serie NOVA TERRA nº 50

QRURHVWH GH %RDO HQ OD FRVWD FDQWiEULFD )LJXUD 6H WUDWD GH HGDGHV GH 5E 6U GH ELRWLWDV TXH IXHURQ GHWHUPLQDGRV HQ HO /DERUDWRULR GH *HRORJtD GH ,VyWRSRV HQ $PVWHUGDP 7DE (VWD WDEOD VH FRPSOHPHQWy FRQ ODV HGDGHV 8 3E GH )(51È1'(= 68È5(= HW DO SDUD ORV SOXWRQHV GH %RDO P D \ $QFDUHV P D TXH HOORV FRQVLGHUDQ FRPR JUDQLWRV ³SRVWHFWyQLFRV´ &RPR OD SUREDELOLGDG GH HUURUHV P D GH ODV HGDGHV 5E 6U HV PiV GHO GREOH GH ODV GH ODV HGDGHV 8 3E HV FUtWLFR GHGXFLU XQD VXFHVLyQ SUHFLVD GH HPSOD]DPLHQWR GH HVWRV FXDWUR SOXWRQHV 0iV ELHQ VH SXHGH LQWHUSUHWDU TXH VXV HPSOD]DPLHQWRV WXYLHURQ OXJDU PiV R PHQRV HQ HO PLVPR SHUtRGR KDFH XQRV PLOORQHV GH DxRV 8WLOL]DQGR ORV GDWRV JHRTXtPLFRV GHO WUDEDMR GH 68$5(= HW DO XQD PXHVWUD GH (O 3DWR \ RWUD GH 6DODYH 7DE VH FRPSDUDURQ FRQ ODV PXHVWUDV GHO JUDQLWR GH %RDO 3RU ORV GLIHUHQWHV VtPERORV WULDQJXODUHV GH DPEDV PXHVWUDV VH SXHGHQ LGHQWLILFDU HVWDV GRV PXHVWUDV HQ ODV JUiILFDV GH ODV )LJXUDV 3RU OD GLVWDQFLD \ SRVLFLyQ GH ORV WUHV DIORUDPLHQWRV JUDQtWLFRV SDUHFH LQWHUHVDQWH HVWD FRPSDUDFLyQ SHUR VLQ DQiOLVLV GH PiV PXHVWUDV GH (O 3DWR \ GH 6DODYH QR SRGHPRV FRQILDU WRWDOPHQWH HQ ODV UHODFLRQHV HQFRQWUDGDV 2EVHUYDQGR OD SRVLFLyQ GH ODV GRV PXHVWUDV HQ ORV GLVWLQWRV GLDJUDPDV )LJXUDV \ FRPSDUDQGR GLUHFWDPHQWH ORV GDWRV JHRTXtPLFRV VH SXHGH OOHJDU D OD FRQFOXVLyQ TXH ORV WUHV SOXWRQHV JUDQtWLFRV SURYLHQHQ GH XQDV PDVDV IXQGLGDV GH JUDQtWLFDV D JUDQRGLRUtWLFDV SDUHFLGDV &RPR HV D HVSHUDU GXUDQWH OD LQWUXVLyQ LQGLYLGXDO D SDUWLU GH XQD IXVLyQ JUDQtWLFD FRP~Q OD GLIHUHQFLDFLyQ PDJPiWLFD OOHJy D GLIHUHQWHV QLYHOHV FDXVDQGR FLHUWD YDULDFLyQ HQ OD FRPSRVLFLRQHV JHRTXtPLFD GH HVWRV WUHV SOXWRQHV 6LQ HPEDUJR QR VH GHEH ROYLGDU TXH XQD IXVLyQ JUDQtWLFD SXHGH PRVWUDU FLHUWDV LQKRPRJHQHLGDGHV D OR ODUJR GH XQRV NP GH GLVWDQFLD HQ GLUHFFLyQ GH ODV HVWUXFWXUDV SULQFLSDOHV KHUFLQLFDV \ RWURV NP SHUSHQGLFXODU D pVWDV 6DODYH %RDO \ XQD GLIHUHQFLD GH DOWLWXG GH PiV GH P &RPR YDPRV D YHU PiV DGHODQWH ODV LQYHVWLJDFLRQHV UHODFLRQDGDV FRQ HVWH WHPD DYDQ]DURQ HQ ODV ~OWLPDV FXDWUR GpFDGDV GHVGH \ DKRUD VH VDEH TXH HO FRPSOHMR JUDQLWRLGH GH 6DODYH VH FRPSRQH GH YDULDV SHTXHxDV LQWUXVLRQHV LQGLYLGXDOHV 52'5Ë*8(= 7(5(17( DW DO (Q VX WUDEDMR )(51È1'(= 68È5(= HW DO DWULEX\HQ VX PXHVWUD GHO 3OXWyQ GH %RDO D ODV ³JUDQRGLRULWDV PRQ]RJUDQLWRV´ \ VX PXHVWUD GH 3OXWyQ GH $QFDUHV D ORV ³OHXFRJUDQLWRV´ &RPR KHPRV YLVWR HQ HO FDVR GH ODV QXPHURVDV PXHVWUDV GHO JUDQLWR GHO 3OXWyQ GH %RDO OD FRPSRVLFLyQ JHRTXtPLFD GH pVWDV SUHVHQWD FLHUWD YDULDFLyQ SRU OR FXDO FRQYHQGUtD DQDOL]DU PiV PXHVWUDV GH FDGD SOXWyQ H LQFOXLU WDPELpQ ORV SOXWRQHV GH &DPSR GH $JXD &DGDIUHVQDV \ 3RQIHUUDGD UHIHULUVH D OD )LJXUD &RPR HO 3OXWyQ GH %RDO SUHVHQWD XQ HVWDGR PiV DYDQ]DGR GH FULVWDOL]DFLyQ IUDFFLRQDGD FRPSDUDGR FRQ ORV SOXWRQHV GH 6DODYH \ GH (O 3DWR VH SXHGH SHQVDU TXH pVWH HV PiV MRYHQ TXH ORV ~OWLPRV GRV (O 0DSD 0HWDORJHQpWLFR GH (VSDxD KRMD QR ± $YLOpV LQGLFD OD H[LVWHQFLD GH PLQHUDOL]DFLRQHV KLGURWHUPDOHV GH : UHODFLRQDGDV FRQ HO SOXWyQ GH 6DODYH VLQ GDU PiV H[SOLFDFLRQHV (Q HO HVWXGLR GH *(27(&1,&$ VH GHVFULEH XQ ILOyQ GH FXDU]R PLQHUDOL]DGR FRQ ZROIUDPLWD FRQWHQLHQGR =Q SHUR SREUH HQ 0Q DUVHQRSLULWD \ WDPELpQ JDOHQD PLQHUDV GH 3E HQ HO 3OXWyQ GH (O 3DWR OR TXH HV DSR\DGR SRU OD REVHUYDFLyQ GH SHTXHxDV JDOHUtDV \ WULQFKHUDV HQ OD ODGHUD DO VXUHVWH GH OD DOGHD GHO PLVPR QRPEUH &$3'(9,/$ LQGLFD FRPR RWURV DXWRUHV WDPELpQ TXH HO SOXWyQ GH 3RQIHUUDGD SUHVHQWD WDPELpQ PLQHUDOL]DFLRQHV GH 58