serie NOVA TERRA nº 50

5HVXPHQ 3RU DQDWH[LD GH URFDV GHO 3UHFiPEULFR \ GHO 3DOHR]RLFR LQIHULRU VH IRUPDURQ YROXPLQRVDV PDVDV GH JUDQLWRLGHV GXUDQWH OD 2URJHQLD +HUFtQLFD TXH VRQ HO RULJHQ GH ORV JUDQGHV PDFL]RV JUDQtWLFRV GHO Q~FOHR FHQWUDO GHO RUyJHQR KHUFtQLFR HQ OD =RQD &HQWUR ,EpULFD &XDQGR HVWRV IXQGLGRV IXHURQ PRYLOL]DGDV SRU SURFHVRV WHFWyQLFRV \ R HQ IRUPD GH PDQWRV VXSHUSXHVWRV HQ OD OLWyVIHUD VXSHULRU ODV LQ\HFFLRQHV JUDQtWLFDV OOHJDURQ KDVWD ODV SDUWHV ODWHUDOHV GHO RUyJHQR KHUFtQLFR FRPR HV HO FDVR GH OD =RQD $VWXURFFLGHQWDO OHRQHVD =$2/ GRQGH DVFHQGLHURQ D IDYRU GH IDOODV S HM GH FL]DOODPLHQWR R GH GLVORFDFLyQ LQWUX\HQGR VHGLPHQWRV SUHFiPEULFRV \ GHO 3DOHR]RLFR LQIHULRU HQ IRUPD GH SOXWRQHV JUDQtWLFRV TXH DXQ D GLD GH KR\ DXQ QR KDQ VLGR H[SXHVWRV SRU OD HURVLyQ R TXH OR KDQ VLGR VROR SDUFLDOPHQWH FRPR HV HO FDVR GHO 3OXWyQ GH %RDO (O 3OXWyQ GH %RDO LQWUX\y GXUDQWH OD WUDQVLFLyQ GHO &DUERQtIHUR VXSHULRU DO 3pUPLFR LQIHULRU DSURYHFKDQGR OD FUHDFLyQ GH OD HVWUXFWXUD DQWLFOLQDO IRUPDGD SRU FXDUFLWDV GHO 2UGRYtFLFR LQIHULRU 6HULH GH ORV &DERV \ HVTXLVWRV GHO 2UGRYtFLFR PHGLR 3L]DUUDV GH /XDUFD =RQDV GH IDOODV FRQ GLUHFFLyQ SHUSHQGLFXODU D ODV HVWUXFWXUDV KHUFtQLFDV HQ HO QRUWH \ VXU GHO SOXWyQ IDFLOLWDURQ VX HPSOD]DPLHQWR 6H WUDWD GH XQ OHXFRJUDQLWR GH GRV PLFDV OLJHUDPHQWH SRUItGLFR GH JUDQR PHGLR GH FDUiFWHU FDOFR DOFDOLQR FRQ DOWR FRQWHQLGR HQ SRWDVLR TXH UHSUHVHQWD FODUDPHQWH HO UHVXOWDGR GH XQD HYROXFLyQ VLVWHPiWLFD DWULEXLGD D XQD FULVWDOL]DFLyQ IUDFFLRQDGD SRU GLIHUHQFLDFLyQ GH XQD IXVLyQ JUDQRGLRUtWLFR JUDQtWLFR GXUDQWH VX HPSOD]DPLHQWR (VWRV SURFHVRV PDJPiWLFRV \ WHFWyQLFRV VXFHGLHURQ UHODWLYDPHQWH WDUGH D ILQDOHV GH OD )DVH GH GHIRUPDFLyQ KHUFtQLFD HQ OD =$2/ ]RQD ODWHUDO GHO RUyJHQR KHUFtQLFR )(51È1'(= 68¬5(= HW DO GHWHUPLQDURQ XQD HGDG 8 3E GH P D SDUD HO IRUPDFLyQ GHO 3OXWyQ GH %RDO OR TXH HQFDMD FRQ ODV HGDGHV UDGLRPpWULFDV HQFRQWUDGDV SDUD ORV RWURV SHTXHxRV SOXWRQHV SRVWHFWyQLFRV GHO 'RPLQLR 1DYLD ± $OWR 6LO '1$6 GH OD =$2/ (O PHWDPRUILVPR UHJLRQDO GH OD RURJpQHVLV KHUFLQLDQD DOFDQ]y OD IDFLHV GH ORV HVTXLVWRV YHUGHV HQ ODV URFDV HQFDMDQWHV GHO 3OXWyQ GH %RDO (Q OD FHUFDQtD GHO 3OXWyQ GH %RDO HO PHWDPRUILVPR UHJLRQDO IXH VXSHUSXHVWR SRU XQ PHWDPRUILVPR GH FRQWDFWR GH OD SDUDJpQHVLV PLFURVFySLFD GH FRUGLHULWD \ VLOOLPDQLWD /DV FULVWDOL]DFLRQHV GH ORV QXHYRV PLQHUDOHV VREUH WRGR DQGDOXFLWD \ VX YDULHGDG TXLDVWROLWD UHVXOWDURQ HQ XQD JUDQXODFLyQ GH ODV 3L]DUUDV GH /XDUFD IRUPDQGR SL]DUUDV JUDQREOiVWLFDV \ QRGXORVDV 'HVSXpV GHO GHVDUUROOR GHO VLVWHPD GH GLDFODVDV \ IUDFWXUDV FDUDFWHUtVWLFR GH ORV JUDQLWRV \ GH OD DSHUWXUD GH ORV VLVWHPDV GH IUDFWXUDV FRQMXJDGDV GHO SOXWyQ S HM GXUDQWH HO HQIULDPLHQWR GHO SOXWyQ \ HVIXHU]RV JHRGLQiPLFRV VH IRUPDURQ ILORQHV GH FXDU]R SHJPDWtWLFRV TXH VH SUHVHQWDQ SUHIHUHQWHPHQWH SDUDOHORV D OD GLUHFFLyQ 6: 1( VXEYHUWLFDOHV \ FRQ XQ HVSHVRU YDULDEOH GH FHQWLPpWULFR D PpWULFR (VWRV ILORQHV GH FXDU]R TXH DIORUDQ VREUH WRGR HQ OD SDUWH VHSWHQWULRQDO GHO SOXWyQ IXHURQ PLQHUDOL]DGRV SRVWHULRUPHQWH SRU IOXLGRV GH FRQGLFLRQHV WHUPRTXtPLFDV GH QHXPDWROtWLFDV D FDWDWHUPDOHV WUD\HQGR HO ZROIUDPLR VXELHQGR SUHIHUHQWHPHQWH SRU IDOODV D OR ODUJR GH ODV VDOEDQGDV GH ORV ILORQHV GH FXDU]R LQWHQVLYDPHQWH WHFWRQL]DGRV /D VHULFLWL]DFLyQ GH ELRWLWDV \ SODJLRFODVDV GHO JUDQLWR HQFDMDQWH OLEHUy HO FDOFLR TXH IRUPy FDOFLWD TXH DVt TXHGy HQ GLVSRVLFLyQ GH SUHFLSLWDU OD VFKHHOLWD III

RkJQdWJsaXNoZXIy NzcwNTQ1