Y3I>EK11ctoh pecnYI>U11kac11 ou11 ba ypta

«oMna11uR!l y!l u, %

MaMJlaKaTJl	2000	2001	2002	2003	2004	2005	2006
VIH)l,ycTpHaJl 6O3OpJl	12.5	10.8	10.6	10.6	10.1	9.3	9.8
PHBO JlaHaeTraH 6O3OpJl	0.37	0.38	0.37	0.95	1.87	1.83	1.78

MaH6a: WFE.

}J{aOaa!l 20. MyOOam!l uMMam!l ozo1!l 6o1opuOa o u no1uu.uR!l XaJIC (2004 Uu!l), M!l11.«o11mpa«m

AK,	Eurex	Euronext	KOpe51	WBeu,H51
643.88	217.34	127.3	58.39	25.64

51nOHH51	X,HH)l,HcTOH	CHHranyp	Tai1	rOHKOHr
25.59	23.78	16.44	15.34	12.58
)l{AP	pa3HJlH51	VI naHH51	ABcTpaJl 51	VITaJlH51
12.23	11.47	8.73	6.77	6.44
nOJl	rpeu,H51	KaHa)l,	ApreHTHHa	MaJlai13H51
3.54	2.97	2.95	2.25	1.09
HOpBerH51	POccH51	aHH51	BeHrpH51	MeKcHKa
0.97	0.75	0.57	0.39	0.37
ABcTpH51	VIcpOHJl
0.36	0.34

MaH6a: Hp aJl HHr ax, cpe)l,epau,H51cH (WFE) MabJl MOTJl H acOcH)l, x,HcO6Jl TOnHJl aH.

}J{aOaa!l 21. ff11aecmuu.uo11 ne11cuR pe1epa!lapu 6aXocu (M!l11.Oo!l!l.) aa HffMOazu y!lymu (%)

MaMJl	2001	2002	2003	2004	2005
ABcTpaJl 51	212860 (57.7)	239290 (58.1)	295670	464577
			(56.1)	(72.9)
ABcTpH51	7555	8099	10869 (4.3)	13299 (4.5)
	(3.9)	(3.9)
ApreHTHHa	20786	11409 (11.2)	15947	18238	22416 (12.7)
	(7.7)		(12.3)	(11.9)
eJlbrH51	12639	12428	12152	14325
	(6.0)	(5.1)	(4.0)	(4.1)
OJl apH51	83	173	331	553
pa3HJlH51			64444		134807
			(12.7)		(16.3)
. pHTaHH51	1040472 (66.0)	1040472	1175335	1175335
		(66.5)	(66.4)	(55.3)
BeHrpH51	2071 (4.0)	2976 (4.5)	4456 (5.4)	6859 (6.8)
repMaHH51	63296	7846	88887 (3.6)	104161
	(3.0)	(3.4)		(3.8)
aHH51	43639	44324 (25.9)	58782	73095
	(27.5)		(27.8)	(30.3)
VIcpOHJl	27300	28200	31900
VIpJlaH)l,H51	45763	42222	59989	77405
	(44.3)	(35.1)	(39.4)	(42.6)
VI naHH51	35072	39061	54778	93644	86010
	(5.2)	(5.4)	(7.0)	(11.2)	(7.6)
VITaJlH51	25194	28312	36787	44351
	(4.0)	(2.4)	(2.5)	(2.6)
KaHa)l,	375565	346341	445761	445761
	(48.0)	(47.7)	(52.0)	(45.6)
KOJlyM6H51	4939	5472	7315	10965	11067
KOpe51		8438	9884	11516
		(1.5)	(1.6)	(1.7)

MeKcHKa	27146	31748	35844	43033	55386
	(4.4)	(4.9)	(5.6)	(6.4)	(7.2)
HH)l,epJlaH)l,.	404772	441498	545239	545239
	(105.4)	(105.4)	(106.3)	(94.2)
51.3eJl H)l,H51	7687	7865	9094	11157
	(14.8)	(13.1)	(11.4)	(11.3)
HOpBerH51	6831	7652	10227	16939
	(4.0)	(4.0)	(4.6)	(6.8)
nOJl	8219	7588	11987	20943	26394
	(4.4)	(4.0)	(5.7)	(8.6)	(8.7)
nOpTyraJlH51	13278	14657	18396	18868
	(12.1)	(12.1)	(12.5)	(11.2)
POccH51	1153	1640	2989	5893	9808
	(0.4)	(0.5)	(0.7)	(1.0)	(1.3)
CJlOBaKH51	2244	4037	7409	7409
	(10.7)	(16.7)	(22.7)	(18.0)
AK,	8571800	7814800	9213900	10150000	10646700
	(85.1)	(74.9)	(84.1)	(86.7)	(85.3)
TaHJl H)l,		5774	7519	8186
TypKH51				209 (0.1)
HHJl51H)l,H51	9991	10606	13406	84271
	(8.2)	(8.0)	(8.3)	(45.3)
paHu,H51	51388	95395	123255	123255
	(3.8)	(6.5)	(6.9)	(6.0)
4eXH51	1404 (2.3)	2053 (2.8)	2852 (3.1)	3884 (3.6)
4HJlH	35461	43431	49690	60798	74756
	(51.7)	(64.5)	(67.7)	(64.6)	(59.6)
WBei1u, pH51	261357	267554	360646	360646
	(114)	(96.7)	(112.1)	(100.9)
WBeu,H51	18254	18542	23457	43823
	(4.0)	(7.7)	(7.8)	(12.7)
3cTOHH51		15	90	234
)l{AP			57337	82756
			(34.7)	(38.9)
51nOHH51	580519	561645	658255	661063
	(19.0)	(14.1)	(15.3)	(14.3)
YpTaYa:	11918737	11261565	13524879	14802689	11067344
	(23.3)	(22.8)	(25.9)	(25.7)	(24.8)

MaH6a: OECD Global Pension Statistics; Eurostat; FIAP.

}J{aOaa!l 22. "e11cuR pe1epa!lapu aa po11O 6o1opu11u Uu!luza ypma a 2001-2004 Uu!l!lapOa maacup!l u «ypcam«u !lap11 11 ycumu

MaMJl	VI TH- u,H51 cp H)l,JlapH	51VI	KanHTa- JlH3au,H51	AKu,H51- Jl HHHr 6Hp a O6OpOTH	H)l, HH)l, KcH	neHcH51 cpOH)l,Jl H aKTHBJl H
ABcTpaJl 51	24.9	20.2	29.4	29.0	7.4	31.0
ABcTpH51	23.5	15.0	52.8	62.2	27.4	21.3
ApreHTHHa	12.6	-5.7	-29.8	83.7	65.9	3.0
eJlbrH51	20.3	15.9	10.2	6.9	7.6	4.7
. pHTaHH51	17.6	14.1	10.8	28.7	0.3	4.3
BeHrpH51	33.8	24.8	41.9	39.9	28.9	49.1
repMaHH51	12.4	13.3	10.4	0.8	0.2	18.5
aHH51	24.3	15.1	23.2	16.1	36.5	19.5
VIpJlaH)l,H51	34.7	20.8	18.4	26.8	6.4	21.1
VI naHH51	26.3	7.2	28.3	13.6	6.3	40.9
VITaJlH51	12.9	15.6	15.8	14.0	2.9	21.0
KaHa)l,	17.0	11.7	23.1	14.3	7.6	7.0
KOpe51	17.5	12.2	25.2	-2.6	10.1	16.8
MeKcHKa	3.6	2.9	13.6	12.1	28.9	16.6
HH)l,epJlaHJl	8.9	14.8	9.0	-8.2	-8.0	10.9
51.3eJl H)l,H51	19.6	24.2	35.5	25.3	19.6	13.5
HOpBerH51	27.7	13.8	29.2	43.4	13.9	37.1
nOJl	60.3	9.4	43.7	39.7	25.3	41.7
nOpTyraJlH51	22.8	15.3	15.4	13.7	4.9	12.8
POccH51	70.8	24.1	55.0	65.9	34.8	73.9
CJlOBaKH51	104.3	25.5	42.3	-11.8	42.2	54.5
AK,	5.7	5.2	7.7	-9.0	7.2	6.4
HHJl51H)l,H51	43.3	15.5	1.2	8.6	-8.9	187.1
paHu,H51	24.6	15.3	13.4	8.3	-1.5	38.3
4eXH51	42.8	20.7	52.1	75.7	10.1	40.4
4HJlH	35.5	11.8	33.8	53.6	20.4	19.7
WBei1u, pH51	7.5	12.6	11.2	44.1	1.0	12.4
WBeu,H51	20.6	16.6	22.5	16.5	3.3	38.3
)l{AP	55.0	23.9	49.1	34.0	38.6	44.3
51nOHH51	5.9	3.7	19.5	27.2	5.2	4.8
nJl ycHwH 6HJlaH KOppeKu,H51Jlaw	0.51	0.31	0.14	-0.01	-0.09	1.00

MaH6a: OECD Global Pension Statistics; Eurostat, FIAP.

}J{aOaa!l 23. Cezypma «oMna11uR!lapu a«mua!lapu

MaMJl	MJlp)l,.)l, JlJl		51VIM)l,aH %
	2003	2004	2003	2004
ABcTpaJl 51	98.1	118.3	18.6	18.6

. pHTaHH51			52.9	51.1
repMaHH51	625.1	774.5	26.1	28.1
VI naHH51		123.5		11.9
VITaJlH51	236.3	325.7	16.1	19.5
KaHa)l,	173	216.7	20.1	25.2
AK,	2172.8	2342	19.9	20
paHu,H51	724.1	932	41.2	53
51nOHH51	1435.7	1589.9	33.4	34
KOpe51	116.1	127.6	19.2	18.8
nOJl	7.4	9.5	3.5	4
POccH51	9.8	11.2	2.3	1.9
TypKH51		2		0.6
YMyMaH OECD MaMJlaKaTJl	7038.5	8978.8	25.3	24.6

MaH6a: OECD Global Pension Statistics; OECD Insurance Statistics Yearbook; VI epcp
(analytics.interfax.ru) MabJl MOTJl H acOcH)l, x,HcO6Jl TOnHJlraH.

}J{aOaa!l 24. Kanuma!lu1au. M (%) «ypcam«u u 6yUu a Mu!l!luU 6o1op!l 11 ma cuM!la11umu

KanHTaJlH3au,H51/ 51MM, %	1998			2005
	PHBO JlaH- raH 6O3OpJl.	WaKJlJl 6O3OpJlap	raH		PHBO Jl. 6O3OpJlap		WaKJlJl 6O3OpJlap	raH
0-5		ApMaHHcTOH, aHrJla)l, , OJl H51, rBaTeMaJl , OMHHHKaH Pecny6Jl., PyMHHH51				PyMHHH51, CJlOBaKH51
>5-10		OJlHBH51, BeHecy3Jl , rOH )l, pac, 3aM6H51, 3paH, Jl H51, Jl TBa, HHrepH51, naK HcTaH, POccH51, 3KBa)l,				BeHecy3Jl , Jl BaH, nOKHcTOH, aHrJla)l, , YKpaHHa, WpH- Jl Ka, 3KBa)l, p
>10-20	ABcTpH51	ApreHTHHa, OTcBaHa, ra Ha, 3HM6a6Be,		ABcTpH51		VIH)l,OHe3H51, KeHH51, KO JlyM6H51, KOT-

		KeHH51, KO Jl M6H51, KOcTa PHKa, KOT- )l,^,VI yap, Jl aH, nepy, nOJl , CJlOBeHH51, TyHHc, Typu,H51, XOpBaTH51, 4eXH51		)l,^,VI yap, Jl TBa, HaMH6H51, HHre pH51, nOJl a, CJl BeHH51, TyHHc, XOpBaTH51
>20-30		pa3HJlH51, BeHrpH51, MHcp, X,HH)l,HcTOH, VIH)l,OHe3H51, KHnp, X, Oi1, MeKcHKa, 51Mai1Ka		BeHrpH51, raHa, ErHneT, MapOKKO, TaHJlaH)l,, nepy, 4eXH51, POccH51
>30-40	VI JlaH)l,H51, HOpBerH51	VI HJl, KOpe51, 0MaH, naHaMa, Cay)l,H51 Apa6HcT., TaHJl H)l,	51 rH 3eJl H)l,H51	pa3HJlH51, 3HM6a6Be, VIH)l,H51, KOpe51, JlaTBH51, MaBpHKHi1, MeKcHKa, HJl nHH, 3cTOHH51
>40-60	repMaHH51, aHH51, VI aJlH51, HOBa51 3eJl H)l,H51	MaBpHKHi1, MapOKKO, nOpTyraJlH51, HJl nHH	aHH51, HOpBerH51, nOpTyraJl H51	ApreHTHHa, VI pOHJl, KHTai1, TpHHH)l, T H TO6aHO
>60-80	VIpJlaH)l,H51, VI naHH51, u,H51, 51nOHH51	rpeu,H51, VIOp)l, HH51, KyBai1T, 4HJl	repMaHH51 , VI aJlH51, 51nOHH51	VIOp)l, HH51
>80-100	ABcTpaJlH51, eJl rH51, KaHa)l,		ABcTpaJl 51, VIpJlaH)l,H51 , eJl rH51, VI naHH51	4HJlH
>100-150	CHHranyp, HHJl51H)l,H51 , WBeu, 51	MaJlai13H51, )l{ P	KaHa)l, , u,H51, WBeu,H51	MaJlai13H51
>150	. pHTaHH51, Jl yp r, HH)l,epJlaH)l, Jl, AK,W, rOHKOHr, WBei1u, pH51		. pHTaH H51, Jl - 6ypr, HH- )l,epJl H)l,, CHHranyp , AK,W, rOHKOHr, WBei1u, H51	)l{AP
VITOrO pIHKOB	23	58	22	45

MaH6a: International Financial Statistics, IFC Emerging Stock Markets Factbooks (1995-1999), S&P/IFC Emerging Stock Markets Review January 2001, FIBV Annual Report 2000, IMF World Economic Outlook May 2001. S&Poor’s/IFC.

}J{aOaa!l 25. Kanuma!l au. 6yUu a 6o1op!l maX!lu!l

PHBO JlaHraH 6O3OpJl			WaKJlJl 6O3OpJlap
KanHTaJlH3au,H51 51VIM (HYKH 3MHTeHTJl p 6yi1 )	PHBO Jl raH 6O3OpJl p)l, H yMyMHi1 yJl	KanHTaJlH3au,H51 51VIM (HYKH 3MHTeHTJl p 6yi1 )		WaKJlJl raH 6O3OpJl p)l, H yMyMHi1 yJlywH