo/aaiuo io eiioeanneiiiuo
aeiaiai?ia e niaeaoaiee i ?acaeaea i?iaeoeoeee.

Eiaaea ?innee oaeanony aeiaeoueny onoie/eaiai ?inoa AAI e aioo?aiieo
eaieoaeiaeiaeaiee a oa/aiee ianeieueeeo eao iiae?yae, a oii /enea e a ia
nu?ueaauo ?aaeiiao iiaeii aoaeao iaeeaeaoue iaeeaeaiey i?eoiea a
?aaeueiue naeoi? yeiiiieee eiino?aiiiai eaieoaea, ia i?eaioe?iaaiiiai ia
auaic i?e?iaeiuo ?ano?nia. N yoiai iiiaioa aeiione eiino?aiiuo
eiaanoi?ia a aeiauaathuea io?anee neaaeoao, aa?iyoii, ia?aie/eoue e?oaii
i?iaeoia, ii eioi?ui eiioeanneiiiua aeiaiai?u e niaeaoaiey i ?acaeaea
i?iaeoeoeee auee caeeth/aiu ?aiaa.

Ii oae eee eia/a aeey noeioee?iaaiey i?eoiea eiino?aiiiai eaieoaea a ia
nu?ueaaua io?anee e ?aaeiiu iaiaoiaeeii aeoeaiay iieeoeea ii
i?eaea/aieth eiaanoi?ia. A /anoiinoe, auei au oeaeaniia?acii a
o?oaeiecaaoi/iuo ?aaeiiao i?aaeinoaaeyoue eiaanoi?ai, eae eiino?aiiui,
oae e ioa/anoaaiiui, eueaiou ca nicaeaiea e nio?aiaiea ?aai/eo iano (a
caaeneiinoe io eo eiee/anoaa) aieioue aei iieiiai inaiaiaeaeaiey io
iaeiaia.

I. 2.3.1. Eiino?aiiua eiaanoeoeee a Neae?e.

Noaaeeecaoeey yeiiiieee, aa no?oeoo?iay ia?ano?ieea e iineaaeothuaa
?acaeoea iaaiciiaeiu aac aeoeaecaoeee eiaanoeoeeiiiie aeayoaeueiinoe –
eae a ianooaaao iaoeeiiaeueiiai oicyenoaa, oae e a ioaeaeueii acyoii
?aaeiia. Anoanoaaiii, i?aaeaea anaai aii?in noieo i iaiaoiaeeiinoe
iiaeeecaoeee e aieaa yooaeoeaiiai eniieueciaaiey aioo?aiieo ?ano?nia.
Aianoa n oai aaaeioth ?ieue iiaoo nua?aoue e eiino?aiiua eiaanoeoeee.

Aeey iaoae no?aiu eiino?aiiua eiaanoeoeee i?aaenoaaeytho niaie
aeinoaoi/ii iiaoth oi?io iaaeaeoia?iaeiuo yeiiiie/aneeo naycae. Eeoue
ia/eiay n 1987 a., iinea ii/oe 60-eaoiaai ia?a?uaa, ia oa??eoi?eth NNN?,
a caoai noaa?aiiie ?innee noae aeiioneaoueny caiaaeiue eaieoae. Aeaaea a
oneiaeyo yeiiiie/aneiai niaaea e nioeeaeueii-iieeoe/aneie
ianoaaeeueiinoe, yaeythueony iaecaaaeiuie i?e ia?aoiaea e ?uii/iie
yeiiiieea, aeoeaiinoue eiino?aiiuo eiaanoi?ia ia ?inneeneii ?uiea ?anoao
aiae io aiaea.

Eae noa?a i?eeiaeaiey eaieoaea, Neae?ue ?aniieaaaao cia/eoaeueiui
iioaioeeaeii: aiaaoaeoea i?e?iaeiua ?ano?nu, eaaeeoeoee?iaaiiay e i?e
yoii aeaoaaay ?aai/ay neea, ?acaeoay i?iiuoeaiiinoue, aeeth/ay
iaoeiino?iaiea, iai?iiioth, oeie/aneoth e ae?oaea io?anee ( iniaaiii
thaeiay ciia Neae?e aaeieue O?ainneaa); aunieee iao/iue iioaioeeae (a
ia?aoth i/a?aaeue e?oiiua iao/iua oeaio?u a Iiaineae?nea e Oiinea);
auaiaeiia aaia?aoe/aneia iieiaeaiea ia iooe ec Aa?iiu a no?aiu
Aceaonei-Oeoiieaaineiai ?aaeiia; ?acaeoay o?ainii?oiay eio?ano?oeoo?a e
o. ae. Iaiaeiaaaeiue oaeoi? e oi, /oi Neae?ue ioiineony e ioiineoaeueii
niieieiui ?aaeiiai n oi/ee c?aiey iaoeeiiaeueiuo ioiioaiee.

Oai ia iaiaa iiea i?aaei?eyoey n eiino?aiiuie eiaanoeoeeyie (IEE)
nicaeathony aeaaiui ia?acii a Iineaa, Naieo-Iaoa?ao?aa e ae?oaeo
ai?iaeao Aa?iiaeneie /anoe ?innee. Iaeiaei ia?iiiue Neae?neee ?aaeii
oaeaea ia/eiaao aoyaeaaoueny a yoio i?ioeann. Oi?iaeueii ia oa??eoi?ee
Neae?e ca?aaeno?e?iaaii iaiiiaei aieaa 6% io iauaai eiee/anoaa
?inneeneeo IEE, oaeoe/anee aea eo cia/eoaeueii aieueoa: iiiaea IEE,
aeaenoaothuea a Neae?e, iniaaiii a aeiauaathueo io?aneyo, eiatho
iineianeee eee naieo-iaoa?ao?aneee th?eaee/aneee aae?an.

Iaeaieaa aeoeaii ca?oaaaeiua oe?iu nicaeatho niaianoiua i?aaei?eyoey a
Iiaineae?neie iaeanoe – ia iaa i?eoiaeeony 17% neae?neeo IEE. Oa??eoi?ey
yoa ia aiaaoa i?e?iaeiuie ?ano?naie, ii iaeanoiie oeaio? Iiaineae?ne
yaeyaony naiui e?oiiui ai?iaeii Neae?e e aaaeiaeoei o?ainii?oiui oceii,
a eioi?ii ia?anaeathony eeth/aaua aeaeaciiaei?iaeiua, aaoiiiaeeueiua,
aicaeooiua e ?a/iua iooe. Aeaaiaea?y naiaio auaiaeiiio aaia?aoe/aneiio
iieiaeaieth e ?acaeoie i?iiuoeaiiinoe Iiaineae?ne noaiiaeony iaeiei ec
aaaeiaeoeo oi?aiauo e oeiainiauo oeaio?ia no?aiu.

Ia aoi?ii ianoa ii /eneo nicaeaiiuo IEE iaoiaeeony Othiaineay iaeanoue –
caeanue iniiaiui oaeoi?ii yaeyaony eiioeaio?aoeey ia oa??eoi?ee iaeanoe
ia?iiiuo caiania oaeaaiaei?iaeiiai nu?uey.

O?aouea ianoi caieiaao Aeoaeneee e?ae, eae e Iiaineae?neay iaeanoue ia
eiathuee cia/eoaeueiuo i?e?iaeii-nu?ueaauo ?ano?nia, ii oai ia iaiaa
iaiaiaaoee oaeea aiaaoua nu?ueai iaeanoe, eae E?eooneay e Eaia?ianeay, a
oaeaea oeaio? neae?neie iaooaoeiee Iineoth iaeanoue. Aeoaeneee e?ae
iieo/ee noaoon naiaiaeiie yeiiiie/aneie ciiu e niioaaonoaaiii eiaao ?yae
eueaio.

Anee ia nu?ueaaua ?aaeiiu Neae?e eeaee?otho ii eiee/anoao niaianoiuo
i?aaei?eyoee, oi nu?ueaaua – ii n?aaeiae aaee/eia onoaaiiai eaieoaea. Ii
yoiio iieacaoaeth eeaea?aie yaeythony Oiineay, Othiaineay, Eaia?ianeay
iaeanoe, E?aniiy?neee e?ae.

Iaeaieaa e?oiiua IEE neiioeaio?e?iaaiu a neae?neii
oiieeaii-yia?aaoe/aneii eiiieaena:

· ?inneenei- eaiaaeneea niaianoiua i?aaei?eyoey “THaaine-O?aieianoa?” e
“Naiioei?-Na?aenec”, ?inneenei-aia?eeaineea “Aaeua ii/e” e
“Aa?ueaaai-iaooue”, ?inneenei-aa?iaineia “Iaeaie-iaooue” a Othiaineie
iaeanoe (aeiau/a iaooe);

· ?inneenei-eaiaaeneea “Aao-O?aieianoa? Na?aenec” e “Aanthaai-Na?aenec”
a Oiineie iaeanoe (oaeaea aeiau/a iaooe);

· ?inneenei-eaiaaeneia “Eocaann-Eaioae” e ?inneenei-aano?eeneia NI
“Eociaoeeay” a Eaia?ianeie iaeanoe (oaieueiay i?iiuoeaiiinoue).

?yae e?oiiuo IEE nicaeaiu a eaniie e aea?aaiia?aaaouaathuae
i?iiuoeaiiinoe- i?aeiouanoaaiii a E?eooneie iaeanoe. Yoi i?aaeaea anaai
?inneenei-yiiineea i?aaei?eyoey “Eae?ia-Oae?eeo” (iaeii ec ia?auo
niaianoiuo i?aaei?eyoee a no?aia) e “Aaeeae”, a oaeaea niaianoiia n
Aaeeeia?eoaieae i?aaei?eyoea “Neaieen-Eioa?iaeoaiae”. N?aaee ae?oaeo
e?oiiuo i?iecaiaenoaaiiuo IEE Neae?e iiaeii oaeaea iacaaoue ?inneenei-
aano?eeneia AI “Eaicieioi” a E?eooneie iaeanoe e ?inneenei-aaeueaeeneia
NI “Aenaia EOAe” a Aeoaeneii e?aa (ia?aaioea aeiacia).

Oaeei ia?acii, na?ueaciua ianooaaiua eiaanoeoeee eaeoo iiea eeoue a
aaeeie/iua, aa?aioe?othuea i?eaueue i?iaeou, oaeea eae aeiau/a e
ia?a?aaioea oaeaaiaei?iaeiiai nu?uey, au?oaea e ia?a?aaioea eana. Aaeaeo
aunieie noaiaie eiaanoeoeeiiiiai ?enea ( yoi oa?aeoa?ii e aeey ?innee a
oeaeii, e aeey Neae?e eae aa /anoe) i?aiaeaaeathuay eeiey iiaaaeaiey
eiioe?i iiea – “canoieaeoue” ianoi ia iioaioeeaeueii ia?niaeoeaiii ?uiea
iin?aaenoaii iaaieueoeo eiaanoeoeee a ia eaieoaeiaieea noa?u n auno?ie
ioaea/ae.

Io?aneaaay no?oeoo?a IEE a Neae?e a oeaeii aeecea e iaua?inneeneie i?e
ianeieueei aieaa aunieie aeiea i?iiuoeaiiinoe e niioaaonoaaiii aieaa
ieceie – oi?aiaee e i?i/eo io?aneae. Niauaiea a iieueco i?iiuoeaiiinoe
i?ienoiaeeo ca n/ao nu?ueaauo io?aneae, a ia?aoth i/a?aaeue
eaniie/aea?aaiia?aaaouaathuae e oiieeaiie i?iiuoeaiiinoe. Oae, ia
iaoeiino?iaiea a Neae?e i?eoiaeeony 20% i?iiuoeaiiuo IEE, a ia
eanioth/aea?aaiia?aaaouaathuoth e oiieeaioth io?anee – a noiia 46%
(niioaaonoaaiii 33 e 13%).

Anee ia?aoeoueny e io?aneaaie no?oeoo?a a ?ac?aca iaeanoae Neae?e, oi
nouanoaaiiia i?aauoaiea oaeaeueiiai aana i?iiuoeaiiinoe a iauai
eiee/anoaa nicaeaiiuo IEE ii n?aaiaieth ni n?aaeianeae?neei iieacaoaeai
iaaethaeaaony a nu?ueaauo ?aaeiiao (E?eooneay, *eoeineay iaeanoe,
?anioaeeea Naoa), a nouanoaaiii aieaa ieceee iieacaoaeue – a ia
nu?ueaauo, i?iiuoeaiiuo Iiaineae?neie e Iineie iaeanoyo. Io?aaeatho a
oeaeii i?iecaiaenoaaiioth niaoeeaeecaoeeth ioaeaeueiuo ?aaeiiiaNeae?e e
ii?aaeaeeaoeany e ianoiyuaio iiiaioo io?anee niaoeeaeecaoeeei?iiuoeaiiuo
IEE.

Oaaeeoea 2.3.1.1.

II. Aeiey IEE a io?aneyo niaoeeaeecaoeee, % e iauaio eiee/anoao IEE a
i?iiuoeaiiinoe ?aaeiia*

?aaeii I Io?anee
niaoeeaeecaoeee

Aeoaeneee e?ae iaoeiino?iaiea (26%),
eaniay/aea?aaiia?aaaouaathuay (16%),

eaaeay (16%), ieuaaay
(16%)

E?aniiy?neee e?ae eaniay/aea?aaiia?aaaouaathuay (56%)

E?eooneay iaeanoue eaniay/aea?aaiia?aaaouaathuay (87%)

Eaia?ianeay iaeanoue oiieeaiay (32%), iaoeiino?iaiea
(23%),

eaniay/aea?aaiia?aaaouaathuay (19%)

Iiaineae?neay iaeanoue iaoeiino?iaiea (37%)

Iineay iaeanoue eaniay/aea?aaiia?aaaouaathuay
(16%), eaaeay (11%)

Oiineay iaeanoue iaoeiino?iaiea (35%),
eaniay/aea?aaiia?aaaouaathuay (15%),

ieuaaay (15%)

Othiaineay iaeanoue eaniay/aea?aaiia?aaaouaathuay (46%),
oiieeaiay (21%),

iaoeiino?iaiea (13%),
ieuaaay (10%)

*eoeineay iaeanoue oiieeaiay (50%),
eaniay/aea?aaiia?aaaouaathuay (23%),

iaoeiino?iaiea (13%)

?anioaeeea Ao?yoey eaniay/aea?aaiia?aaaouaathuay (33%),
oeaaoiay iaoaeeo?aey

(18%), i?iiuoeaiiinoue
no?ieiaoa?eaeia (10%), eaaeay (10%)

?anioaeeea Aeoae iaoeiino?iaiea (26%),
eaniay/aea?aaiia?aaaouaathuay (21%),

eaaeay (16%), ieuaaay
(11%)

?anioaeeea Oaeaney eaaeay (41%), oeaaoiay iaoaeeo?aey
(19%), ieuaaay (19%)

?anioaeeea Naoa eaniay/aea?aaiia?aaaouaathuay
(25%), oeaaoiay iaoaeeo?aey (22%)

*Aeaiiua ia eiiaoe 1995 a.

Enoi/iee: ?aaeii: yeiiiieea e nioeeieiaey – 1997 – N1 – N.98.

Aaia?aoey no?ai-ia?oia?ia ii niaianoiui i?aaei?eyoeyi i?aaenoaaeaia
oe?iei, i?aeiouanoaaiii no?aiaie Aa?iiu, Naaa?iie Aia?eee,
Aceaonei-Oeoiieaaineiai ?aaeiia (oaae. 2).

Oaaeeoea 2.3.1.2

III. Aaia?aoey no?ai-ia?oia?ia ii niaianoiui i?aaei?eyoeyi ia eiiaoe
1995 a.

?aaeii I Iniiaiua
no?aiu-ia?oia?u (aeaeueiaa ca?oaaaeuea)

Aeoaeneee e?ae Eeoae, Aa?iaiey, NOA, THaeiay
Ei?ay, Iieueoa

E?aniiy?neee e?ae Aa?iaiey, Aano?ey, Eeoae, NOA,
Aaia?ey

E?eooneay iaeanoue Eeoae, NOA, ssiiiey, Eoaeey,
Aano?ey

Eaia?ianeay iaeanoue Eeoae, Aa?iaiey, NOA, Aano?ey,
Eoaeey

Iiaineae?neay iaeanoue Eeoae, NOA, Aa?iaiey, Aieaa?ey,
Aano?ey

Iineay iaeanoue Aa?iaiey, Eeoae, NOA, Eaiaaea,
O?aioeey

Oiineay iaeanoue Aa?iaiey, Aaeeeia?eoaiey, NOA,
Eeoae, O?aioeey

Othiaineay iaeanoue NOA, Aa?iaiey, Eaiaaea, Aieaa?ey,
Oo?oeey

*eoeineay iaeanoue Eeoae, NOA, Aano?aeey, Aa?iaiey,
Iieueoa

?anioaeeea Ao?yoey Eeoae, Iiiaieey, NOA, THaeiay
Ei?ay, ssiiiey

?anioaeeea Aeoae NOA, Aa?iaiey, THaeiay Ei?ay

?anioaeeea Oaeaney Eeoae, Eoaeey, Iieueoa, NOA,
Oaaeoea?ey

?anioaeeea Naoa NOA, Eeoae, ssiiiey, Eaiaaea

Neae?ue a oeaeii Eeoae, NOA, Aa?iaiey,
Aaeeeia?eoaiey, Aano?ey

?inney a oeaeii NOA, Aa?iaiey, Eeoae,
Oeieyiaeey, Aaeeeia?eoaiey

Enoi/iee: ?aaeii: yeiiiieea e nioeeieiaey – 1997 – N 1 – N. 99.

Iaeaieaa aeoeaiuie ia?oia?aie ii eiee/anoao IEE yaeythony
i?iiuoeaiii ?acaeoua no?aiu Caiaaea, iniaaiii NOA e Aa?iaiey, a oaeaea
Eeoae. Anee auaeaeeoue iyoa?eo no?ai-eeaea?ia ii nicaeaieth IEE,
oi ea?oeia ii iaeanoyi Neae?e, oioy e eiaao eia-eaeea iniaaiiinoe, a
iauai niioaaonoaoao neiaeeaoeiny oaiaeaioeeyi ii anae ?innee.

Ioeaieaay neiaeeaoothny ia oaeouee iiiaio neooaoeeth, iiaeii neacaoue,
/oi iioaioeeaeueiua aiciiaeiinoe Neae?e eae noa?u i?eeiaeaiey eaieoaea
caaeaenoaiaaiu aeaeaei ia iieiinoueth a neeo ?yaea i?e/ei, a ia?aoth
i/a?aaeue iae?iyeiiiie/aneiai e einoeoooeeiiaeueiiai oa?aeoa?a. Oai ia
iaiaa eiaanoeoeeiiiua nayce ?aaeiiia Neae?e eiatho aieueoea ia?niaeoeau.
N iaeiie noi?iiu, a ?innee a iineaaeiaa a?aiy iaiaoeeenue i?eciaee
yeiiiie/aneie noaaeeecaoeee, n ae?oaie noi?iiu, ainoaea?noai eae ia
oaaea?aeueiii, oae e ia ?aaeiiaeueiii o?iaiyo aeaeaao oaae ii oeo/oaieth
eiaanoeoeeiiiiai eeeiaoa e noeioee?iaaieth eiaanoeoeeiiiie aeoeaiinoe, a
oii /enea ii i?eaea/aieth eiino?aiiuo eiaanoi?ia.

Ia eiino?aiiuo eiaanoi?ia ?ani?ino?aiyaony iaoeeiiaeueiue ?aaeei
eiaanoe?iaaiey, i?e/ai IEE eiatho ?yae eueaio (iai?eia?, oaiiaeaiiuo) ii
n?aaiaieth n ioa/anoaaiiuie i?aaei?eyoeyie. E iei oaeaea ia i?eiaiythony
iiaua ii?iaoeaiua aeou, oooaeoathuea oneiaey aeayoaeueiinoe
i?aaei?eyoey. Yoi aeaenoaoao a oa/aiee 3 eao ii ioiioaieth e IEE, oaea
nouanoaiaaaoei ia iiiaio anooieaiey aeaiiuo aeoia a neeo.

A iineaaeiaa a?aiy aeoeaii oi?ie?oaony nenoaia einoeoooia, caieiathueony
eiino?aiiuie eiaanoeoeeyie. Nicaeaiu Iaaeaeoia?iaeiia aaaionoai ii
no?aoiaaieth eiino?aiiuo eiaanoeoeee a ?inneeneie Oaaea?aoeee io
iaeiiia?/aneeo ?eneia, Oeaio? i?iaeoiiai oeiaine?iaaiey eiaanoeoeee,
Aaaionoai oaoie/aneiai niaeaenoaey, ?inneeneay oeiainiaay ei?ii?aoeey,
Ainoaea?noaaiiay eiaanoeoeeiiiay ei?ii?aoeey e ae?.

Ia/aeanue niioaaonoaothuay ?aaioa ?inneeneiai i?aaeoaeuenoaa e ia
iaaeaeoia?iaeiii o?iaia. Oae, ?inney iiaeienaea Naoeueneoth eiiaaioeeth
(1985 a.) ia o/?aaeaeaiee Iiiainoi?iiiaai aaaionoaa ii aa?aioeyi
eiaanoeoeee (IAAE) i?e Anaie?iii aaiea, Aaoeiaoiineoth eiiaaioeeth (1965
a.) ii nicaeaieth Iaaeaeoia?iaeiiai oeaio?a ii o?aaoee?iaaieth
eiaanoeoeeiiiuo nii?ia i?e Anaie?iii aaiea. Yoi aoaeao niinianoaiaaoue
oiaiueoaieth ?enea eaieoaeiaeiaeaiee, /oi aeey ?innee nae/an /?acau/aeii
aeooaeueii. Aiaeiae/iay ?aaioa aaaeaony e ia o?iaia aeaonoi?iiieo
ioiioaiee, i?e/ai iaeaieaa aeeiaie/ii ?acaeaathony a yoii iai?aaeaiee,
iiaeaeoe, ioiioaiey n NOA.

A oeaeii neooaoeeth n eiii?oii eaieoaea a Neae?ue a
i?aaei?eieiaoaeueneie oi?ia iiaeii ioa?aeoa?eciaaoue neaaeothuei
ia?acii: iioaioeeae aeaiiiai aeaea aiaoiayeiiiie/aneie aeayoaeueiinoe
caaeaenoaiaai aeaeaei ia iieiinoueth. Iniaaiii yoi ioiineony e
i?iecaiaenoaaiiui naycyi ni no?aiaie Aceaonei-Oeoiieaaineiai ?aaeiia,
yaeythuaainy iaeaieaa ia?niaeoeaiui ia?oia?ii aeey Neae?e ia oieueei ai
aiaoiae oi?aiaea, ii e a eiaanoeoeeiiiie noa?a. A neeo ?yaea i?e/ei ( a
ia?aoth i/a?aaeue iae?iyeiiiie/aneiai e einoeoooeeiiaeueiiai oa?aeoa?a)
ie ii ianooaaai, ie ii io?aneaaie no?oeoo?a i?ioeann nicaeaiey e
ooieoeeiie?iaaiey i?aaei?eyoee n eiino?aiiui o/anoeai ia aaeaeaaoai, n
iaeiie noi?iiu, aiciiaeiinoyi e, n ae?oaie – eioa?anai Neae?e.

Oai ia iaiaa eiaanoeoeeiiiua nayce neae?neeo ?aaeiiia eiatho aieueoea
ia?niaeoeau, oniao ?aaeecaoeee eioi?uo ai iiiaii aoaeao caaenaoue io
acaaoaiiinoe, oeaeaiai?aaeaiiinoe ainoaea?noaaiiie iieeoeee a noa?a
i?eaia eiino?aiiiai eaieoaea eae ia oaaea?aeueiii, oae e ?aaeiiaeueiii
o?iaiyo.

Aei neo ii? ?a/ue oea oieueei ia iaeiie ec oi?i eiii?oa eaieoaea –
i?aaei?eieiaoaeueneie. Caeanue i?aiaeaaeatho /anoiua ca?oaaaeiua
eiaanoeoeee. *oi eanaaony nnoaeiie oi?iu, e a ia?aoth i/a?aaeue
aeieain?i/iuo e?aaeeoia, oi eo iniiaiie enoi/iee aeey Neae?e –
ainoaea?noaaiiua e?aaeeou e e?aaeeou iaaei?aaeoaeuenoaaiiuo oeiainiauo
i?aaiecaoeee: Aa?iiaeneiai aaiea ?aeiino?oeoeee e ?acaeoey (AA??),
Anaie?iiai aaiea. Neaaeoao ioiaoeoue, /oi iiaeiaiia ?ani?aaeaeaiea oi?i
oeiaine?iaaiey iaaeaeo /anoiui e ainoaea?noaaiiui eaieoaeii yaeyaony
oeie/iui a iaaeaeoia?iaeiie i?aeoeea, iniaaiii aeey no?ai n
iaaeaaii?eyoiui eiaanoeoeeiiiui eeeiaoii e aunieie noaiaiueth
eiaanoeoeeiiiuo ?eneia.

Aeinoaoi/ii o?aaeeoeeiiiuie aeey ainoaea?noaaiiiai auaica eaieoaea
yaeythony e noa?u aai i?eeiaeaiey – io?anee aeeciaiaania/aiey e
eio?ano?oeoo?u: yia?aaoeea, o?ainii?o, naeueneia oicyenoai, nioeeaeueiay
eio?ano?oeoo?a. Neae?ue eae yia?aaoe/aneay aaca no?aiu, n iaeiie
noi?iiu, e eae ?aaeii n ionoaeie eio?ano?oeoo?ie (aeaaea ii n?aaiaieth
ni n?aaeia?inneeneei o?iaiai) – n ae?oaie, ia neo/aeii yaeyaony iaeiei
ec aeaaiuo ?aaeiiia-iieo/aoaeae oaeiai ?iaea caeiia. *oi eanaaony
e?aaeeoia, iaoeaeaiiuo ia noaaeeecaoeeth yeiiiieee e iiaeaea?aeeo
einoeoooeeiiaeueiuo i?aia?aciaaiee (iai?eia?, e?aaeeou AA?? aeey iaeiai
e n?aaeiaai aeciana) a ia?aoiaeiue ia?eiae, oi caeanue o/anoea Neae?e
nouanoaaiii ne?iiiaa a neeo aa oaeaeaiiinoe io oeaio?ia aeaeiaie e
oeiainiaie aeoeaiinoe.

N?aaee iaaeaeoia?iaeiuo oeiainiauo einoeoooia iaeiei ec iaeaieaa
aeoeaiuo a Neae?e yaeyaony Anaie?iue aaie. Eae ecaanoii, ii i?eaioe?iaai
ia i?aaeinoaaeaiea aeieain?i/iuo caeiia, iai?aaeaiiuo ia niaeaenoaea
onoie/eaiio yeiiiie/aneiio ?acaeoeth. N?aaee caeiia Anaie?iiai aaiea,
iiaeienaiiuo e ooaa?aeaeaiiuo a 1993/94 oeiainiaii aiaeo aeey ?innee ia
iauoth noiio ii?yaeea 2,7 ie?ae. aeiee. NOA, aieaa 40% i?eoiaeeony ia
aeaa ?aaaeeeoaoeeiiiuo iaooyiuo caeia aeey caiaaeeaiey nieaeaiey oaiiia
aeiau/e iaooe a Caiaaeiie Neae?e.

A ianoiyuaa a?aiy a nenoaia i?ei?eoaoia Anaie?iiai aaiea a ioiioaiee eae
?innee a oeaeii, oae e Neae?e iaaethaeaaony niauaiea aeoeaioia a iieueco
nioeeaeueiiai naeoi?a. Yoi aiieia caeiiiia?iue i?ioeann, iineieueeo a
neiaeeaoaeny neooaoeee eiaiii io noaaeeecaoeee nioeeaeueiie noa?u
caaeneo oniao o?ainoi?iaoeee yeiiiie/aneie nenoaiu.

A oeaeii iiaeii naeaeaoue auaiae, /oi iiiiuue Neae?neiio ?aaeiio a aeaea
aeieain?i/iuo caeiia ia iaaeainoaea?noaaiiii o?iaia i?aaeinoaaeyaony
aeinoaoi/ii aeoeaii. Ino?aa noieo i?iaeaia ia iauaia, a yooaeoeaiiai
eniieueciaaiey auaeaeyaiuo n?aaenoa. Ii ia?a noaaeeecaoeee neooaoeee a
no?aia e a ?aaeiia iio?aaiinoue a oaeie iiiiue aoaeao nie?auaoueny, ii a
oi aea a?aiy aoaeoo nicaeaaaoueny i?aaeiinueee aeey aeoeaecaoeee i?eoiea
/anoiiai aeieain?i/iiai nnoaeiiai eaieoaea.

3. Ia?u ii i?eaea/aieth eiino?aiiuo eiaanoeoeee.

A oeaeii eiino?aiiua eiaanoeoeee, yaeyynue iaeiei ec ia?niaeoeaiuo
enoi/ieeia oeiainiauo ?ano?nia aeey ?acaeoey yeiiiieee ?innee, ii
iauaiai iiea aua iacia/eoaeueiu. A nayce n yoe iiaeii auaeaeeoue
iniiaiua i?e/eiu oi?iiaeaiey eo i?eoiea a yeiiiieeo ?innee:

? iao aa?aioee nio?aiiinoe aeiaeaiiuo n?aaenoa;

? ionoonoaea noaaeeueiie iieeoeee ii aii?inai eiaanoeoeee;

? aunieee o?iaaiue eioeyoeee;

? ianiaa?oainoai caeiiiaeaoaeueiiai iaania/aiey;

? ia?acaeoinoue eio?ano?oeoo?u eiaanoe?iaaiey;

? neoaeiinoue eioi?iaoeee ia iauaeoao eiaanoe?iaaiey;

? iao?aaoee?iaaiiinoue i?aa nianoaaiiinoe;

? iao?aaoee?iaaiiinoue iaeiaiiaeiaeaiey eiaanoeoeeiiiie
aeayoaeueiinoe;

? iaaeinoaoi/iay eiaanoeoeeiiiay eoeueoo?a iauanoaa;

? ieceay aeioiaeiinoue io eiaanoeoeee.

?aoeeiiaeueiay iieeoeea ii ioiioaieth e eiino?aiiiio eaieoaeo aeieaeia
iniiauaaoueny ia e?eoa?eyo ioeaiee aai yooaeoeaiinoe. A ?acaeoie
?uii/iie yeiiiieea aeiieie?othuei e?eoa?eai aeey i?eieiathuae noi?iiu
neoaeeo yooaeoeaiinoue iia?aoeee eiie?aoiie oicyenoaaiiie aaeeieoeu.

Eiay neooaoeey neeaaeuaaaony a naaiaeiyoiae yeiiiieea ?innee. Caeanue
ainoaea?noai ia iiaeao ia?aie/eaaoueny oieueei caaea/ae aeinoeaeaiey
iae?iyeiiiie/aneeo e?eoa?eaa, naycaiiuo n i?eaea/aieai eiino?aiiuo
oeiainiauo ?ano?nia. Iii aeieaeii aieiaoaeueii neaaeeoue ca
aicaeaenoaeai eo i?eoiea ia iee?iyeiiiie/aneea iieacaoaee iaoeeiiaeueiie
yeiiiieee n iiiiuueth yeiiiie/aneiai, i?aaiaiai e, a iaiaoiaeeiuo
neo/ayo, aaeieieno?aoeaiiai ?aaoee?iaaiey. Yoi aucaaii oeaeui ?yaeii
i?e/ei, a /anoiinoe iaiaoiaeeiinoueth niaeaniaaiey iauaainoaea?noaaiiuo,
?aaeiiaeueiuo e ianoiuo eioa?ania e i?ei?eoaoia.

A ianoiyuaa a?aiy iinooieaiea cia/eoaeueiie /anoe eiino?aiiiai eaieoaea
i?ienoiaeeo eae ia aeaonoi?iiiae iaaei?aaeoaeuenoaaiiie iniiaa, oae e
ia iiiainoi?iiiae- a nio?oaeie/anoaa n iaaeaeoia?iaeiuie oeiainiauie
i?aaiecaoeeyie ( MVF, EBRD), aaea ?inneth oaeaea i?aaenoaaeyao
i?aaeoaeuenoai. Eiee/anoaaiii e?aaeeoiue iioie iiiaie?aoii i?aauoaao
iinooieaiey a aeaea i?yiuo e ii?ooaeueiuo eiaanoeoeee. Oae, a 1992- 93
aiaeao ?acee/iua aeaeu e?aaeeoiie iiaeaea?aeee ?innee ia aeaoo- e
iiiainoi?iiiae iniiaa ninoaaeee 58,6 ie?ae. aeieea?ia( ia n/eoay
oaoie/aneie iiiiue), a i?yiua e ii?ooaeueiua eiaanoeoeee- i?eia?ii 3,5
ie?ae. aeieea?ia.[5] A 1994- 96 aiaeao yoi niioiioaiea i?eioeeieaeueii
ia eciaieeinue. Iiaeiaiay no?oeoo?a caeinoaiaaiey eiaeeony oyaeaeui
a?aiaiai ia athaeaeao, auioaeaeay ianoe ioaaonoaaiiinoue ca iiaaoaiea
aeieaia an? ianaeaiea no?aiu.

E?iia oiai, neaaia ?acaeoea ?uii/iuo ioiioaiee, i?iaaeu a oicyenoaaiiii
caeiiiaeaoaeuenoaa, ionoonoaea /aoeiai ?acaeaeaiey iieiiii/ee iaaeaeo
oeaio?ii e ?aaeiiaie, ia?ac?ooaiiue iiiiiieeci i?iecaiaeeoaeae- ana yoi
i?aiyonoaoao niaiaaeaieth eee oioy au iaeiiiai?aaeaiiinoe eioa?ania
ioaeaeueiiai i?aaei?eyoey, io?anee, ?aaeiia e no?aiu a oeaeii.

O/eouaay eceiaeaiiia a iaic?eiie ia?niaeoeaa, neaaeoao i?eiyoue ia?u n
oai, /oiau ana aieueoay /anoue oeiainiauo iioieia ec-ca ?oaaaea
iinooiaea iaiin?aaenoaaiii oicyenoaaiiui no?oeoo?ai, ioaaonoaaiiui ca eo
eniieueciaaiea e naiaa?aiaiiue aica?ao.

Iaiaoiaeeii ei?aiiia niaa?oainoaiaaiea caeiiiaeaoaeueiie aacu, eioi?ay
i?aeoe/anee iaoiaeeony a noaaeee oi?ie?iaaiey, i?eia?ii /aio neoaeeo
ionoonoaea caeiia i naiaiaeiuo yeiiiie/aneeo ciiao. Iaaeiionoeiu
nio?aiythueany o ian ?acii/oaiey a ioaeaeueiuo caeiiao.

I?eiyoea caeiiia n /aoeie ?aaeaiaioaoeeae i?aa e iaycaiiinoae
eiino?aiiuo eiaanoi?ia iiaeao neoaeeoue iiaoaeeoaeueiui noeioeii aeey
aeoeaecaoeee eo aeayoaeueiinoe.

A ianoiyuaa a?aiy aeaaiui iiiaioii, aucuaathuei iaeaieaa iaaaoeaioth
?aaeoeeth ca?oaaaeiuo eiaanoi?ia, aeaenoaothueo a ?innee, yaeythony
iinoiyiii iaiythueany i?aaeea ooieoeeiie?iaaiey.

O?aaoaony /aoeia ?aca?aie/aiea io?aneae ?inneeneie yeiiiieee ia
“ioe?uoua” e iinoiyiii e a?aiaiii cae?uoua aeey eiino?aiiuo eiaanoi?ia
io?anee. Aeey iineaaeieo iaiaoiaeei a?aoee eo “ioe?uoey”. I?e iiaeiaiii
auai?a i?eoiaeeony o/eouaaoue ia oieueei yeiiiie/aneea, ii e
nioeeaeueii- iieeoe/aneea aniaeou neooaoeee a ?innee.

Iai oeaeaniia?acii ia?aie/eoue, ia iooai cai?aoa, a ca n/ao aaaaeaiey
i?ioeaioiiai aa?uea?a aeaaeaiey, aeinooi eiino?aiiiai eaieoaea a oa
io?anee, aaea oaea oniaoii aeaenoaotho ?inneeneea i?aaei?eieiaoaee
(oi?aiaey, iin?aaeie/aneea oneoae, iaeue aecian e o. ae.), eae aeaeaaony
a ae?oaeo no?aiao. Ioe?uoea aea noa? oicyenoaa, aaea aeiione
eiino?aiiiai eaieoaea niiniaai iiauneoue yooaeoeaiinoue eo
ooieoeeiie?iaaiey, ea/anoai oiaa?ia e oneoa ca n/ao nicaeaiey aieaa
eiieo?aioiie n?aaeu, neaaeoao inouanoaeyoue iineaaeiaaoaeueii, eae yoi
aeaeaaony a Iaeneea a ioiioaiee oeiainiaie noa?u, aeey ecaaaeaiey
ianniaiai ?aci?aiey ioa/anoaaiiuo i?aaei?eieiaoaeae e iaaaoeaiuo
nioeeaeueii- yeiiiie/aneeo iineaaenoaee.

Iai?aiaiiia oneiaea aeaaii?eyoiiai eiaanoeoeeiiiiai ?aaeeia aeey
eiino?aiiiai eaieoaea- naiaiaea ia?aaiaea eaieoaea e i?eauee. No?aiu
Eaoeineie Aia?eee oaaaeeeenue ia naiai iiuoa, /oi ianniaua aeiaeaiey
eiino?aiiuo eiiiaiee aiciiaeiu eeoue a oii neo/aa, anee iineaaeiea
oaa?aiu a aiciiaeiinoe a ethaie iiiaio iieeiooue no?aio.

Aaaeiui eino?oiaioii i?eaea/aiey eiino?aiiuo eiaanoeoeee a ?inneth
iiaeao noaoue eiiaa?ney caaeieaeaiiinoe a aeoeee. Eo?n aeieaiauo
iaycaoaeuenoa auaoaai NNN? ia aoi?e/iii ?uiea auoa 40 % iiieiaea oaea
aue aeinoeaioo. A neo/aa iiaiai iiaeuaia iiaoo ioe?uoueny aeinoaoi/ii
oe?ieea ia?niaeoeau aeey eniieueciaaiey naiiiauo iia?aoeee. Iineieueeo
iniiaiay /anoue caaeieaeaiiinoe auaoaai NNN? yaeyaony
iaaeainoaea?noaaiiie, ia?yaeo n eeanne/aneeie iia?aoeeyie eiiaa?nee
aiciiaeii o?aaoee?iaaiea iooai iaaei?aaeoaeuenoaaiiuo niaeaoaiee.

Aiciiaeii eniieueciaaiea a ?inneeneie i?aeoeea eiie?aoiuo iaoaieciia
nio?oaeie/anoaa n eiino?aiiuie ia?oia?aie. Iiieii aeoeaii i?eiaiyaiuo
NI, eie yaeythony noaiu AIO, eiio?aeou ?enea, eiioeannee e ae?.

Aaaeioth ?ieue i?ecaaii nua?aoue ianniaia aiaae?aiea a ?inneeneoth
i?aeoeeo oi?i e iaoiaeia, eniieuecothueony a ie?a e oi?ioi ciaeiiuo
ca?oaaaeiui oe?iai: ioe?uouo iaaeaeoia?iaeiuo oi?aia e aoeoeeiiia,
eiioeanneiiaeueiuo oi?i i?eaaoecaoeee, ?aciauaiey aeoeee ia ae?aea e
o.ae.

Iaoiaeu, i?eiaiyaiua a ?acee/iuo no?aiao aeey i?eaea/aiey ii?ooaeueiuo
eiaanoeoeee, a oie eee eiie noaiaie ia/eiatho eniieueciaaoueny e a
?innee: a 1994 aiaeo ?inneeneea oe?iu aia?aua auoee ia ?uiie ADR, a
no?aia i?enooieee e ?aaioa iaeioi?ua caiaaeiua eiaanoeoeeiiiua aaiee,
aeeth/ay ie?iaiai eeaea?a ii /eneo ?aciauaiee- Merrill Lynch, e o.ae. A
ianoiyuaa a?aiy ieiei aeaoo aeanyoeia ?inneeneeo oicyenoaaiiuo noauaeoia
iieo/eee ?ac?aoaiea ia iia?aoeee n ADR. Ii ?aaeueii ia yoi iiaoo
?ann/eouaaoue ia aieaa iieiaeiu i?aoaiaeaioia- a eo /enea “Eoeiee”,
“Aaoiaac” e ae?oaea e?oiiua eiiiaiee. Iaeuecy ia ioiaoeoue, /oi aeaaea
“Aaci?ii”, iieo/eaoee ?ac?aoaiea ia ?aaeecaoeeth /a?ac ADR 9 % naieo
aeoeee, iiea ia iiaeao iaeoe iieoiaoaey. Iauai i?aaenoaaeaiiie
eioi?iaoeee, ea/anoai aaeainia (a eo i?eoiaeeony ninoaaeyoue ii
iaoiaeeea Oeaio?aeueiiai Aaiea e ii iaaeaeoia?iaeiui noaiaea?oai),
aeaeeii, ia oaeiaeaoai?yao iioaioeeaeueiuo eiaanoi?ia, e?aeia
naea?aeaiii ioeaieaathueo ia?niaeoeau iia?aoeee a ?innee.

Ia aeaonoi?iiiae iniiaa neaaeoao ?anoe?eoue i?aeoeeo caeeth/aiey
niaeaoaiee n ca?oaaaeiuie ainoaea?noaaie i caueoa e iiiu?aiee
eiaanoeoeee, ono?aiaiee aeaieiiai iaeiaiiaeiaeaiey. Iiea iie, a
iniiaiii, caeeth/aeenue n i?iiuoeaiii ?acaeouie ainoaea?noaaie.

Aeey eciaiaiey io?aneaaiai iai?aaeaiey eiino?aiiuo eiaanoeoeee, a
oaeaea eo ?ani?aaeaeaiey iaaeaeo i?iecaiaenoaaiiui e iai?iecaiaenoaaiiui
naeoi?aie o?aaothony aeoaieea eciaiaiey a eiaanoeoeeiiiii eeeiaoa no?aiu
a oeaeii , aeoeaiia o/anoea ainoaea?noaa a aeaiiii i?ioeanna, eae yoi
auei, iai?eia?, a THaeiie Ei?aa.

I?aaeinoaaeaiea ii?aaeaeaiiuo eueaio iaaeaaeiui eiino?aiiui eiaanoi?ai
a iaeeii e n?aaeiai aeciana neacaeinue au iieiaeeoaeueii ia anai
i?ioeanna acaeiiaeaenoaey eiino?aiiiai e ?inneeneiai eaieoaeia. Iiuo
ca?oaaaeiuo no?ai iieacuaaao, /oi oaea/iui ?aoaieai iiaeao auoue ia
i?aaeinoaaeaiea iauaai eueaioiiai ?aaeeia, a ioai? iaaieueoiai /enea
iaeaieaa i?ei?eoaoiuo io?aneae, i?iecaiaenoa e ?aaeiiia. O/anoea a eo
?acaeoee eiino?aiiuo eiaanoi?ia iiaeao iiiu?youeny iin?aaenoaii
eiiaeie?iaaiiiai i?eiaiaiey iaeiaiauo. e?aaeeoiuo, oaiiaeaiiuo e
aaethoiuo eino?oiaioia, eioi?ua aeieaeiu aeaenoaiaaoue a oa/aiea
caeiiiaeaoaeueii ia?aie/aiiiai ia?eiaea a?aiaie.

Iiuo no?ai Ainoi/iie Aa?iiu, ?aiueoa ?innee anooieaoeo ia iooue ?aoi?i,
iieacuaaao, /oi i?eoie eiino?aiiiai eaieoaea aicieeae i?e aeinoeaeaiee
eie i?eaueueiinoe, ia 20- 25 % i?aauoathuae noaiaea?oioth ii
iaaeaeoia?iaeiui ia?eai aiaeiaoth ?aioaaaeueiinoue iiaeiaiuo iia?aoeee a
12- 17 %. Iiyoiio aac aeaeie iieeoeee i?aaeoaeuenoaa ?innee, ?aeoeia
eioi?ie onooiaao yoei no?aiai, a?yae ee iiaeii ?ann/eouaaoue ia
i?eaea/aiea e?oiiuo eiaanoeoeee no?aoaae/aneiai oa?aeoa?a. Aeey
eiino?aiiuo eiaanoi?ia aaaeii, /oiau iiaeiaiay aeaeinoue noaea
i?eiaiyoueny e ii ioiioaieth e ioa/anoaaiiui eiaanoi?ai, aioiaui
aeeaaeuaaoue n?aaenoaa a i?ei?eoaoiua io?anee, a oaeaea a i?aaei?eyoey,
iaoiaeyueany a ioaeaeaiiuo, o?oaeiiaeinooiiuo ianoiinoyo.

?inneeneay noi?iia ia ?aniieaaaao aei ianoiyuaai a?aiaie neieueei- eeai
aeaenoaaiiui iaai?ii eino?oiaioia, niiniaiuo aeeyoue ia i?eoie
eiino?aiiuo eiaanoeoeee a aeaeaoaeueiii iai?aaeaiee. Niya/eoue
neooaoeeth iiaei au i?eiyoea caeiia i niaeaoaieyo ii ?acaeaeo
i?iaeoeoeee (N?I). A i?iaeoao eiathueony N?I eiaaony aaaeiue aeey
?acaeoey ia oieueei aeiauaathuae, ii e ia?aaaouaathuae ?inneeneie
i?iiuoeaiiinoe ioieo- ?aciauaiea aei 50- 70 % caeacia ia iai?oaeiaaiea
e oneoae ia ?inneeneeo i?aaei?eyoeyo.

Iaiaoiaeeii nicaeaiea a aaethoii- oeiainiaie noa?a ?innee oneiaee,
iicaieythueo eiieo?e?iaaoue n ae?oaeie no?aiaie ca i?eaea/aiea
eiino?aiiiai eaieoaea. Oeaio?aeueiiio Aaieo ?innee auei au
oeaeaniia?acii iiaeaea?aeaoue no?aieaiea e nicaeaieth aaieianeeo
oieaeeiaia, nenoai no?aoiaaiey ?eneia eiino?aiiuo eiaanoi?ia
(iieeoe/aneeo e eiiia?/aneeo) ia ?aciuo o?iaiyo, eiaanoeoeeiiiuo
oiiaeia, a oii /enea n o/anoeai eiino?aiiuo aeeaae/eeia.

E?iia oiai, iaiaoiaeeii aeaeueiaeoaa niaa?oainoaiaaiea nenoaiu
?aaoee?iaaiey i?eoiea eiino?aiiuo eiaanoeoeee a aaieianeoth noa?o ?innee
n o/aoii iaiythueony aioo?aiieo e aiaoieo oneiaee. Ooieoeeiie?iaaiea
niaoaiiuo e eiino?aiiuo aaieia eiaao iaiaeiicia/iua iineaaenoaey aeey
?inneeneie yeiiiieee. N iaeiie noi?iiu, eo aeayoaeueiinoue iiaeao
neacaoueny iieiaeeoaeueii ia ?aoaieyo iioaioeeaeueiuo eiaanoi?ia,
eioi?ua iieo/ao aiciiaeiinoue inouanoaeyoue iia?aoeee /a?ac ecaanoiua ei
aaieianeea o/?aaeaeaiey.

N ae?oaie noi?iiu, a iaaeinoaoi/ii noaaeeueiie yeiiiie/aneie neooaoeee
naaiaeiyoiae ?innee o eiino?aiiuo aaieia neeueii eneooaiea i?eaeaeaoue
ianoiua ?ano?nu e auno?i i?ie?o/eaaoue ?inneeneea ianoiua eaieoaeu,
oeiaine?iaaoue ca eo n/ao aeayoaeueiinoue i?aaei?eyoee n eiino?aiiuie
eiaanoeoeeyie e i?eia?aoaoue iai?yioth eee /a?ac iin?aaeieeia
caieaeaiiua ii oeaia aeoeee ?inneeneeo i?aaei?eyoee, e a ?acoeueoaoa
iooaniyoue ianoiua aaiee io iaeaieaa i?eaueueiuo naaiaioia oeiainiauo
?uieia. Iiyoiio a n?aaeian?i/iie ia?niaeoeaa oeaeaniia?acii nio?aieoue
?ac?aoeoaeueiue ii?yaeie nicaeaiey eiino?aiiuo aaieia e aaieia n eo
o/anoeai, a oaeaea 12- oe i?ioeaioioth eaioo ii eaieoaeo.

A aeaiiie ?aaioa oaea ioia/aeinue, /oi ?innee, a ioee/ea io iaeioi?uo
iinonioeeaeenoe/aneeo no?ai, ia oaeaeinue eniieueciaaoue i?eaaoecaoeeth
a ea/anoaa aeaenoaaiiiai eino?oiaioa i?eaea/aiey eiino?aiiiai eaieoaea.
Iiyoiio, ii- iiaio, ?aaoee?othuay ?ieue ainoaea?noaa a aeaiiii i?ioeanna
aeieaeia caeeth/aoueny a i?aaeinoaaeaiee i?aaeii/oaiey noi?iia, ia
i?inoi i?aaeeiaeeaoae iaeaunooth oeaio, ii e i?eiyaoae aa?aioe?iaaiiia
iaycaoaeuenoai inouanoaeoue aeiiieieoaeueii iaiaoiaeeiua aeey ?acaeoey
i?iecaiaenoaa eiaanoeoeee e ae?oaea eeth/aaua oneiaey.

Caeeth/aiea.

Iiaeaiaey /a?oo eceiaeaiiui iai?aaeaieyi oeo/oaiey eiaanoeoeeiiiiai
eeeiaoa, neaaeoao ioiaoeoue, /oi ianiio?y ia anth i?eaeaeaoaeueiinoue
eiino?aiiiai oeiainiaiai eaieoaea aeey iaoae yeiiiieee, iaiaoiaeei
naaeaine?iaaiiue iiaeoiae e acaeiiaeaenoaeth n iei. Ia eiioa?aioeee,
i?aaieciaaiiie World Bank ii i?iaeaiai ?acaeoey e ?iee a iai
eiino?aiiiai eaieoaea, auei auneacaii eioa?aniia i?aaeiieiaeaiea:
“Eaeaieiae/aneay i?eaa?aeaiiinoue e eeaa?aeecaoeee oeiainiauo ?uieia ia
iiaeao auoue auaaaeaia ie ec yeiiiie/aneie oai?ee, ie ec eco/aiey iiuoa
?acaeaathueony no?ai. A?yae ee iiaeii niiiaaaoueny a oii, /oi iaeiei ec
iineaaenoaee e?oiiiai i?eoiea a ?inneth eiino?aiiie aaethou, a iniiaiii
ii eaiaeai oiieiiii/aiiuo ?inneeneeo aaieia, a 1994 aiaeo (21,7 ie?ae.
aeieea?ia) yaeeinue nouanoaaiiia ioaea/aiea n?aaenoa io eiaanoeoeee, oae
eae ianaeaiea eno?aoeei ia i?eia?aoaiea NEA ieiei 60 o?ei. ?oaeae.”[5]

A oeaeii, aeey auoiaea ec e?ecena iaiaoiaeeiu ethaua eiaanoeoeee, a oii
/enea e eiino?aiiua. Ianiio?y ia yoi, aeeneonnee ii iiaiaeo aeeyiey
eiino?aiiiai eaieoaea ia yeiiiieeo aaaeoony ia oieueei a iaoae no?aia,
ii e ai iiiaeo ?acaeouo no?aiao, e aii?in ieii/aoaeueii ia ?aoai.
Eiino?aiiua eiaanoeoeee, yaeyynue iaeiei ec ia?niaeoeaiuo enoi/ieeia
oeiainiauo ?ano?nia aeey ?acaeoey yeiiiieee ?innee, ii iauaiai iiea aua
iacia/eoaeueiu- a 1995 aiaeo iie ninoaaeee eeoue 5 % iauaai iauaia
eiaanoeoeee ca n/ao anao enoi/ieeia oeiaine?iaaiey. A oi aea a?aiy, aeey
auoiaea ec yeiiiie/aneiai e?ecena iaiaoiaeeii oaaee/eoue iauai
eiaanoeoeee ii/oe a o?e ?aca. I?e yoii iiea aeaeaaiiai oaaee/aiey ia
i?aaeaeaeeony. I?e/eiie oiio- nio?aiaiea nouanoaaiiiai eioeyoeeiiiiai
iioaioeeaea, nie?auaiea i?iiuoeaiiiai i?iecaiaenoaa, i?iaeieaeathueeny
e?ecen iaieaoaaeae, iioa?y eiieo?aioiniiniaiinoe i?iaeoeoeee ia
aioo?aiiai ?uiea, ieceee o?iaaiue iiiieiaiey aeioiaeiie /anoe athaeaeaoa
e ae?oaea. Iaino?yao yoo neooaoeeth e iaonoie/eaay aioo?eiieeoe/aneay e
nioeeaeueiay ianoaiiaea a no?aia.

Iiyoiio, auoiae ec e?ecena aiciiaeai eeoue i?e eiiieaeniii iiaeoiaea e
?aoaieth eaaeaeie i?iaeaiu, oi?ie?iaaiee ?acoiiie iauayeiiiie/aneie, e
i?aaeaea anaai oeiainiaie, iieeoeee, ?ac?aaioea e ?aaeecaoeee oeaeaauo
ainoaea?noaaiiuo i?ia?aii, i?eaioe?iaaiiuo ia oi?ie?iaaiea a no?aia
aeaaii?eyoiiai eiaanoeoeeiiiiai eeeiaoa eae aeey ioa/anoaaiiuo, oae e
aeey eiino?aiiuo eiaanoeoeee n o/aoii no?aoaae/aneeo iai?aaeaiee
?acaeoey ia?iaeiiai oicyenoaa, iaania/aiey yeiiiie/aneie aaciianiinoe
?innee, iiauoaiey eiieo?aioiniiniaiinoe ?inneeneeo oiaa?ia e ia yoie
iniiaa yooaeoeaiiai o/anoey ?innee a iaaeaeoia?iaeiii eiaanoeoeeiiiii
nio?oaeie/anoaa.

I?eeiaeaiea 1.

Oaeea oeaiiua aoiaae, eae aeaiiceoa?iua na?oeoeeaou, eee aeaiiceoiua
?anienee, nouanoaiaaee a ie?a oaea a 1927 aiaeo. Oioy iie nae/an e
iiae?acaeaeythony ia aia?eeaineea aeaiiceoiua ?anienee ADR, aeiaaeueiua
aeaiiceoiua ?anienee GDR e aa?iiaeneea aeaiiceoiua ?anienee EDR, ii
i?eioeeio aeaenoaey iie noiaee, ?acee/aynue oa??eoi?eaeueiuie
iieiiii/eyie.

Anee aiai?eoue ia ADR, yoi oeiainiaue aeieoiaio, oeaiiay aoiaaa, eioi?ay
i?ioea aeaiiieiaoeeth a aeieea?ao NOA e i?aaenoaaeyao niaie aeoeeth eee
aeoeee eaeeo- oi eiiiaiee. Iie naiaiaeii ia?auathony a NOA e Aa?iia, e
oi?aiaey eie i?ienoiaeeo ii iauai?eiyoui ie?iaui noaiaea?oai. Eiaanoi?u
a ADR iieo/atho naith i?eaueue a aia?eeaineeo aeieea?ao. O/anoea
yieoaioia a ADR aeaao ei aieueoaa i?aeiouanoai, eiaaea iie auoiaeyo ia
iaaeaeoia?iaeiua ?uiee. Niioaaonoaaiii, ?inneeneea i?aaei?eyoey oaeaea
iiaoo i?eniiniaeoueny e ie?iaui noaiaea?oai, ia aeiaeeaeaynue iiea aanue
?inneeneee oiiaeiaue ?uiie noaiao ei niioaaonoaiaaoue. Oaeei ia?acii,
ADR iiiiaatho iaaeaeoia?iaeiui oeiainiaui einoeoooai aeinoaoi/ii eaaei
aeeaaeuaaoue naie n?aaenoaa aeaaea a oaeea eiiiaiee, aaea eiui niiniaii
yoi naeaeaoue auei au iaaiciiaeii.

Bank of New York oaea ?aaioaao n aeanyoeii ?inneeneeo eeeaioia-
eiiiaieyie iaooaaaciaie e yia?aaoe/aneie io?aneae, aaieaie. A /enea
eeeaioia Bank of New York iiaeii iacaaoue “EOEiee”, ?AI “AYN ?innee”,
Eieiiaaie e ae?oaeo e?oiiuo yieoaioia.

Nienie eniieueciaaiiie eeoa?aoo?u.

1. Aiaiiieiaa O.TH. Eiino?aiiua eiaanoeoeee a Neae?e: ninoiyiea e
ia?niaeoeau.//

2. Aeiia?aaeia A.. Eiaanoeoeeiiiay i?eaeaeaoaeueiinoue Ainoi/iie Aa?iiu:
/oi auei e /oi anoue. // Oeiaineno.- 1995.- ? 41.- N.18.

3. Aeaauaeia A.. Eiaanoeoeee aac a?aieoe. //Y e AE.- 1996a.- ?5.-N. 10.

4. A?ioaaa A.. Niaae eiaanoeoeee nio?aieony. // Y e AE.-1996. – ? 23.-
N.14.

5. Caaei E., No?aiaoiaa I., sseiaeaaa A. Eiino?aiiua eiaanoeoeee e ?ieue
Oeaio?aeueiiai Aaiea. //Oeiaineno.- 1996.- ?16.- N.10.

6. Eiino?aiiua eiaanoeoeee n yiaa?y ii iae 1996 a.: Noaoenoe/aneee iaci?
Aineiinoaoa ?innee. // Yeiiiieea e aeeciue.- 1996.- ? 30.- N.12.

7. Eia/oe N., Eaaoieia E. Eiino?aiiua eaieoaeiaeiaeaiey a ?innee:
ninoiyiea e ia?niaeoeau.//Aii?inu yeiiiieee.-1996.-?12.-N.112-120.

8. Ei?ieaaa I. Ca?oaaaeiue eaieoae a ?innee. Eoaea aea/ao aai
eiiia?/aneay neea?// Eiaanoeoeee a ?innee.-1997.-? 5-6.

9. Eaaaaeaa A. Eiii?o eaieoaea: oeeo? iiiai, aea noiia iaea.// Yeiiiieea
e AEeciue.- 1995.- ? 50.- N.1.

10. Ea?aaaaa A.. Eiaanoeoeeiiiue i?ioeeue Ainoi/iie Neae?e. //Aiaoiyy
oi?aiaey.- 1994.- ?6.- N.12.

11. Ea?oaoeei A. Ii?yaeie ia ?inneeneii oiiaeiaii ?uiea caieaie?iaai.//
Oeiaineno.- 1995.- ?33.- N.29.

12. Eiia?ia A. Aeieea? e ?oaeue: ia eiieo?aiou, a ia?oia?u.// Y e AE.-
1996.- ?1.- N.43.

13. Eaa?ia TH. Eiaanoeoeee noiyo aeaiaa.// Y e AE.- 1996.- ?1.- N.43.

14. Eeineoe E.A., Einia A.A. Eiaanoeoeeiiiue i?iaeo: iaoiaeu iiaeaioiaee
e aiaeeca. O/aaii- ni?aai/iia iiniaea. -I.: AAE, 1996.- N.24.

15. Iaaeaeoia?iaeiua aaethoii- e?aaeeoiua e oeiainiaua ioiioaiey:
O/aaiee/ Iiae ?aae. E.I. E?anaaeiie.- I.: Oeiainu e noaoenoeea, 1994.-
N.547.

16. Iaaeaeoia?iaeiue iiuo i?eaea/aiey eiino?aiiuo eiaanoeoeee. //
Oeiaineno.- 1996 a.- ? 18.- N.15.

17. Oaia?iai A.. Iiuo no?ai Eaoeineie Aia?eee ii i?eaea/aieth
eiino?aiiiai eaieoaea. // Oeiaineno.- 1996.-? 5.- N.10.

18. Oia?ia A., Aiaeyiia A., Iiaiieeineay A. Iaci? eiaanoeoeee:
aaeyaeeiny a iee?iyeiiiieeo.// Eiiia?naio.- 1995. – ?5.- N.50.

?aoeaicey

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