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The paper offers further development and applications of the theory of a parametrical regulation of market economy evolution. This theory consists of the following sections: formation of a library of economic systems' mathematical models; of rigidness (structural stability) of mathematical models; development of parametrical regulation laws etc. The work contains new results of the considered one class models' rigidness research with and without parametrical regulation.

Purpose -The purpose of this paper is to offer the theory of a parametrical regulation of market economy development, and the results of the theory development and usage. Design/methodology/approach -Theoretical results of the abstract have been obtained by way of applying the theory of ordinary differential equations, geometrical methods in variation tasks and the theory of dynamic systems. These results have been used for solving a number of practical tasks. Findings -The market economy development parametrical regulation theory structure has been offered. The approach to parametrical regulation of a nonlinear dynamic system's development has been suggested. An assumption about the existence of solution to the task of calculus of variations on the choice of the optimum laws of parametrical regulation within the given finite set of algorithms has been set forward. An assumption about the conditions sufficient for the existence of an extremal's bifurcation point of the task of calculus of variations on the choice of the optimum laws of parametrical regulation within the given finite set of algorithms is presented, formulated and proved. Theory application samples have been provided. Research limitations/implications -Future papers would be focused on studies of rigidness of other mathematic models of economic systems. Practical implications -The research findings could be applied to the choice and realization of an effective budget and tax as well as monetary and loan state policy. Originality/value -The market economy development parametrical regulation theory has been offered for consideration for the first time.

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Does legislation help to achieve better quality of the environment? This paper intends to answer this question. Kazakhstan legislation on the protection of the environment was shaped under the Soviet period of economic development and served a planned economy with a very authoritarian style of government, administration and management. During the so-called "transition period", the intention to move towards a market economy has considerably changed the environmental legislation, although many previous regulations remain in force. This mix of planning and market legislation, regulations and standards proved to be inefficient to protect the environment. The oil industry has a great influence on a country's economic development and environmental quality in the areas of its activity. The industry's genuine desire to protect the environment while pursuing its business goals is facing obstacles in the form of unjustified restricted permitting rules and limit settings, causing unnecessary expenses, which otherwise could be invested in more efficient environmental actions. The difference between EU or US legislation and that of Kazakhstan is not in the amount of legal documents. This difference lies in the approach to environmental protection which is quite contrary to that of the EU and the US. The former Soviet countries base their approach on setting rigid standards (considered the most stringent in the world). There is a large gap, however, between the declared standards and the real economic abilities of enterprises, existing technology, and economic/social capacity to meet these standards. Therefore Kazakhstan's regulatory authorities pay growing attention to the environmental legislation recommendations of international organisations such as UNDP, OECD, USAID, etc. This paper highlights the experience of Agip KCO in collaboration with the government in the development of codes and standards in the HSE field. The protection of the environment in this extremely sensitive region has been one of the top priorities right from the beginning of the exploration stage in the Caspian Sea. Some results associated with the Kazakhstan environmental legislation are reviewed, and ongoing improvements as well as the suggested ways of harmonization are presented. Introduction The Agip KCO company is currently undertaking exploration and appraisal operations in the Kazakh sector of the Caspian Sea. Agip KCO operates on behalf of its six international co-venturers: ConocoPhillips, Eni, ExxonMobil, Inpex, Shell, TotalFinaElf, and KazMunayGas (KMG) representing the interests of the Republic of Kazakhstan. Amongst the blocks covered by the North Caspian Sea Production Sharing Agreement (PSA) is the giant Kashagan field, one of the worlds largest oil fields. Other exploration prospects where discoveries have been announced are Kalamkas, Aktote and Kashagan Southwest fields. The mission of Agip KCO is to explore and develop the North Caspian Sea offshore contract area in an environmentally and economically sound manner in order to generate values for the Republic of Kazakhstan and its partners and providing opportunities for the people of Kazakhstan. The petroleum resources of the Caspian Sea attract increasing attention. We hope that the Agip KCO expertise and understanding of how to operate within the environmental legislation of Kazakhstan will help the companies willing to work in the Kazakhstan (and, to a certain extent, in the Russian) sector of the Caspian Sea avoid difficulties and better distribute their resources when solving the issues related to environmental protection and interaction with the relevant governmental authorities.