????????? ??? ?????? ?? ?????

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???? ????? ????????? ??? ????? ???????? ????? ????? ????? ?? ????? ??????? ??? ?? ?? ????? ?????? ????? ?? ???? ??????????.⁽¹⁾ ??? ???? ??? ??????????? ?? ?????? ??? ?? ?? ??? “????? ????? ??? ?????? ???? ??????????? ???????? ????????? ???? ??? ?????? ?????? ????????? ????? ?? ????? ?? ??????? ?????????? ???? ????????? ??? ????? ???????? ????? ?? ??? ???????? ???????? ?????? ???????”.⁽²⁾ ????? ????? ??? ????? ??????? ???????? ????? ??????? ???? ??? ??? ??? ??? ??: (1) ????????? ??????? ???? ????? ????????  ????? “???? ???? ????? ???? ?? ??? ???? ?? ????? ???? ?????? ?? ???????  ?? ???? ????? ?? ??? ????? ?? ???? ????? ????????? ?? ???????/ ??? ????? ??? ??????? ???????? ???????????? ???????? ???????? ??????? ???????.  ” ???? ????? ?? ????????? ???? ??????? ??? ???? ???? ??????? ??? ???? ??? ????? ?????? ?? ??????? ????? ?? ?????? ?? ??????? ????? ?? ??? ????? ???????.⁽³⁾ ?????? ?????? ??????? ???????? ?? ?????? ?????????? ??? ????????? ??????? ??????? ?? “??? ?? ??????????? ??????? ???????? ???? ???? ??? ???????? ??????? ?????? ?????? ???? ?? ????? ???? ????? ?? ??? ???. “⁽⁴⁾ ?? ?? ??????????? ???????? ????????  ?? ????????? ?????? ??? ???????.⁽⁵⁾ (2) ??????? ?????? ??? “???? ????? ???? ????? ???? ??? ????? ??????? ??? ???? ??????? ?? ????? ??? ??? ?????/??????? ???? ?????? ??????”.⁽⁶⁾

????? ????? ????????? ??? ??? ???????? ??  ????? ?????? ???. ??? ?????? ??????? ??? ?? ????? ?????? ?? ????? ?????? ??? ????? ?????? ????????? ????? ????? ??????? ??????? ???????? ?? ?????? ???????? ?? ??????? ????????? ?????? ?????????? ?? ?????? ??????  ??? ????? ?????? ??? ????? ??????? ??????? ??? ????? ???????? ?????? ????? ?????? ???? ?????? ?????????? ?? ??? 1929? ??? ????? ??????? ?????? ???????? ??? ????? ???????? ???????? ???? ???? ??????? ???????? ???????? ?? ??????? ?? ???? ????? ??????.⁽⁷⁾  ??? ????? ??????? ?????? ?? ????? ???????? ??? ????? ??? ??????? ?? ????? ??????? ??????? ??? ?????.⁽⁸⁾ 

??? ??? 2000

???? ????? ?? ????? ????? ????? ???????? ??? ???? 1950 ?1960? ?? ??? ???? ???? ???? ???? ????? ???????. ???? 1960 ?? ???? ????? ????? ???????? ?? ?????? ???? ?? ?????????? ??? ??????? ???? ????? ????????? ??????? ??????? ?? ????? ??? 1954-1979. 228 ????? ?????.⁽⁹⁾ ??? ????? ????? ??? ????? ??????? ??? 6224? ???? ??? ??? ??????? ?? ??? 1954? ?? ??? ????????? ??????? ??????? ??????? ??? ????? ??? ??? 1990.⁽¹⁰⁾  ??? ????????? ??? ?????? ??? ????? ??????? ??????? ?? ????? ????? ??????? ??? ????? ???? ????? ????? ?? ???? ????? ?????? ??????? ??? ????? ???????? ????? ?? ?????? ???? ??? ????? ??????? ??? ????? ???? ??? ????????? ??????? ??????????. ???? ???? ??? ????? ??????? ???? ??? 250 ????? ????? ?? ?????????? ??? ?????? ??? ?? ???? ?????? ? ?????? ?????? ?? ????? ??????? ??? ????? ????????? ??? ??? ???? ??? ?? ??????? ??? ??????.⁽¹¹⁾

?????? ??????? ????????? ????????? ?? 24 ????? 1980 ?????? ????? ????? ?????? ???? ???? ????? ?? ???? ????????? ??????? ???????.⁽¹²⁾ ??? ?????? ???? ???????? ???? ????? ?? 24 ????? ??????/????? ?????? ?????? ??????? ???????? ??????? ???????? ?????? ????? ???? ????? ??? ????? ???????????? ????????? ??? ??????.⁽¹³⁾ ???? ?????????? ?????? ??? 1983 ??? ????????? ??????? ?????? ?? ???? ??????? ??????? ???? ?????? ?????????? ??????? ?? ????????? ???????? ?????????? ??????? ???????? ??? ??? ????????? ??????? ?? ???????? ???? ??? ????????? ????????? ??????? ????? ??????? ??????????  ???? ????? ??? ??? 1992 ?????????? ???????? ??????.⁽¹⁴⁾ ???? ??????? ????? ??????/????? 1980? ??? ????? ???? ??? ????? ??????? ??? ????? ??? ???? 1981 ? 1987 ?? ?????? 93 ????? ?????.⁽¹⁵⁾

????? ?????? ???? ????????? ??????? ??????? ??????? ?????? ?????? ???????? ??? ?? ????????? ??????? ??????? ?? ??? ????? ???? ????? ????? ?? ??????. ????? ?????? ???? ?????? ???? ????????? ??????? ??????? ?? ?????? ?????? ???????? ?? ??????? ??? “???????? ?? ?????? ?????? ??????? ??????? ???????? ??????? ??? ???????? ????? ?????? ??????? ????????? ????????? ???????? ?? ????? ?????? ???????? ???????? ?????????? ?????? ??????? ?????? ?????????? ?????????? ???????? ??????? ????????”. ??????? ???????? ???????? ??? ????? ????????? ??????? ??????? ?? ?????. ??????? ??? ?????? ?”??? ????????? ??????? ??????????? ??????? ??????? ???????? ? ?????? ??????? ?? ????? ?????? ???????? ?????? ??? ??????? ????????? ????????????? ???????? ?????????? ?????????

??? ??????? ? ????? ?? ?????? ??????? ? ???? ????? ??????? ? ??????? ?????? ???? ??? ????? ??????? ?? ????? ?????” ???? ??? ??????.⁽¹⁶⁾

????? ?????? ??????????? ???????? ???????? ?? ????? ?????????? ?? ???? ????? ??????. ????? ?? ??????? ??????? ?????? ???? ?????? ?? ??????(18) ???????? ??? ???? ?????? ?? ???? ??? ????? ??????? ??? ????? ???? ???? ???? ??? ???? ??????  17 ????? 1997?⁽¹⁹⁾ ????? ????? ???????? ???? ???????? ??? ?? ???? ???? ???? ????? ???? ????????? ??????? ??? ???  2000.  ??? ??? ??????? ?????????? ?????? ?????? ??????? ?????????? ???????? ??????? ??????? ?????? ??? ????????? ?????????? ????????? ??? ????? ???? ??????? ???????? ???? ???????? ???? ????? ?????? ????????? ????? ?????? ???????. ????? ??????? ??? ?????????? ??? ????????? ??????? ??????? ?????? ??? ?????? ??????????? ????????? ????????? ?????????? ??????? ????? ?????????? ???? ???? ????? ???????  ?? ?????? ????????? ????? ????? ????? ??????? ???? ???? ??? ?????? ? ?????? ?? ?????? ??????? ?????? ??????? ??? ???????????? ???????? ????????? ???? ????? ????????? ??????? ??????? ?????? ???? ??????? ?????? ??????? ?? ??? ?????? ?????? ????????? ????????? ???? ?????????? ???????.⁽²⁰⁾ 

 ?? ?????? 1999 ???? ??????? ??????? ?????? ???? ???? ????? ?? ????? ????? ?????? ?????? ????????? ???? ?????? ?????? ????????? ????????.⁽²¹⁾

????? ???? ??? ????????? ??? ?????? ?? ????? ??? ??? 2000 ??? ???? ???? ?????? ?????? ??? ??? ??? 2000. ??? ??? ?????? ??? ???? ????? ?????? ???? ????? ?????? ?????? ???????? ????? ??????????.⁽²³⁾ ????? ??? ??? ??? ??????? ?? ????? ????? ???? ??? ?????? ????? ????? 5 ????? ?? ??? 1981.⁽²⁴⁾ ??????? ???????? ?? ?????? ????????? ??? ??? ??????? ?? ??? ?????.⁽²⁵⁾ ?????? ??? ?????? ?? ??????? ??????? ??? ????  ??????? ?????? ?????? ???? ???? ??????: ??? ???????? ??????? ????? 28? ?? ??? ??? ???? ?????- ????? ?????? ????????? ??? ????? ?? ??????? ??????? ?? ????? ?????? ??????. ??? ?????? ??? ??????  ?? ?????? ?? ???????? ?????? ??? ?????????.⁽²⁶⁾ ??? ???? ?? ???? ?? ??? ??? 2000 ????? ??????????? ???????? ??? ??????? ??????? ????? ?????????? ????? ??????? ???? ?????? .⁽²⁷⁾ ???????? ??? ??????

????? ?? ????? ?? ?????? ?????? ?????????.⁽²⁸⁾ ????? ?????? ???? ??? ????? ???? ??? ????? ??????? ???????? ???? ??????? ??????? B.S.C. ⁽²⁹

??? ????  ??????? ??????? ???????? ?? ??????????? ???????? ?? ?????? ??? ????? ?????? ?? ?????????? ??? ??? ??? ??????? ???????? ??? ?????? ???? ??? 2002? ??? ???????? ??????? ??????????? ??? ???????? ??? ????? ???? ??????.⁽³⁰⁾ ??? ??? ??? ????????? ??????? ??????? ?? ??????? ??? ????????? ???? ???? ??? ????? ?? ???? ????? ???????? ??? ??????? ????????. ?????? ??????? ??????? ?? ??? ????????? ??????? ??? ????? ?????? ????? ??????? ?? ??? 1955 ⁽³¹⁾ ????  ????? ??????? ??????? ???????? ???????  ??????? ??????????? ??????? ?????? ?????? ??????? ????? ????????.⁽³²⁾ ??? ??? ??????? ?? ??????????? ???????? ?? ?????? ????? ??? ????? ????? ?? ???? ???? ???? ?????? ????????? ???? ????? ??? ??????  ??? ??? ?????? ????? ??? ?????? ??????????? ??? ???? ?????? ??????? ?????????  ?????????? ??????? ??????? ????????.⁽³³⁾ ????? ???? ???? ??????????? ????????  ???????? ?? ????? ?? ??? ??? ??????? ???????? ?? ?????? ???? ???? ??? 2000?. ????????? ?? ???? ??? ??? ??????? ??????? ?? ??????? ???????? ?????? . ???? ???? ??? ????? ??? ??????? ???????? ??????? ??? ????? ??? ???? 1954 ? 1999? ???? ?? ??? ??????? ???????? ??????? ?? ?????  ???? ?? ??????? ????????.⁽³⁴⁾

?? ??? ??? 2000

?? ??? 2003? ??????  ?? “????? ????? ??? ????? ???????”?????? ??? 1954 ????? 6224 ?????? ????????? ??????? ??????? ??? 4875.  ????? ??? ??????? ????? ??????????? ?? ???? ???????? ???????. ???? ??? ??????? ??????? ???? ??????? ?????? ???? ??? ????? ??????? ???? ????? ?????? ?????? ????. ?????? ???? ??????????? ????? ?????? ???????? ?????????.⁽³⁵⁾ ????? ?????? ???? ????????? ???????? ??? ??????? ??? 4875? ???? ?? ?????? ???? ????????? ??????? ??????? ??????? ??? ?? ?? ???  2004 ????? ???? ????? ????? ???? ????????? 

??? ???? ?? ?????? ????? ??????? ????? ????????? ??? ??????? ???????. ??? ?? ????? ?????? ????????? ????????? ?? ??? 2004 ???? ??? ??????? ???????? ??? ?????? ?????? ??????? ?????? ??????? ??? ?????????? ??????? ????? ????? ????????? ??? ?? ??? ?????? ????? ?? ????? ???? ?????????.⁽³⁶⁾

?? ????? ????? ?? ????? ?????? ????????? ???? ????? ???????? ?????? ??????? ???????? ??????? ?????? ??? 10?? ???? ????????? ????????? ????????? ??????? ?????? ??????? ??????? ??????? ??????? ???? ????? ???????? ????? ?? ????AT-Kearney ?????? ???? ????????? ??? ???   2005.⁽³⁸⁾ ???? ????????? ??????? ??????? ????????? ??? ?? ????? ??? 4875 ?? ??? 2003? ?????? ??? ??? ????? ???  22 ????? ????? ?? ??? 2007. ??? ???? ??? ????? ??????? ??? ?????? ??????? ???????? ??? 2008 ???? ??????????? ?? ?????. ???? ?????? ?????? ????? ?? 2015 ??? ???? ???? ????????? ?? ??????? ???????? ??? ???? ?????? ???????? ??????? ?? ????????? ??????? ?????? ????????? ??? ????? ????? ??? ??????????? ????????.⁽³⁹⁾ ???? ??? 2015 ???? ??????????? 

???????? ???????? ?? ????? ???? ?????? ??????. ??? ????? ????? ????? ???????? ????? ????????? ????? ???? ???? ???????? ????????.⁽⁴⁰⁾

????? ???? ??? ??????? ???? ???? ?????? ????????? ??????? ??????? ?? ??????  ??? ?? ??? ?????? ???? ???? ?????????  ??? ??? 2000. ?????? ???? ????? ??? ??????? ???????? ??? ??????? ???? ????? ???????? ?????????? ?? ??? ?????? ????? ???????? ?? ????? ??????? ????? ?? ??????? ?? ??????? ????????.⁽⁴³⁾ ???? ??? ?????? ??? ??? ????? ?????? 1 ???? ???????? ???????? ???????? ??????? ??????? ??????? ???? ?????? ??? ????? ?? ???????? ??? ????? ???? ??????.  ⁽⁴⁴⁾ ??? ?????? ???? ??? ????? ??????? ??? ??? 2002 ???? ??? ??? ??? ??????? ???????? ??? ??????? ????? ???????? ??? ????? ???? ?????? ??? ?????? ?????? ?????????? ????? ??????? . ????? ??? ?????? ??? ????? ????? ?? ???? ???????? ?? ??????? ???????? ??????? ?? ??????? ??? ???????? ?? ??? ??????.⁽⁴⁵⁾ ??? ????? ??????? ??????? ????? ???????? ???????? ???????? ??????????? ????? ???????? ??? ????? ?????? ?????? ??????. ??? 11 ?????? ?????? ????? ?????? ??????? ???????? ???????? ???? ???? ?????? ????? ?? ????? ????? ??????????  ??? ???? ????? ??? ??????? ??????? ?????? ??????????  ???  2001 ???????? ?????? ?? ??? ????? ??????? ???????? ??????? ????? ????????? ??????????

???? ??? 2002 ?????? ??????? ????? ?????? ?????? ???? ??????? ?? ????? ?????? ???? ???????? ?????????? ?? ??? ??????.⁽⁴⁶⁾ ??????? ??? ???????? ????????? ????? ????? ??? ????? ????? ?? ????? ??????? ???????? (????? ??????? ????????)?⁽⁴⁷⁾ ????? ????? ???? ??????  ????? ???? ??????? ????????? ??? ???? ????? ???????? ???? ?????? ????? ???? ???????? ????????⁽⁴⁸⁾   ?????? ???????? ?????-?????? ??? ?????? ???????? ??????? ????????? ?????? ???? ???? ????? ????? ?? ??????? ????? ?????.  ??? ???? ??? ?????? (????? ??????? ??????? ????????) ?? ?????? ???????? ??????? ????? ?????? ?????? ??  ?????.⁽⁴⁹⁾  ??? ??? ??????? ??????? ???? ???? ????? ???? ?????? ???? ??????? ?? ????? ??????? ??????? ??????? ??????? ?? ?????? ??? ?????? ??? ???????? ??????? ?? ?????? ??????. ?????? ???? ????? ?????? ???????? ?? ??????? ????? ???????? ????? ??? ????  «??? ????» ?? ?????? ????? ????? ???????? ??? ????? ?????? ????? ?????? ??????? ?? ????? ???? ???? ???? ????? ????? ?????.⁽⁵⁰⁾

????? ?????? ????? ????? ??? ???? 2003 ? 2007? ??? ???? ??????? ?? ?????? ????? ??????? ????? ?????? ?????????? ??????. ?? ???? ??? ?????? ?? ??? 2006 ???? ?? 400 ????? ????? ?? ?????? ?????. ????? ?????? ???? ??? 2003 ??? ??? ??????? ???????? ????????? ??  ????? ????? ?? ?????. ????? ??? ??? ???? ??????????? ???????? ?? ????? ??? 2006 ?? ????? 1.78 ????? ?????. ??? ?? ????? ??? ???? ?? ??? ????????? ?????? ??????? ?? ??? ????? ????????? ??????????? ?? ???????.⁽⁵¹⁾ ??? ???? ??? ????? ??? ??????? ??? ????? ???? ?????? ?? 2 ?????   ????? ?? ??? 1999 ??? 18 ????? ????? ?? ??? 2007.⁽⁵²⁾ ??? ??? ?? ???? ???????? ???????? ??? ????? ???? ?????? ?? ????? ???? ??? ???????? ??????. ??? ?????? ??? ??? 2002-2007 ????? ???? ????? ?????? ??? ????? ??? ???? ???????? ?????? ????? 7% ?? ??????? ??????.⁽⁵³⁾

???????? ??? ?????? 6.5 ????? ????? ?? ????? ??? ???? 2004 ? 2011. ????? ??? ??????? ????? ???????? ??????? ??????? ???? ?? ??? ????????? ??? ?????? ?? ?????? ?? ??? ??????? ??????? ??????? ???????? 1.3 ????? ?????? ???????? ?????? 1.7 ????? ????? ??? ???? 2004 ?2009. ??? ?????? ??? ??? ???????????  ???????? ?? ???? ????? ?????? ???? ???? 166.5 ????? ????? ??? ???? 2004 ? 2009 ??? ??? ???? ?? ??????????? ?? ????? ???? ?????? ??????.⁽⁵⁴⁾  ????? ?? ??????? ??????????? ???????? ?? ????? ?? ??????? ????? ?????? ?? ????? ?????? ???????? ? ???????? ???????? ???????? ????? ?????????. 

??? ????? ??????? ???????? ? ?????????? ????????? ????? ????? ?? ????? ????? ????? ??? ???????.⁽⁵⁵⁾ ??? ??? 2005???????? ???? Oger Telekom ???? ???? ?? ??????? ??????? ???????? ????? ??? ??? ??? ?????? 55? ?? ???? ?????? ????? 6.5 ????? ????????? ???2007 ?????? ???? ??? ?? ??????? ??????? ???????? ??? ????? ??????? ?????? ??? ??? 60? ?? ???? ??? ?????? ?? ????? ”????? ??????” ????? ?? ???? ?? ????? ?????. ????????? ??? ??? ??? ??????? ????? ?????? ??? ???? ???? ??? “??????” ???? “?? ?? ??”.⁽⁵⁶⁾ ????? ??? ??? ?? ????? ??? ???? ????????? ??? ??????? ????? ??????? -??? ???? ?????? ????????? ?? ??? ??????? ???????- ??? 50? ?? ???? ??? ???? ??????? ?? ??? 2007. ??? ???????? ?????? ???? ????? ???? ??? ????? ???????? ????????? ?? ??????? ???? ?????? ????? ???? ??? ????????( GAP)⁽⁵⁷⁾

??? ???????? ?????? ???? ??????? ???? ??? ?????? ?? ????? ??????? ??????? ??? ?????? ?????? ??? ???????. ????? ????? ????? ??????? ??? ????? ??? ?????? ??? ??? 2007 ??? ???? 2008 ? 2010? ???? ??????? ??????? ?? ?????.  ???? ?? ????? ??? ?????? ??????? ???? ??? ???? ?????? ??? ????? ?????????? ??? ???????? ???? ????? ?? ?? ?????? ??????? ???? ?????? ???? ?????? ??? ??? 2011???? ?? ????? ????? ???? ??? ??????? ????????? ?? ??? ????? ?????? ??????? ??? ??? 2016 ????? ??????? ??????? ????????? ????????? ???????? ?? ?????.⁽⁵⁸⁾ ??? ?????? ??????? ???????? ?? ??? 2008 ??? ????????? ??????? ????????? ?? ???? ????? ?????? ??? ??? ????????? ??????? ??????? ?? ?????? ??? ????? (2.1 ??????? ?????) ??? ???? ??? ??? ?? ??? 2007.⁽⁵⁹⁾ ??? ??? ??????? ???????? ??? ??????? ?????-?????? ????????? ???? ????????? ??????? ?? ??? 2016???? ?????? ????? ??????? ??????? ??????? ????? ???? ????? ????????? ?????? ??????.⁽⁶⁰⁾

???? ???????? ???????? ????????? ???? ??????? ??????? ??? ??? 2010 ??????? ??? ??????????? ???????? ?? ?????.⁽⁶¹⁾ ????? ??? ?????? ???? ????? ???? ????? ????????? ??? ????? ????? ?????? ??? ?????? -??? ??? – ????? ?????? ???? ??????? ???????.⁽⁶²⁾ ?????? ???? ????? ???? ??? ????? ??????  ?????? ??? ?????? ????? ??? ??????? ????????.⁽⁶³⁾ ????? ??????? ??????? ????? ????? ????????? ????? ???? ????? ?? ????? ????? ???? ??????. ⁽⁶⁴⁾ 

??? ????? ??????? ???? ??????? ????? ?? ??????? ??????? ?? ???? ??????? ??????? ???????? ?? ????? ?? ???????? ?????? ??????????? ???.⁽⁶⁵⁾

??? ??????? ???????? ??? ???? ????? ??????? ?? ????? ??????. ??????? ????? ?? ???? ???????? ??????? ???????? ????????? ??????? ??????? ?? ??? ????? ????? ???? ????? ???? ?? ??? ?????⁽⁶⁶⁾ ??? ???? ??? ????????? ?? ????? ??? ??????? ???????? ???????? ???? ??????? ???? ??????? ???????. ??? ???? ????? ???? ?????? ??????? ???????? ?????? ??????? ?? ??? ??????? ?? ??? ????? ??????? ??????? ???????? ????????? ??????? ??????? ???????? ?????? ?????? ?????? ?????? ???????. ?????? ???? ???? ????? ???? ????? ?? ?????.⁽⁶⁷⁾ ???? ?????? ?? ?????? ??????? ??????? ???????? ????????? ??????? ??????? ?? ????? ?????? ???? -??? ????? ??? ???????? ?? ????? ???? ?????- ??? ????? ???????? ??? ????? ???? ??? ??????.⁽⁶⁸⁾ ??? ???? ?????? ??????? ???? ???? ??  2017 ??????? ??? ???????? .   ??? ???? ????? ?? ???? ????? ?????? ????? ?? ?? ?? ????? ???? ?????? ????? ?????? ????? ????? ????? ???? ?????? ??? ????????? ???? ??? ????? ??????? ???????? ?????? ??????????? ??????? ?? ??????? ??????? ???????? ????????? ??????? ??????? ??? ?????. ?? ??? ???? ??????????? ??????? ?? ????? ?? ??????? ????? ??????????? ???????? ???????????  ????? ?????? ???????.

?? ??????? ?? 18 ???????? ??????? ??? ?????? ?? ?????? ?? ???????? ?? ?????? ?? ???? ??????? ??? ???????? ?????? ???????? ??? ????? ???????. ????? ??? ?????? ???? ??? ??????????? ?? ????? 11.4 ????? ?????. ????? ???????? ??????? ??????? ?????? ???? ??? ???? ??? ?? ??????????? ?? ????? ?? ??? ??? ?????? ????? 4.3 ????? ?????? ?? ??? ???? ??? ???? ???? ???? ?????? ????? 2.7 ????? ?????. ????? ??????? ??????? ???????? ??????? ??????? ??? ??? ?????? ??????? ?????? ?? ??? ???? ?????? ??????? ??????? ? 1.9 ????? ?????.⁽⁶⁹⁾ ??????? ??? ???? ???????? ???? ??? ???? ????????? ??????? ?? ????? ??? ???????? ??????? ???????. ????? ????????? ????????? ?? ????? ?? 8 ???? ?? ?????? ??? ??? ?????? ??????? ?????? ??? QNB ???????? ???? ???? 198 ????? ?????? ???? ???????? NBD  ???????? ???????? ???? 122 ????? ?????? ?????? ?????? ???????? ???????? ???? 118 ????? ?????.⁽⁷⁰⁾

?? ??????? ????? ??????? ???? ??? ?? ??????? ?????? ????? ???????? ????????? ?? ????? ????? 1.8 ????? ?????? ????? ?????? ? 342 ????? ?????? ?? ???????? ??????? ??????? ? 205  ?????? ?????. ????? ???? ?????? ??????? ?????????? ?????? ????????? ????? ??? ?? ???? ????? ??????? ???? ????? ?? ???? ??????? ????????? ?? ????? ?? ???? 2017??? ????? ?????? ????? ???? ????? 104 ????? ?? ??????.⁽⁷²⁾ ?? ??????? ?? 5 ???????? ??? ???? ??? ???????? ?? ????? ???????????? ???????? ???? ???? ???? ??70 ?? ????? ?? ??????????? ???????? ???? ??????.⁽⁷³⁾ ??? ????? ??? ???????????? ?? ????? ???? ??? ?? ??? 2013 ?? ???? ???? ??? Alternatif ?? 2013.⁽⁷⁴⁾ ?????? ???? ???? ????? ??? ????????? ??????? ?? ????? ??? 2013 ???????? ???? 469 ????? ?????.⁽⁷⁵⁾ ??? ??? ????? ????? ??? ??? ??? ???? ??? ????? ??????? ?? ????? 2013 ?? ??????  70.8? ?? ?????? ???? ?? ??? ??????? ?? ?????? ???????? ??? ??? 2016 ????? ?????? ???????? ?? ????? ????? 222.5 ????? ?????.⁽⁷⁶⁾ ?????? ??? ??????????? ?? ?????? ??????? ??????? ?????? ???? ??? ???? ?????? ??? ????? ??????? ??????? ???????. ??? ?? ?????? ??? ??? ?? ???? ERGO ??????? ? Digiturk  ???? ?? ?? ???? ???? ??????? ???????

?????? ?BMC ????⁽⁷⁷⁾? ?? ??? 2015 ????? ???????? ?????? ????? ???? ????? ???????  ????? 7.9 ????? ?????.  ⁽⁷⁸⁾ ??????? ??????????? ??????? ?? ????? ??? ???? ??? ???? ??? ?? ??? 2017.⁽⁷⁹⁾ ????? ??? ??????????? ???????? 7.9 ?? ?????? ?? ????? ??????????? ???????? ?? ??? 2018 ?12 ?? ?????? ?? ??? 2019.  ????? ???? ?? ??? 2017?   3.4 ?? ??????.⁽⁸⁰⁾

??? ????? ??????????? ???????? ??? ??????? ?? ?????. ????? ?? ??? ??????? ?? ?????? ???????. ??? ??? ???? ?????? ???????? ?? ????? ??????? ????? ?????? ?? ??????? ???????  ??? ????? ???? ??????? ??? ??? ?????????? ????????? ??? ????? ????? ???????? ???????. ???? ?????????? ????????? ????? ?? ???? ??? ?????? ???? ?????? ??????? ??????? ?? ???? ????? ????? ????? ???? ????? ??????? ??? ??? ???? ?????? ??????? ?????? ????? ??????? ???? ???? ???? ?? ??? ???????? ????? ???? ???? ??? ????? ????? . ??????? ??????????? ???????? ??? ?????? ???????? ??????? ?? 15 ????/?????. ??? ???? ??? ??? ???????? ??? ?????? ???????? ??????? ????????? ??? ??????? ???????? ???????? ????????? ????????? ??? ?????? ????????? ?? ??????? ???????? ??? ????? ???? ?? ???? ??? ??????????? ???????? ?? ????? ??? ????? ??????? ???????.⁽⁸¹⁾

???? ???? ??? ??? ??????? ???? ????? ????????? ??????? ?? ?????? ???? ??? ??? ??? ??????? ????? ????? ???? ????? ???? ??????? ?? ??????? ????? ????? ?????? ???? ?? ???? ?? ????? ??? ?????? ???? ??? ??? ??????? ????? ??????? ??? ???? ??? ??? ???????? ???? ???? ???? ????????? ?????????? ?? ????? ??????? ?? ???????? ???? ???? ?? ????? ??????? ??? ?????? ????? ???? ??? ???? ??? ??? ??????? ??? ???? ?? ???? ???? 825 ????? ????? ??? ?? ??????? ?? ?????? ???? ????? ???? ??????????? ??? ??? ??? ????? ??? ???? ??? ??????? ???????? ?????? ?? ????????? ?? ?????.⁽⁸³⁾ ??? ??? ??? ?????? ??????????? ???????? ?????? . ???  ??? 2005 ????? ????????  ?? ??? ?? ?????? ???????? ??????? ???????? ??????? ?? ??? ????? ???? ????? ???? ????? “????” ???????.⁽⁸⁴⁾ ?????? ??? ??? ???????? ??? MNG ????? 160 ????? ?????? ??? ??? 2007 ??? ???? ??????? ?????????? ????? 25 ?? ?????? ???? ??????? ???? ???? ????? ????? 800 ????? ?????. ??? ???? ??? ????? ???? ???? ??????? ???? ???? ?? ??? ????? ??? ???? ????? ??????? ?? ??????? ????? 8 ??????? ?????.  ? ?? ?????? ????????? ???????? ??????? ???????? ???? ??????????? ????????. ??? ??? ?????????? ????????? ?? ??? ?????? ?????????? ?? ????? ?????? ??? ????? ??? ?? ??????? ? ??? ?????? ????? ????? ?? ??? ????? ???? ??? ??????.⁽⁸⁵⁾ ?????? ??? ??? ??? ???? ????? ????????? ???????? (??? ????????? ???????) ??? ???? ?????? ???????? ?? ??? ??????? 120 ????? ????? ????? 60 ?? ?????? ?? ???? ????? ??????? ?????? ???? ?? ??? ????? ????????? ?? ???? ?????.  ???? ??? ??? ????? ?????? ???????? ???? ????? ????? ??? ??????? ??????? ?? ???? ????? ?????? ??????? ??????? 18  ?? ?????? ???  1 ?? ?????? ????? ???????. ????????? ??? ?????? ???????? ?? ???????? ??????? ???? ?? ??????? ?? ????? ???????????.⁽⁸⁶⁾

???? ???? ???? ???? ??????????? ???????? ?? ????? ??? ?????? ??????? ???? ???????? ??????? ???????? ???????. ??? ????? ???? ?????? ???. ??? ?????? 2020 ?????? ???? ??? ????? ???????? ???? ??????? ????? ??? ???????? ???? ????? ???? ????? ??????? ??? ???? ??? ?????????.⁽⁸⁷⁾ ????????? ??? ???? ???? ????? ??? (???) ?? ????? ????? ??? ?????? ????? ??? ??? ????? ??? ?????? ?????? ?????????.⁽⁸⁸⁾ ??? ?? ??????? ????? ??? ??? ?? ??? ?? 10 ?? ????? ???? ???? ??????? ????? ???????? ??????? ???????? ?? ????? ??????? ?? ??? 2015.    

???????? ?????? ???? ??? ????? ???????? ??? ???? ??????? ????? “????? ??????” ?? ???? ????? ???? ????? ???? 49 ?? ????? ?? ??? ???? ???????? ????????? ???  ???. ??? ???? ????? ?????? ?????? ?? ????? ?? ????? ?????? ??? ?????? ???? ??? ??????? ??? ??? ??? ???? ?? ????? ????????.⁽⁸⁹⁾ ??? ???? ?? ??????????? ??????? ?? ?????? ????? ???? ????? ?????? ????? ???????? ??????? ??????? ???????? ???? ???????.

???????

??? ???? ?? ??? ??? 2000? ??? ??? ????? ??????? ???????? ??????? ?????????? ???? ????????? ??????? ?????? ??????? ??? ????? ????????? ??????? ?? ?????. ???????? ??? ?????? ???????? ??????? ?? ???? ????????? ?? ?????? ?????? ?????????. ??? ?? ??????????? ???????? ???? ??????.  ??? ???? ??????????? ???????? ?? ????? ????? ???? ???? ??? ??????? ????????. ???? ???? ??????? ???????? ???????? ???? ??? ?????? ?????? ?????? ??????? ? ???? ?????? ???? ??? ??? ??? ??????? ??? ?????? ????? ?????? ????? ????? .  ??????? ??????????? ???????? ?? ????? ?????? ????? ?????. ??? ???? ??? ??? ?????? ???? ??????? ??????????? ???? ???? ?????? 165 ????? ????? ?? ????????? ??? ?????? ?? ??????.  ?????? ???????? ??????? ??????? ???? ????????? ?? ????? ????? 4 ??????? ?????? ????? ??? ???????? ??????? ???????? ???????. ???????? ??? ???? ???? ??? ?????? ???????? ?????? ????????? ?? ????? ?? ??????? ????? ??????? ???? ??? ????? ???? ???? ?????? ???????. ???????????? ??? ??????? ???????? ??????????? ???? ??? ?? ??? ??????????? ???????? ?? ?????. ???? ?? ??????????? ???????? ???????? ?? ????????? ????? ?????? ??? ?????? ?????? ???????? ?? ????? ???? ????? ??? ??? ???????????. ??? ???? ??????? ??????? ????? ?????? ??????? ????? ??????? ????? ??? ??? ???????????. ??? ??????? ?? ???? ????? ????? ?????? ??????? ???? ????? ?????? ??????? ???????? ?????? ?? ???? ??????? ???? ?????? ??? ???????????. ?????? ?????? ??????? ??????? ??????? ?? ????? ?????? ??????? ????????? ????? ??? ??????? ??????? ?????? ???????.  ??? ?????? ??????? ????? ????? ?????? ??????? ?? ??????? ??????? ???????? ????????? ??????? ??????? ???? ??????? ???????? ??? ??? ??? ??? ????????? ??????? ?? ?????. ????? ??? ?????? ?????? ????????? ??????? ??????? ?? ????? ??? ???????? ?? ?????? ???????? ??? ?? ????? ?????? ????? ????? ?? ??? ??????. ???????? ??? ??????? ??????????? ??????? ????? ??????? ????? ?? ???????? ??????? ?? ??? ????? ???????? ?? ????? ?? ??? ??????? ???? ???? ??? ??????????? ???????? ?? ?????.

??????? 

1. ?????? ?????,??????????? ????? ??? ???????? ?? ?????, ???????: ????? ????????? 1979, 19.
2. ????? ??????? ??????? ?????? ? ????? ????? ? “???? ??????????? ???????? ???????? ?? ????? ???????”? ???? ???? ????? ???????? ?????? ?????????? 23? (2012): 70-71.
3. ????? ????? ?????    “????????? ??? ????? ??????? ???????????? ????????? ?? ?????”?  ???? ?????? ????????? 1? (2003): 20.
4. ????? ??????? ??????? ?????? ? ????? ??????”???? ??????????? ???????? ???????? ?? ????? ??????? ” ? 71.
5. ??? ?????? “??????? ???????? ???????? ???????? ??????????”??????: ??????? ???????? ???????? ??????? ????????? 1978? 1.
6. ????? ????? ?     “??????????? ????? ??? ???????? ???????? ???????? ???????? ?? ?????” ? 20.
7. ????? ????? ? “??????????? ????? ??? ???????? ???????? ???????? ???????? ?? ?????”    ? 22.
8. ???? ???????  “????? ????? ????????? ??????? ??????? ?????? ??????? ?? ?????” ??????? ???????  12 (??????  2003): 79-80.
9. ????? ??????” ??????????? ????? ??? ???????? ???????? ???????? ???????? ?? ????? “? 29. 
10. ????? ?????”??????? ??????? ??????????? ??? ??? ????? ???????? ???????? ??? ??????? ?????????? ?? ???? ?? ??? ??? 1980 ?? ?????”? ????  ?? ?? ?? ?? ????? ????? ???? ???? ???? 3? (????? 2008): 76-77.
11. ??????? ?????? ? ?????? “??????????????? ???????? ???????? ?? ?????? ??????”? 80.
12. ???? ” ??????? ??????? ??????????? ??? ??? ????? ???????? ???????? ??? ??????? ?????????? ?? ???? ?? ??? ??? 1980 ?? ????? “?76-77.
13. ????? ??????” ??????????? ????? ??? ???????? ???????? ???????? ???????? ?? ????? ” ? 30.
14. ???? ” ??????? ??????? ??????????? ??? ??? ????? ???????? ???????? ??? ??????? ?????????? ?? ???? ?? ??? ??? 1980 ?? ????? “?79.
15. ??????? ?????? ??????? “???? ??????????? ???????? ???????? ?? ?????? ??????”? 81.
16. ???? ” ??????? ??????? ??????????? ??? ??? ????? ???????? ???????? ??? ??????? ?????????? ?? ???? ?? ??? ??? 1980 ?? ????? “?92-93.
17. “??????????? ??????? ????????(UDY) 2020????? ????? ????? ?????” ? ????? 5.               https://yased-api.yased.org.tr/Uploads/Reports/yased-2020-UDY-Raporu_r05_OPT.pdf 
18. ?????? ? “????? ????? ????????? ??????? ??????? ?????? ??????? ?? ?????” ?84.
19. ??????? ?????? ??????? “???? ??????????? ???????? ?? ?????? ??????”? 81.
20. ?????? ? “????? ????? ????????? ??????? ??????? ?????? ??????? ?? ?????”? 80-81.
21. ??????? ?????? ?????? ? “??????????????? ???????? ???????? ?? ?????? ?????? “? 81.
22. ????? ?????? ??????????? ????? ??? ???????? ???????? ???????? ???????? ?? ????? ? 34.
23. ?. ????? ??????? “????? ????? ??????? ????????”  ???????? ???????  12? (2011): 690.
24. ??? ??????”????? ????? ??????? ???? ?????? ?? ??? ????????? ???????? ?? ????? ?????” (?????? ???????? ????? ???????? 1987)? 249 ? 279.
25. ???? ??? ???????? “???????? ??? ????? ???? ???? ??????? ??????? ?? ????? ?????? ????????”(????? ???????? ODTÜ? 2015)? 26.
26. ?????? ????? ????? ??????? ???? ?????? ?? ??? ????????? ???????? ?? ????? ????? ?250.
27. ?????? ????? ????? ??????? ???? ?????? ?? ??? ????????? ???????? ?? ????? ????? ?282.
28. ?????? ” ????? ????? ??????? ???? ?????? ?? ??? ????????? ???????? ?? ????? ????? ?285.
29. ????? ?” ????? ????? ??????? ???? ?????? ?? ??? ????????? ???????? ?? ????? ????? “253.
30. ???? ??? “???????? ??????? ?? ??? ?????? (???????? ???? ???????) ?? ?? ??? ??? ??????? ????????”. ???? ?????? ?????????? ????????? 2? (2009): 22.
31. ???? ????????  “???????? ??? ????? ????? ??????? ???? ?????? ??????: ??? ?????”(????? ???????? ????? ???????? 2013): 87.
32. ?????? ????? ????????? ??????? ???????: ????? ????? ??????  ?? ?????? ????????  (?????? ???????? ??????? 2007)? 84.
33. ???????,  “???????? ??? ????? ????? ??????? ???? ?????? ??????: ??? ?????,  ” 57-58.
34. ?????” ??????? ??????? ??????????? ??? ??? ????? ???????? ???????? ??? ??????? ?????????? ?? ???? ?? ??? ??? 1980 ?? ????? “?85-95.
35. ?????? ?? ?????? ????? ?????????????????? ??? ??? ????? ???????? ???????? ?? ?????: ????? ????? ???????? ???? ????????(5) 1 ?92 ?96.
36. ????”??????? ??????? ??????????? ??? ??? ????? ???????? ???????? ??? ??????? ?????????? ?? ???? ?? ??? ??? 1980 ?? ????? “?83.
37. ??????????? ??????? ?????????? ?????? 29, 

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38. ????? ??????? ????????????? ??????????? ???????? ???????? ??????? ?????? ????????? ??????? ??? 2005 ? ????2006? ? 7.
39. ?? ??????? “??????????? ??? ??? ????? ??????? ??????? ?? ?????:????? ????? ???????”? 96-97.
40. ????? ?????: “?????? ??????????? ?? ????? ????? 19 ?? ?????? ?? ??? 2020: ??? ?? ??? ????????????? ?? ????? ” ????????  ??????? ?28 ????? 2021 ??? ?????? ?????:24 ????? 2021 ?

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41. “??????????? ??????? ???????? ?? ?????”? 29,

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42. ????? ???? ????????? ?? ??????? ?????? 56,

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43. ?. ????? ????????  “??????? ????????: ???????? ????????? ??????? ?? ??? ?????? ?????????? ???????”?  ?????  ??????? ??????????: ???? ????????2010? 42.
44. ??????? ,  “???????? ??? ????? ????? ??????? ???? ?????? ???????: ??? ????? ??? ??? ????????,” 51-53.
45. ??? ???? ??????? “???????? ??????? -???????? ?? ??????? ???????? ????????”? ??? ??????? ???????? ?? ???? 15 ????? ???? ????? ??? ????? ?????? ????? ????? (????)? (??????? : ???????2017)? 281.
46. ???? ????????? ???????? ?? ????? ?????? . ?????? ????? (??????.)? ????? ?????????????:        ?????? ??????? ???????? ??? ??? ??????? (?????? ?????? 2001-2012) ???????? :??????? , p. 434.; ????? ???????  ‘?????? ????? ?? ???? ??????? ??????? ?? 2003 ??? 2007 : ????? ??????? ‘Meditarranean ???????? ?????? 19 ? ??? : 3 (2008) ? 68-69. 
47. ????? ????? “????? ???? ???? ??????? ???????: ????? ??????” ????? ????? ??????  12? (2005): 89-97.
48. ??? ????? “????  ????? ?????? ?????? ???????? (14)? ???: 3? 2010? ?. 30.
49. ??????? ??????? “???????? ??????? ???????? ?? ????? ?????? ???????”?  ISPI? ????? ???: 178 (2013)? 2.
50. ????? ?????? ??? ????? ????? ??????? ???????? ????????   ???????? 10:1? 79-83.
51. ?. ????? ??????? “??????? ????????: ???????? ????????? ??????? ?? ??? ?????? ?????????? ???????”?42.
52. ??????? ,  “???????? ??? ????? ????? ??????? ???? ?????? ???????: ??? ?????,”60.
53. ??????? ,  “???????? ??? ????? ????? ??????? ???? ?????? ???????: ??? ?????,”55.
54. ??????? “???????? ??????? ???????? ?? ????? ?????? ???????”?6.
55. ????? ??????? “?????? ????? ?? ???? ??????? ??????? ?? 2003 ??? 2007?”  ????  ????? ?????? ???????  19? (2008 ???): 78.
56. ????????? “???????? ???????? ??????” ? ? 435.
57. ??? “???????? ??????? ?? ??? ?????? (???????? ???? ???????) ?? ?? ??? ??? ??????? ????????”, 28.
58. ?? ?????? ?”??????????? ??? ??? ????? ???????? ???????? ?? ?????: ????? ????? ???????”? 99.
59. ?? ???????”??????????? ??? ??? ????? ???????? ???????? ?? ?????: ????? ????? ???????”? 92 ? 96.
60. ?????? ?.?????? “???? ??????? ??????? ???? ??????  ?????? ???????? ??????? ” ? ???? ??????? ? 70 ? ? 23. 
61. ??????? ????????  “???????? ??? ????? ???? ???? ??????? ??????? ?? ????? ?????? ????????”(????? ???????? ODTÜ? 2015)? 60.
62. ??????? “???????? ??????? ???????? ?? ????? ?????? ???????”?7-9.
63. ?. ?????? ?. ?????? “????? ??????? ??? ?????? ??????”? ???????? ??? ??? ???? ??????? ??????? ??????: ??? ??? ?????  ????????: ????? ???? ?????? ?????? ???? ????? (????????: ???? ????? ??????? 2015)? 74.
64. ??????? “???????? ??????? ???????? ?? ????? ?????? ???????”?7-9.
65. ??? ???? ???????? “?????? ?????? ?? ????? ??????? ??????? ????????: ????? ?????????”.????? ????? ??????     

               6 ???: 61 (2015)? 74.

66. ????? ???????”???? ????? ????? ?????? ?? ????? ?????? ?”  ????? ????? ?????? ?????? 2021? ??????:12? ?????:100? 24-27.
67. ??????? ????? ????? “?????????? ???????? ?? ?????? ??????? ????????? ” ????? 2021? ??????:12? ?????:100? 14. 
68. ???? ????? ??????? ??????? ??????? “??????? ??????? ???????? 2017?” ????? ??????2017 ?? ? ????????: ???? ???? ????? ????? ??????? (?????: ??? ???? ??????218)? 172-174.
69. https://www.aa.com.tr/tr/analiz/turkiyeye-yatirimda-hollanda-abd-ve-ingiltere-basi-cekiyor/207195
70. https://www.aa.com.tr/tr/analiz-haber/korfezin-turk-bankalarina-ilgisi-suruyor/1050294 
71. ???? ?????? ????? ????? ?? ??????????? ??????? ? ??????????? 2020? ????? ??? 341? 16. 
72. ????? ???? ???????? ????? “???????? ?????????? ????????? ??? ????? ???? ???? ??????? ??????? (KI K)?? ??????? ??????? “? ???? ??????????? ???????????8? ?????: 1? 517.
73. “?????? ???????? ?? ????????”? ???? ? 17 ??????2020 ?  

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74. ?????? “????? ????? ?? ??????????? ??????? “?15.
75. ???? ??????” ???????? ?????????? ????????? ??? ????? ???? ???? ??????? ??????? (KI K)?? ??????? ??????? ” 516.
76. ???? ??????” ???????? ?????????? ????????? ??? ????? ???? ???? ??????? ??????? (KI K)?? ??????? ??????? ”   517.
77. ?????? “????? ????? ?? ??????????? ???????”?15 .
78. ?? ???????”??????????? ?????????? ???????? ???????? ?? ?????: ????? ????? ???????”? 101.
79. ??????? ????? ???? ??????? ?????? “???????????   ?????? ??????? ????????: ??????? ??????? ????????? ???????? ??????? ??????? ?????????? ?????? ?????2021? ??????? ???: 26? 31.
80. https://www.haberturk.com/korfez-ulkelerinden-turkiye-ye-yatirim-5-yilda-2-5-milyar-dolari-buldu-2609272-ekonomi 
81. ???? ??????  ” ???????? ?????????? ????????? ??? ????? ???? ???? ??????? ??????? (KI K)?? ??????? ??????? “? 517.
82. https://www.tcmb.gov.tr/wps/wcm/connect/tr/tcmb+tr/main+menu/istatistikler/doviz+kurlari/gosterge+niteligindeki+merkez+bankasi+kurlarii
83. ????? ??????? “?????? ????? ?? ???? ??????? ??????? ?? 2003 ??? 2007?70-73.
84. ??? ” ???????? ??????? ?? ??? ?????? (???????? ???? ???????) ?? ?? ??? ??? ??????? ????????”, 29.
85. ????? ??????? “????? ????? ?? ???? ??????? ??????? ?? 2003 ??? 2007?”70-73.
86. ????? ??????? “?????? ????? ?? ???? ??????? ??????? ?? 2003 ??? 2007?”74-75.
87. https://tr.euronews.com/2020/11/27/chp-genel-baskan-k-l-cdaroglu-borsa-istanbul-un-yuzde-10-unu-kaca-satt-n-z
88. https://www.indyturk.com/node/279421/haber/i%CC%87yi%CC%87-partiden-katarla-yap%C4%B1lan-anla%C5%9F%20%D9%85%D8%A7%D9%84%D8%A7%D8%B1%D8%A7-ili%D9%AAC5%D9%AA9Fkin-a%20%D9%AAC3%D9%AAA7%D9%AAC4%D9%AAB1klama-kapal%D9%AAC4%D9%AAB1-sat%D9%AAC4%D9%AAB1n-buys 
89. ???? ????? ???? ???? ????? ?? ????  ?   ” ??? ??????30 ?????? 2020? https://www.yenisafak.com/yazarlar/mehmet-acet/satilmis-ordu-degil-satilmis-kafalar-2056932