You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
08(57( 0Ì67,&$ /D 0XHUWH 0tVWLFD<br />
/D UHVLVWHQFLD GHO HJR<br />
8QD GH ODV FRVDV PiV GXUDV HV UHFRQRFHU HO LQPHQVR PDU QHJUR TXH FRQVWLWX\HQ QXHVWURV<br />
SURSLRV DELVPRV DWyPLFRV LQWHULRUHV 6yOR ORV YDOLHQWHV DVXPHQ OD DFWLWXG VHULD GH FRPSUHQGHU<br />
TXH OD ,QLFLDFLyQ FRPLHQ]D FXDQGR DQKHODPRV OLEHUWDUQRV GH ODV IXQHVWDV FRQVHFXHQFLDV GHO<br />
HJR R Pt PLVPR<br />
$O HJR OR SRGHPRV FDUDFWHUL]DU GH OD VLJXLHQWH PDQHUD \ KDEOR GHO PtR \ SUREDEOHPHQWH GHO<br />
TXH WRGRV WLHQHQ SXHV QR OR WHPHPRV DO XVR GHO PtR WX\R R DO QXHVWUR YXHVWUR SRUTXH QXQFD<br />
SRGUtDPRV QHJDU TXH HO 0DFKR &DEUtR WLHQH VXV SDWDV VXPHUJLGDV HQ HO ORGR PDV VXV FXHUQRV<br />
WRFDQ HO FLHOR HO TXH TXLHUD HQWHQGHU TXH HQWLHQGD \ HO TXH TXLHUD HVWDU FLHJR PLVHULFRUGLD \<br />
MXVWLFLD<br />
$O HJR QR OH LQWHUHVD PRULU OH LQWHUHVD SUHYDOHFHU DKRUD \ VLHPSUH<br />
1R TXLHUH GLVPLQXLU VX SRGHU PiV ELHQ HVSHUD ODV RFDVLRQHV SDUD DFUHFHQWDUVH<br />
1R OH JXVWD OD YHUGDG DFRJH FRQ IDFLOLGDG ORV SHQVDPLHQWRV QHJDWLYRV XVD<br />
YHUViWLOPHQWH OD HORFXHQFLD VH HQPDVFDUD FRQ OD FDUFDMDGD GH $ULVWyIDQHV \ FRQ HO<br />
VDUFDVPR H LURQtD GH ORV VRILVWDV ORV TXH HVWiQ DFRVWXPEUDGRV D YHQGHU R FRPSUDU OD<br />
YHUGDG<br />
1R TXLHUH UHFRQRFHUVH QL DFHSWDU TXH HVWi GHVGH KDFH PXFKR WLHPSR SRVH\HQGR XQ<br />
FXHUSR TXH DQWHV IXH FHOHVWH GLYLQR \ TXH DKRUD HV OD YLYD HQFDUQDFLyQ GH ODV<br />
WLQLHEODV<br />
*R]D GHVDFUHGLWDQGR OD /X] TXH SUREDEOHPHQWH SXHGD KDEHU HQ ORV GHPiV \ HQJDxD<br />
D VX YHKtFXOR ItVLFR TXH WLHQH LQYDGLGR FRQ ODV IDODFLDV \ VRILVPDV FRQ OD HYDVLyQ \<br />
OD QHJDFLyQ<br />
6H YXHOYH XQ IDOD] \ IXULEXQGR DWDFDQWH GH WRGR OR TXH VXHQH D 025,5 (1 6Ë<br />
0,602 < OR KDFH VLQ QLQJ~Q GLVLPXOR SRUTXH MDPiV DFHSWDUi UD]RQHV QL<br />
LOXPLQDFLRQHV TXH YDOJDQ OD SHQD<br />
$WDFD D WRGR OR TXH WHQJD TXH YHU FRQ HO &ULVWR FRQ HO 6HU FRQ HO SURFHVR GH OD<br />
FDVWLGDG HO DPRU \ OD YHUGDG<br />
3RU VXSXHVWR TXH SRGHPRV DJUHJDU PiV VLQ HPEDUJR OR FDUDFWHUtVWLFR HV (9$6,Ï1 <<br />
1(*$&,Ï1 'RV FODYHV IXQGDPHQWDOHV SDUD HQWHQGHU PHMRU OR TXH HV OD UHVLVWHQFLD GHO \R<br />
(YDVLyQ<br />
(O TXH HYDGH VLHPSUH HVWi SHUGLpQGRVH HQ GLVTXLVLFLRQHV DUJXPHQWDFLRQHV FRQWUD<br />
DUJXPHQWDFLRQHV GHEDWHV HVWpULOHV GH OD pSRFD EL]DQWLQD HQ TXH WRGDYtD OD JHQWH VH SHUGtD<br />
FRQ DTXHOOR GH µ¢FXiQWRV GHPRQLRV FDEHQ SRU HO RULILFLR GH XQD DJXMD" FRPR VL HVR IXHUD OR<br />
LPSRUWDQWH +DEUtD TXH KDEHU LQGDJDGR ¢&8È172 (*2 7(1*2