Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Matria
ANTONIO SILVA
Matria
E D I T O R I A L
CUARTO PROPIO
Matria
© ANTONIO SILVA
Inscripción Nº 162.236
I.S.B.N. 978-956-260-423-9
ODySHUDIXHHQVD\DGDGtD\QRFKHXQDSLH]D
VHQWLPHQWDOSDUDORVFRPHQVDOHV
XQDSHTXHxDYHQWDQLWDGHFKROJXiQ\YLVLOOR
FRORUPXHUWRSHUPLWHDOOHFWRUÀVJRQHDU²\SRUTXp
QRUHtUGHODLQGLDWUDYHVWLGDGHVHOYDOtULFD
<RQRHOHJtHORSHUiWLFRGHFRUDGRGHODFRUGLOOHUD
SHUR
SLQWpGHVDO\URVDORV$QGHV
SDUDFRQWHPSODUHQpOHOEODQFRUGHXQDSDWULD
0HYHVWtFRQORVDWDYtRVGHPLPDGUH
0HVDTXpORVRMRVSDUDQRPEUDU
(GLSDVDQWLÀFDGDGHFRURQDV
(QODFHJXHUDYLDODLQGLDTXHFXHOJDGHPLVYpUWHEUDV
ORFDTXHHMHUFLWDHQPDSXxRO
HOFHOXODUFRUURGHODVVROHGDGHV
¢&yPRFRPSUHQGHUHOSDMDUDOFDQWRGHWXERFDHQHO
QtYHRDQRQLPDWRGHODVSDODEUDV"
¢$TXLpQSUHJXQWDUOHSRUHOVXURHOQRUWH"
+HLQYHQWDGRXQDSDWULDSDUDORVGHVSDWULDGRV
PLSHTXHxDtWDFDPLIXWXUDOHQJXD
3DUDHOLJQRWRIXOJRUTXHYLEUDHQYHQWDQDVWDSLDGDV
3DUDHOKHFKL]RTXHXQDPXMHUGHVSOLHJDHQODÀQLWXG
GHODVWLHQGDV
3DUDODFDUFDMDGDFHVDQWHHQODIXJDFLGDGGHXQ
DWDUGHFHUDOFRKyOLFR
HQXQWHPSRiIRQR\iIDVLFR
9
Matria
3DUDHOFXHQFRGRQGHODVFRVDVFDHQ\
GRQGHFDGDVHQWLGRUL]DODFRQFDYLGDGGHXQFXHUSR
3DUDODSHTXHxDGLVWDQFLDGHWXVKXHVRV
TXHLPLWDXQIXWXURGtDEODQFR%ODQFR
GHPLPHPRULD
3DUDHOHVSHMDOJHVWRGHWXPDQR
HQODWUHQ]DGHODVHOYD
3DUDODGLVSRVLFLyQGHOREHOOR
HOR[tJHQRGHWXERFDVREUH
HOSHODMHGHPLVGHGRV
3DUDWXFDEH]DLQGLD
5DPHUD$PDQFHEDGDGHVRO$]WHFD
2QD0D\D=DSRWHFDDUDXFDQLWD
4XHFKXD$LPDUi1DJXDWO
'HVDQJUHPLYHVWLGRMDPiVDPHULFDQD
+XN,QGLDSD0LQXHWR
7URPSDQQH*DSDFKDFXQ7]D\,FKLVDM
6HOYDSLWD8FKNXQNDM
10
Antonio Silva
=DSDWRVGHFDPSHVLQD
$GRUQDGDFRQODSREUH]D
GHVXYHVWLGR
&RPRHQXQÀOP,WDOLDQR
(QVRQRUDEDQGDGHKDPEUXQD
8QDWUHQ]DGHDPRUTXHHQUXIXORLQGLDMH
'HYLHQH$%(&('$5,2
(QHOIRVIRUHVFHQWHDPDQHFHUGHXQDSOD]D
7RGDVWXVLQGLDVWRGDVWXVPDGUHV
8QDOXPEUHKLVSDQD
VRPEUHDGDGHEDQGHULWDVGHORV$QGHV
8QDPXVLTXLOODGHFUtRVHQHOSOLHJXHGHORV]DSDWRV
/DFRVPpWLFDGHXQGtDFDQVDGR
<RIXLHOHJLGD0LVV(VSHUDQ]D
HQODSULPDYHUDGH
$ODPDxDQDVLJXLHQWHPLFRUD]yQ
HVXQFKDUFR
7XQRPEUHHVXQDKXHOODGDFWLODU
HQODYHQWDQLOODGHXQEDQFR
/DPRONDERUUyPLFXHUSR
&RPLOODVDOiPEULFDV
HQODFULQD]DEDFKH
7XSHTXHxRQRPEUH
HQOD~QLFDFDOOHTXHDPDVWH
>DOFRVWDGRGHXQDFDUUHWHUD
PLV]DSDWRVVRQXQDMLWDQMiIRUD@
11
Matria
&XDUWRVGH(VFULWXUD
SDUDXQDFRQVWLWXFLyQGHJXLyQ
´ODQXHVWUDHVXQDHUDGHVLPXODFURVQRGH
GRFXPHQWRVDQWHVGHVX´YHUGDGµODFLWDHVXQ
HIHFWRGHOWH[WRµ
2PDU&DODEUHVVH
,QW&XDUWRGHHVFULWXUD0DxDQD
/DDpUHDVRPEUDGHXQSiMDURFRUWDHQGRVHOYLVLOOR
PDWXWLQR/DVVRODUHVDJXMHWDVUXEHDQD~QPiVHO
GHWDOOHFDSLODUGHODVPHQLQDVXELFDGDVDOQRUWH\TXH
SRUH[WHQVLyQGHVXVPLUDGDVWRGRVHUiXQVXU(Q
HOVXUXQHVSHMRGHOHQJXDVDFDUDPHODGDVDWUDSDHQ
VXGREOHDOUH\\ODUHLQDHQWULQDOPXVLTXHR6REUH
XQDPHVD&KLQDPDSDVSODQRVUDGLRJUDItDVHWF\
HQHOERUGHHQODRUODGXUDGHOPDQWHOQDFDUDGRGH
JRUULRQHVTXHHQODFDEH]DGHFKLOHQREDLOHWULQDQXQ
VREUHODFUDGR3ULPHUSODQR'HVGHHOH[WHULRU$QJpOLFD
0DUtDHQPH[LFDQRSDODGDUWHQVLRQDODHVFULWXUDIDFLDO
GHODLQIDQWD0DUJDULWD&RUWH$
,QW&XDUWRGHHVFULWXUD$WDUGHFHU
(QFDOLSVROHQWHDQJXODUXQDVRPEUDLQWHUUXPSHHO
JHPHODUSDQRUDPDGHORVPRQDUFDV(OFXDUWRHVXQ
LQFHQGLR%RUHDO(OGHWDOOHGHXQDPDQRXQDWULQLGDG
TXL]iJLUDHQGHFLEHOHVWHUHRDOWLHPSRTXH+D\GQ
UHFRPSRQHODPXHFDS~EHUGHODLQIDQWD$OJXLHQ
DEUHXQDSXHUWD\FRQHOORHOWURSHOGHXQSURJUDPD
GHWHOHYLVLyQ0LVV8QLYHUVRTXHHQEURFDWWRLQJOpV
12
Antonio Silva
GRPLQDODHVFHQDXQJHVWRHQÀORVRODPHQWRKDFH
GHOLQVWDQWHXQFKURQRVGHSXHUWD\]DSDWRV6REUHOD
PHVD&KLQDTXHDKRUDHVPiVTXHDPDULOODXQHVSHMR
GHPDQR\PiVGRFXPHQWRVVHUSHQWHDQHQODYpUWHEUD
VRPEUDGHXQDOiPSDUD7DLODQGHVD+D\GQ
DXQJLUDVREUHVXHMH/DYLRODGDFDUWDGHMDYHUHQHO
DKRUDHVFDUODWDHVFHQDULRVXPHQVDMH
>>SRHPD@@
FRUWH$
([W&DOOHGH6DQWLDJR1RFKH
/HQWHHQ7UDYHOOLQJ8QVHPiIRURYHUGHHVSHUDQ]DHQ
ODFDEHOOHUDUDODTXHPLUD\HVSDQWDHQPHWiOLFRSHLQH
HOGLEXMRFURFDQWHGHXQDPDQ]DQDHQSHUSOHMRVLOHQFLR
XQDFLHJDFDQWD3ULPHUSODQRHOPLVHURFRUGRRMRGHO
3DGUH+XUWDGRHQERUHDOHVWRQDOLGDGHVGHMDYHUXQ
FLHORGHDQJHOLFDOLQGLDMHXQDHVFHQDDOR0HOWRQ3ULRU
(O~OWLPRGHFRUDGRRULHQWDOWDSL]DGHFyUQHDVHODVIDOWR
SRSXODU]DUFLOORVDOÀOHUHVHVSHMHWRVPRVWDFLOODV\
SHUIXPHVURVHWRQHVQXGLOORVÁRWDQWHVJDVDV\HQODFHV
SROYRV\FKDSHV\DFDQWRVKHOpQLFRVHQSOiVWLFD
IDFWXUDGHFDOOHMRFRFNWDLO6KDNLUDHQWULQLFRFURVV
RYHUPXGDQDOJDVGHWLHQGDHQWLHQGDGHVGHXQOHQWH
DQJXODU(OWDJOLRGHXQURVWURPDTXLOODGRHVFRQGHXQD
YDURQtDDOPHQGUHRGHVRPEUDVHQHJLSFLRUDELOORRMDO
\GRVOXQDVTXHHQQtYHRSyPXOR²3KRERV\'HLPRV²
HFOLSVDQODYR]GHXQDFLXGDG4XL]iHOSRHPDD~Q
HVWpDKt
FRUWH$
13
Matria
,QW6XSHUPHUFDGR1RFKH
1XHYDPHQWHDQJXODU\VXEMHWLYD]DSDWRVWDFRUHLQD
MHDQVHODVWLFDGRVWHQVLRQDQWHVGHDUWLÀFLDODOXPEUDGR
XQFLQWXUyQGHPDULSRVD(VÀQJHTXHHQVLPXODFUR
YXHORUREDUSUHWHQGHHORYLOORGH/iTXHVLV¢LPLWDXG
DODVRVDPHQWDV"$OJXLHQGLItFLOGHSUHFLVDUWDJOLR
SHUÀOIUDQJHUqXQSLQFHODMHGHHVPDOWHHVWHULOL]DFDGD
SDVRVRTXLHWFRQVHUYDVGHWLHPSRDODHVSHUDGHVX
IUXLFLyQ\GHJOXWHWUDQVJpQLFRV\VDWXUDGRVJOXFRVR
VLODEHRGHSHUVDHQDQJDUTXHVDOYRHORMRGH$OiHQ
QDGDHQYLGLDDOSRSXODUODEHULQWRGHXQPHUFDGR,UDQt
¢$ULDGQDTXpYHVHQHORMRGHOPLQRWDXUR"$QJXODU
(QYLWULQDVROHGDG3KyERV\'HLPRVSURJUHVDQVX
FUHFLHQWH\TXHDJXGDRWDOYH]PHQJXDQWHHVXQD
QXEHGHOORLFDVRUTXHVWDGDHQXQ>HDV\OLVWHQLQJ@
´EpVDPHPXFKRµHOOD\VXVOXQDVGHUXIXODQRFWXUQD
GHVDORMDQODRSHUHWDTXHIXHVDOLGD\HQWUDGDHQVX
WUDQVIXJRPLUDU
&RUWH$
,QW&XDUWRGHHVFULWXUD0DGUXJDGD
/DYHQWDQDGHMDRtUHOSURVWLEXODUWLPEUHGHODV
OXFLpUQDJDV\TXHHQHOSOXJRGHVXVFDUFDMDGDVTXH
HVFDUQDGDGHVSLGHQYXOYHRVDURPDVHQHOWULDQJXODU
EXOWRGHORVMRYHQHWRV²TXHHVEHUPXGDVHQGHVHR²
&XPELD\IDUUDHQVRSUDQRHVWHUWRU$OJXLHQHQFLHQGH
XQPtQLPRVROWDLODQGpV>TXHSRUHOSLQFHODUGH
VXVXxDV\TXHHQJyWLFRFDUPHVtHPHUJHQFLDOD
FXWtFXODDELVDOVHDGYLHUWHTXHHVXQDYDURQDXQD
VD[tIUDJDXPEUtDODGHVHVSHUDFLyQGHOSLQWRU@TXH
HQÁXYLDOHOHFWULFLGDGHVVHFXHQFLDGHXxDPDQR\
14
Antonio Silva
GHGRHQFROLEUtSDUSDGHDU(OSRHPDKDDGTXLULGR
LQGHSHQGHQFLDRTXL]iDXQSHUPDQH]FDDKt
(QÀHURMXHJRODLQIDQWDRFXOWyHQHOHVSHMRODV
DODVGHOSRHPD&RQWHPSODGFRQWHPSODG
/DHQDQDVRVWLHQHXQDFDUWD
15
Matria
XQDLQGLDVHxDODVXDUWHVDQtDPHQRUDXQJUXSR
GHMDSRQHVHV\JULQJRV
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
0LQXHWRSDUDXQDLQGLDKXNLQGLDSDPLQXHWR
iPLQLXHWIRUDQtQGLDQ
75,É/2*2
16
Antonio Silva
'HVDQJUHPLYHVWLGR
MDPiVDPHULFDQD
PDLGUpVLQEORGQHYHU
DPpULFDQ
'HVDQJUHPLYHVWLGR
MDPiVDPHULFDQD
PDLGUpVLQEORGQHYHU
DPpULFDQ
'HVDQJUHPLYHVWLGR
MDPiVDPHULFDQD
PDLGUpVLQEORGQHYHU
DPpULFDQ
17
Matria
3LH]D;9,GHXQ+RWHO
´1RPRGHUQRDUWLÀFLR
ERUUyGHVLJQLRVERVTXHMyPRGHORV
DOFyQFDYRDMXVWDQGRGHORVFLHORV
HOVXEOLPHHGLÀFLRµ
*yQJRUD
3ULYDGDGHWRGDGXGDDSDUHFHDQWHWLFRPRXQGRUDGR
VSRWGHWHOHYLVLyQODKDOyJHQDVRQULVDGHXQDWRUUHFLWDGH
%DEHOOXJDUGHOHQJXDVVDQJUH\´SHTXHxDVPXHUWHVµ/D
QRFKHUHGREODVXQLJUHGRSDUDTXHHOUXEHGRGHWDQPtQLPR
SDODFHWHGHMHHQWLODHVWDPSLGDQXFOHDUGHKLHQDV\FHEUDVHQ
HOJODQGHGHWXEHVR(OFXULRVRDVHGLRGHOiPSDUDVMDSRQHVDV
TXHGLVSXHVWDVFRPREDUDWRVUXEtHVPiVELHQSDUHFHODFRÀD
IUXWDOGHXQDIHULDHQ&XUHSWR(VWDFLyQSRUQR/DVOODYHVGHO
FXDUWRFXHOJDQGHWXDQXODU\HQVXFKDVTXLGRUHFXHUGDXQ
GLiORJRGHDURV\OHQJXDV
>FRUWHD1(*52@
(OLQWHULRUGHXQFXHUSRIXHHOLQWHULRUGHRWURFXHUSRHQOD
UHVLGXDOLGDGGHORH[WHUQR
$SHQDVHOURSDMHGHODQRFKH
$SHQDVQXHVWURVEHVRVTXHHQOXQDUGLVSDUR
IXHDPRUHQRWURFXDUWR
&XDQGRHOWRURVHSUHVHQWH
HQODFDVDGHODVERGDV\VHDIHUUH
FRPRQ~ELOJLJDQWHDODVFLQWDVGHOFRUD]yQ
(QItVWXODFDUDYDQD
ODPLQXFLDGHWXERFDJXLQGDQHJUD
VREUHXQFXHUSRTXHQRKDOOy
HQDOTXLPLDVVXOLQDMH
18
Antonio Silva
3DUDHOWRURODYLJLOLDHVPDOGLFLHQWH
SDUDWLXQOLQFHRUHIRFLODU
HQHODGRUQRGHXQDFRSD
(QWUD\VDOHODEDEXFOD
PDQFKDTXHGHJOXWHWXFRUD]yQ
TXHHVXQSiMDUR
TXHHVXQSpWDOR
WXMDUGtQ
HOVDKDPDLWKXQDHVLQWHUUXPSLGRSRU
DUWLÀFLRGHXQOHFWRU
19
HOPXVHRGHODSREUH]D
%XQJDORZ
>*HRPHWUtDVGHXQVXHxR@
´&8$1'21,f$62f$%$&216(5
/$6,59,(17$'(81$7(/(6(5,(0(;,&$1$
²PXFKDFKDLWDOLDQDYLHQHDFDVDUVH²
$48Ì/265(6726
3$5$'$(1&8$7527$%/$6
(1&8$752%2&$6&8$752
48(35(),*85$181$&$6$
81$0(025,$
&$5'80(1'(&+2=$6
(1'(8'$'$6+$67$(/%5$6(52'(/$/0$
',*1263(52',*126
6(59,8(6/$&$7('5$/'(0,6
+(50$1$6
/$'20,1*$7(50,1Ð&21(/&25$=Ð1
+(&+2*5('$
/$0,.$(/$'(6$3$5(&,Ð%$-2/$
'(17$'85$'(/$6%$/$6
7$125*8//26$
12)5(*$5e(181$$57(6$02'(512
)5(*$'(52'(&(0(172
/$6$1'5$7(1'5É68Ô1,&$62/$(1/$
3,(=$62/$/$6$1'5$
23
Matria
7$17272'20(&8(67$7$172
25$38('26(17$50(75$148,/$$5,=$5
*8$,3(
/$7(/(6(5,(
/$(;7(16$*(20(75Ì$'(8168(f2
7$125*8//26$
/$&2&,1$;
/$3,(=$'(6$1'5,7$;
;(//,9,1*&20('25
/$0$548(=$0(&$%(-8672(1;
(/%$f2;£<&217$=$'(/2=$
(/3$,6$-(/23,17e(1(/&$//$03(5Ì2
/$&$6$0,%(//$<)8*$=(67$'Ì$
6(59,8(6/$&$7('5$/'(0,6
+(50$1$6µ
24
Antonio Silva
7HPSRUHUD
,
$OWDTXLFiUGLFRSXOVDUGHXQDHVWUHOOD
DEUHVHOFRUWLQDMHLPLWDQGRODDEHUWXUDGHWXVH[R
²OHQWDPHQWHDOQDXVHDEXQGRKHGRUGHODFRPSOLFLGDG²
/DRTXHGDGGHXQPtVHURSDVDMH
8QWHUULWRULRVLHPSUHDMHQR
,,
%DMRXQDOXQDLJXDOGHKRFLFRQDYXHOYHVFRQHOD]RWH
GHOWDFRUHLQD
VXFKDVTXLGRHQFLHQGHHOOHQJXDMHGHODPXHUWH
$OJRPiVGHODVGHODPDGUXJDGDXQED]DUDELHUWR
VyORSDUDODYHQWDGHFLJDUULOORVVXHOWRV
8QDGpELOP~VLFDÀOWUDODRUODGXUDGHODQRFKH
(OTXHMLGRGHXQDUHMDGHWDEODV
/DDPSROOHWDHVXQRMRDWyPLFR
TXHWRGRORWLxHGHDPDULOORVLQLHVWUR
,,,
8QODULQVFULWRHQHOGREOHPHQWHWHUFHUPXQGRHO
WUDVWHUtRGHROODVHVSHMHDHQODIDWXD
OXPEUHODDJRQtDGHXQDFDVWDHQGHVLQWHJUDFLyQWRWDO
6HSDUDGRSRUXQDViEDQDJUDVLHQWDWXSHGHVWUH
HLQJHQXRPXQGR
XQSyVWHUGH(PPDQXHOXQHVWXFKHTXHLUyQLFDPHQWH
WHGLFH´PLVFRVDVµ
(QFLHQGHVXQFLJDUULOOR\DOYROXPHQGHOD
SURPLVFXLGDG
7HLQWHUQDVHQHOGLDOGHODVDEDQGRQDGDVJXLxDVSHUOD
25
Matria
\SHVWDxD\WXODELRHVXQWHQGLGRHOpFWULFR
%DOEXFHDVHOQRPEUHGHWXKLMRHOGHXQKRPEUH
,9
0,+8$&+,720,&$%5,720,1,f,720,$025&,72
0,&$%5,720,1,f,720,$025&,720,+8$&+,72
$/)21'20,*5,72'(/$61$/*$6'(/$
7,(55$<(5%$027258'$3$/72
-$5'Ì1'(3Ô$6<20$5Ì$/(9,7$1'26,1
&$/=Ð1
6,1$025/$0,5$'$),-$(18125*$602
/$&$6$7,(0%/$9$&$3$7(·9$&$0$5$&$
/$&+$68(/7$
5$0(5$$0$1&(%$'$7(0325(5$
(/,1&(1',2(/$0256(7()8(
<2/$08(57$/$0(6(5$/$0$021$/$
&$5$3$57,'$
9
(QYXHOWRHQHOWtVLFRVXGRUGHXQDSUHxH]
HOFXHUSRGHXQDQLxDEDEHDQWH
3XSLODKRQGDVDO\WLHPSRHQODFLFDWUL]GHXQ~WHUR
/DUDGLRPDVWLFDHOHYDQJHOLRD]RWHSHUIHFWR/DFXOSD
9,
7XVROOR]RVHFRQIXQGH
HQHORUHRGHORViODPRV
'HVFDO]DFRQXQDWLULOOXGDHQDJXD
WHSDVHDVHQHOSHTXHxRSDWLRLQWHULRU
\XQWDVWXURVWURHQHODJXDHVWDQFDGDGHXQDDUWHVD
TXHSDUHFHFDOPDUODVHGGHXQFRUD]yQIDEULFDGRD
SDWDGDV
26
Antonio Silva
SDUHFHVXQDEUXMDLQWHQWDQGRVDOYDUDOJR
TXL]iVyORDWLPLVPD
9,,
7UHVRFXDWURSDODEUDV
ODJHVWXDOLGDGGHXQDFUX]
HOKLSQyWLFRFRMHRGHXQDPXMHU
LQWHUQiQGRVHHQODÀQLWXGGHODQRFKH
KDEODQGRVRODRFRQORVJDWRV²TXHHVWDQRFKH
SDVHOXHJR²
(OSDVRGHXQWUHQ\HOODGULGRGHORLUUDFLRQDO
DQXQFLDQFRQKRFLFRPHWiOLFRHOIXWXURGHYHQLU
HQODIUiJLORUDFLyQGHXQDPXMHU
9,,,
´6R\0DUtD-RUTXHUD0HOHQDRSHUWHQH]FRDHVDUDOHDGH
PXMHUHVHQODVFXDOHVVHGHSRVLWDWRGDODDQLPDGYHU
VLyQGHXQDPRUDOUXGLPHQWDULDVRVWHQLGDHQHOHMHUFL
FLRGHODSLGDFLyQ\H[LOLRGHODFRQFXELQDµ
(OPtVHURPRQyORJRYROWHDORVRMRVGHODQRFKH
WUDQVSDUHQWDQGRHOyVHROXQDU
/D~QLFDHEULDHVODPXHUWH\VyORHOODGHMDÁRUHV\EH
VRVIUHQWHDODSHTXHxDSXHUWDGHODVYHQJDQ]DV
8QDSROLOODDQXODHOIDUROGHWXFDVD
(OUXLGRGHOPDUVHLQWHUQDHQODFLXGDG
KDFLDSRWUHURV\HULDOHV
27
Matria
,;
/É03$5$(&/26,21$0,&$6$0,&$0$0,
+(50$1$
6$/7(5Ì2'(5$1&+$6
0,3$'5(0,0$'5(0,(1$*8$0,/(1*8$
/$/2&$/$3$6&8$/$/$0(125/$
',(=0$'$
'$0(81+20%5(81+,-281$0$f$1$
;
/DQRFKHKXQGHWXFXHUSR
KDFLDODFDOOHPiVLQKyVSLWDGHODWULVWH]D
'HODPLVHULDVLHPSUHKD\RMRViYLGRV²HOERWtQ
GHODLQVLJQLÀFDQFLD²
;,
(QODQDYDMDGHXQDPDxDQDGLEXMDVXQDFDVD
\FXHQWDVORVQXGRVGHWXWUHQ]D
(OVROIHUPHQWDODVERIHWDGDVGHXQDFDWiVWURIH
\HQWXSHORJUDVRDOJXLHQLPSULPHXQEHVR
PLHQWUDVORVHYDQJpOLFRVFDQWDQXQTXHMXPEURVR
KLPQRGHDPRU
\XQDURQGDGHQLxDVWHREVHTXLDXQD
/$1,f$0$5Ì$+$6$/,'2$/%$,/(
%$,/(48(%$,/(48(%$,/(
<6,12/2%$,/$&$67,*2/('$5É1
28
Antonio Silva
3DUDXQPXFKDFKRSHULIpULFR
eOTXHQDFLySDUDVHU
FRQWHPSODGRXQ$GRQLVDOyJHQR
\SREODFLRQDO
9LWXFDEH]DURGDUHQHOYRFDEOR
GHODQRFKH²PXFKDFKLWR²
7XHVSXUHRWDOHQWRGHQHyQVXGDFD
IRWRPRQWDMHOLQJXDO²PDSXxRO²
HOSHVRGH'LRVVREUH
WXSiUSDGR
7HYLFDPLQDUHQODYLWULQDGH
ORLQHYLWDEOHPHQWHGLDULR
>+R\²DORVWUHLQWD²QRWHIDOWDXQYDURQFLWR
TXHVLOEHDOiQJHOGHRMRVPXHUWRVHQFDGD
HVTXLQD@
'HÀQHVXQDFDQFLyQ
HQODYHVWLGXUDGHODULVD
8QDSULPDYHUDDWUDSDGD
HQODSREUH]DGHWXVRMRV
8QKRPEUHFD\yVREUHWXFXHUSR²WDPELpQFDOOy²
/DGLFWDGXUDGHO'(6(2
(OFDUQDYDOHVFRLGLRPDGHXQGtDGHIHULD
7HYLFDPLQDUHQRVDPHQWDLQYLHUQR
FRQOOXYLDHQHOKRPEUR
HQEXVFDGHXQGtDFODUR
KDFLDXQOXPtQLFRIXWXURpORWRUJDGLHFLVLHWH
YHQJDQ]DVHQSUHIRUPDWLYRSDODGDU
29
Matria
3UHWH[WR
(QHOPXVHRGHSHWLFLRQHV
²&RDWOLFXHERUGDXQHVWUHOOD²
0XVHR\PDXVROHRVRQSDODEUDVFRQHFWDGDVSRU
DOJRPiVTXHODDVRFLDFLyQIRQpWLFD
/RVPXVHRVVRQORVVHSXOFURVIDPLOLDUHVGHODV
REUDVGHDUWH
7KHRGRU:$GRUQR
8QDULVDGHQLxDV8QDDYLVSDEODQFDTXHHQVXVHWHR
DWUDSDHOQHJURDPRUGHORVOLULRV²XQSXxDOGHYLGDHQ
HOFRUD]yQGHXQ'XDW²
3HTXHxRVDSDUWDPHQWRVTXHPXVLFDOL]DGRV\ODFUDGRV
KDFHQGHOSDLVDMHFXULRVDPHQWHXQFDGiYHUH[TXLVLWR
&DODVURVDVFODYHOHVLOXVLRQHV\X\RVFDSDFKLWRV
RUTXtGHDVWXOLSDQHV
\XQJRUULRQFLOORFRQHFWDQODHVFHQDFRQXQQLUYDQD
PHQWDO
/DYLGHQWHVHOODPD&RDWOLFXH
8QGLDPDQWLQRWHPEORUODOiPSDUDGHGLRV
DVHVLQDHQÁRUDOPHUFDQFtDHOUHODWR
(QPHGLRGHOFROODJHODHVFULWXUDUHFXHUGDXQSRHPD
6R\ODYLUJHQTXHDSDUHFHGHYH]HQFXDQGRVR\ODQLxD
VLOEDQGR$OÀQDOGHOFHPHQWHULRODPDOQDFLGDPHGHFtDQOD
VROLWDULD\ODORFD
30
Antonio Silva
>'HDUR\FLHOR\HQPXMHULODUWLÀFLRXQFROLEUtGHFDSLWD
HSLWDÀRV\MDFLQWRV@
$VtFRPRXQ0DOOH[SRQHVXVJUDVDV\FDUERKLGUDWRV
(OQLJURPDQWHPHUFDGRDYLVDHQVXUHFRUULGRRWURXVR
SDUDWDUURV\ODWLWDVGHEHELGDVVRVWHQHUHODJXDGHWX
ÁRUGHPLÁRU
&UX]DVHOSyUWLFRGHXQD~OWLPDEHOOH]DRUQDPHQWDO
8QSHTXHxRSXHQWHSDUDWULQLGDGHVPD\RUHV
8QEDUXOORERWiQLFRVLOHQFLDGRHQVXDXVWHULGDG
&LULRVYXOJDUHVViQGDOR\VROHGDG
8QJDWRGHOR]DVLHPSUHYLYDVLHPSUHPXHUWD
/DXULWD9LFXxDHQXQYHUJHOGHQ\ORQ
3HOXFKHV\WUDSRV
$QJHOLWRVGHXQGRUDGRPXHUWR
<HQHOFHQWURODLQGLDPLUDGDGHXQDKXpUIDQD
8QDSHTXHxD*XDGDOXSHiSDWULGD\FRURQDGD
TXHGLVSXHVWDFRPRLQPDFXODGRWHDWUR
GHODPDxDQDKDFHXQGHVDVWUHXQPLODJUR
&RDWOLFXHYLJLODSpWDORV\FDGiYHUHV
8QDFDUWDVHOODGDVHGHVFXHOJD
GHVGHHOURMRQXGRGHXQDURVD
&LUFXQGDGDGHLOXVLRQHV/DVQXHVWUDV
&RDWOLFXHDGRSWDODÀJXUDGHOPHGLR
'tD
31
Matria
%HDWLWXG
&DUWDVKDOODGDVHQXQFHPHQWHULR-XDQD,ULVQRSXGR
HYLWDUFOHSWyPDQDFRPXQLyQ
0DOYLQLWDWHHVFULERHVWRSDSHGLUWHXQSHTXHxRIDYRUTXH
PLSDSiEXHOEDDTXtFRQPLJRSRUTXHpOHVWDHQ9DOSDUDtVR
HVSHURTXHPHDJDVHVHIDYRU\DODRWUDEHVOHYLQHDEHUFRPR
XVWHHVSRGHURVD\RVHTXHXVWHPHEDDFHUHVHIDYRU\TXLHUR
TXHHOKRPEUHTXHHVWDHQPLFDVDVHYDOOD\TXHGHPRVFRQ
PLPDPDRWUDJHQWHHVFXFKDGRGHWLTXLHURSHGLUWHRWURIDYRU
TXHHVWHFRQHOQLxRTXHPHJXVWDSRUTXHHOQRPHTXLHUH\
\RPHPXHURSRUHOJUDFLDV
.DWKHULQH$
7HHVFULERHVWDFDUWDSDUDGHFLUWH\GDUWHXQPLOOyQGHJUDFLDV
SRUHOIDYRUFRQFHGLGRDKRUDTXHHVWR\FRQHO
eOVHOODPD-XDQ)UDQFLVFR6HJXQGR'tD]/HyQSRUIDYRU
VHORVXSOLFRGHWRGRFRUD]yQTXHPHTXLHUDPXFKR\TXH
QXQFDPHGHMHVROD\DQRTXLHURVXIULUGHQXHYRSRUTXH
VLHPSUHSLHUGR\RODTXLHURPXFKR
0DUtD7HUHVD$=
32
Antonio Silva
&RQWRGRUHVSHWRTXHXVWHGVHPHUHFH\ROHHVFULERHVWR\RQR
VHTXLHQDEUDOHtGRODFDUWDSHURHVR\RVXSRQJRTXHHVPDOR
DFXpUGHVHGHPL$OH[DKRUDTXHVHYDDOVHUYLFLRFXtGHPHOR
TXHVHDFXHUGHGHPLVLHPSUH\TXHQRYD\DDHQFRQWUDUD
RWUDSRUTXHDHO\RORTXLHURPXFKR*UDFLDV
<HQQ\0DULEHO08
0DOYLQLWDD\~GDPHSRUIDYRUWHORUXHJRTXHODELRVLD
VDOJDQHJDWLYDTXHQRWHQJDQORTXHGLFHQSRUIDYRUTXH
WDPELpQSDSDQLFRODRVDOJDEXHQR\TXHHOVLWLRTXHHVWDPRV
YHQGLHQGRVHYHQGDSRUIDYRUHVSHURFRQÀDGDHQWL
/HWWLFLD03
+RODPDOYLQLWDVR\.DWW\QRVHVLWXPHFRQRFHVSHUR\RD
WLVtVR\UDUDHVWR\FRQIXQGLGDQRVpTXHKDFHUWHFXHQWRQR
VHORVKRPEUHVQRPHUHFHQSHURODFXHVWLyQHVDVtD\~GDPH
PDOYLQLWDTXHHO&ODXGLRGHOFXDUWR)VHÀMHHQPL\PH
TXLHUD\TXHOD-XDQDSDVHGHFXUVRSRUIDYRUJUDFLDV
.DWW\
33
Matria
/DLQVLJQLÀFDQFLDGHOJHVWR
,
&RPRXQDQRYLH]XHOD
HQODQRFWXUQDVROHGDGGHXQDSOD]D
HODPRUVHSHLQDHQXQDVLOOD
FDO]RQHVUDtGRV\]DSDWRVGHSROYRGHGLDPDQWHV
GHMDQRtUHOPXVLTXHRGHXQDFDPSHVLQD
6HYHHQODVERFDV\HQODVFDPDV
HQORVOXPLQRVRVHQODVOtQHDVGHXQDPDQRHQODV
LJOHVLDV
HQODJXHUUD\HQODSD]HQODVYLWULQDVGHPRGDHQOD
OX]GHXQDSULPDYHUD
HQODSHVWDxDGHXQDDYLVSDHQHOSiUSDGRGHXQFLHJR
HQODFRQIHFFLyQGHXQYHVWXDULRHQXQDPHVDMXQWRD
XQUtR
HQHODQLOORGHPXHUWHGHWXPDGUHHQXQDSLVWROD
HTXLOLEUDGDHQODVDJXMHWDVGHOVRO
HQODLQPDFXODGDFRURQDGHXQWUDYHVWL
HQHOPXVHDOODEHULQWRGHXQVXSHUPHUFDGR
HQXQDSOD]DLPLWDQGRODVRQULVDGHORVVROLWDULRV
HQXQEDxRS~EOLFRHQXQDPtQLPDWHOHVHULH
HQODPLUDGDGHXQDSREODGRUD
HQHODUHWHGHOPDULFDTXHPLUDHQSL]FD
RHQHOGHVWHOORGHXQDJRWDDOÀQDOGHXQDUDPD
RHODJXMHURHQHOFRUD]yQGHXQQLxR$IJDQR
HQODFRMHUDGHOVROVREUHODSD]GHXQGtDGHFDPSR
HQHOWUD\HFWRGHXQDOHQJXD
RHQXQDFLXGDGSLQWDGDVREUHODSLHOGHODVDUQD
(ODPRUFRQWHPSODVXJHVWRVXLQVLJQLÀFDQFLD
(ODPRUHVXQQLFKRVLQWDSDQLQRPEUH
34
Antonio Silva
,,
8QDSDUWtFXODGHDPRU
4XHHVXQSiMDURXQDDPDWLVWDXQIRQHPDXQD
FDMLWDPXVLFDO
XQSUHQGHGRUODVDOLYDGHWXPDGUHXQDUPRQLRXQ
DGDJJLR
HQODSLHOGHWXHQDPRUDGRXQURMRFDUGHQDOHQHO
KLORPXHUWRGH
WXVBBBBBBBBBXQDSpUJRODXQGLVIUD]XQDJXLUQDOGD
HQHODWDUGHFHU
GHXQYHUDQR
HOFOtPD[GHVYDQHFHHOGHFRUDGR\FRPRHQXQDySHUD
&KLQDWHHQWUHJDVDORPLVWHULRVR
(QODPHQGLJDÁRUTXHQRDPDPRVHQ
NXQGDOLQL\ODDQWLJXDHVSHUDQ]DHQODFDVFDGDPDWLQDO
HQODDQGURJLQLDHQODFHJXHUDGHWXFDQWR
VtLQFUHVFHQGR
HQXQÀOPGH*RGDUGR$QWRQLRQL
HQXQMDFDUDQGiLOXPLQDGRSRUXQKRPEUH
HQ-XDQD,ULVODPDWULDODKXpUIDQD\ORV
PLODJURV
HQHORURVHPLQDOGHXQMRYHQ]XHOR
HQWXFXORKHULGR
HQWXVSDUWRV
HQODEODQFDP~VLFDGHXQDPRUJXH
HQODWUDQVXEWDQFLDFLyQGHODUWHPDQLFXUH
FRVPpWLFD\SLQFHODMH
HQODSREUH]DHVSLULWXDO
HQXQFRUD]yQGRQGHKHFDYDGRODWXPEDGH
PLSDGUH
PLPDGUH
35
Matria
+HDTXtPLVLJQR
+HDTXtPLGLDPDQWHLQYHUWLGR
1RWD/XHJRGHHWtOLFRWUDQFHFDHVGHVPD\DGDVREUHXQ
UDPLOOHWHGHVROGDGRV/D,ULVQRSXHGHH[SOLFDUTXHVX
FRUD]yQKDPXHUWR
&XDQGRXQKRPEUHSHQHWUDDXQDPXMHU²GLFHQORV
EHOODFRV²IRUPDXQDFUX]
FXDQGRXQKRPEUHSHQHWUDDRWURKRPEUH²GLFHWX
SDGUH²GLVHxDODLQYHUVLyQGH
XQDFUX]
FXDQGRXQDPXMHUIURWDVXHVSHMXHORFRQRWUR
HVSHMXHOR²GLFHQODV(ULQQLDV²VHKHFKL]D
DVtPLVPD\SLHQVDHQODJHRPHWUtDGHXQDFUX]
SHQHWUDU\VHUSHQHWUDGR²GLJR²
HVODOH\GHOXQLYHUVR
36
Antonio Silva
*UDQ$YHQLGD
XQDQRFWXUQDYHORFLGDG
*UDQDYHQLGDDSDUHFHFRPRXQSHTXHxR&KLOH
XQLQWHUPLQDEOHGtDGHIHULD
HQVXEHOOH]D\KHULGD
8QDWUDQVSDUHQWHFRVWLOODGHKDPEUXQD
GLVHFFLRQDGDSRUWLHQGDV\EXVHV
XQPtQLPRFROODUGH
SHUVDVWRSOHVV\GLVFRWHFDVXQEDULWRQDOVRXYHQLU
GHVRUGDVSDODEUDV
6yORH[SHULPHQWDVDOJRSDUHFLGRDDTXHO
FRQIXVRVHQWLPLHQWRHQODQRFKHGHDxRQXHYR
GRQGHHO+LPQR1DFLRQDOQRVDEHGHÀQLU
VLRGLDVRDPDVHVWDSDWULD
*UDQDYHQLGDHVXQKRPEUH
TXHFRUWDHQP~OWLSOHVPLWDGHV
XQDFDQFLyQQRHOHJLGD
HQHOGLDOGHWXOHQJXD
EDVWDUGD
37
Matria
)LQLWXG
¢4XpKRPEUHGHMXLFLRSXHGHHIHFWLYDPHQWHVHUSDUWLGDULRGH
XQDGRFWULQDWDQULGtFXOD"%DVWDPLUDUODPXOWLWXGTXHODDFRJH
SDUDGHVSUHFLDUOD6XVPDHVWURVQREXVFDQQL
HQFXHQWUDQPiVGLVFtSXORVTXHKRPEUHVVLQLQWHOLJHQFLD\GH
XQHVStULWXJURVHUR
&HOVR
(QXQWHPSORHGLÀFDGRSRUODGHPHQFLD
/RVHYDQJpOLFRVEUDPDQSRUXQWLHPSRSHUGLGR
$]RWDQOHSUDHQJXLWDUUDVTXHMDPiVOHVSHUWHQHFLHURQ
8QKRPEUHVHPDVWXUEDHQOHQWDFiPDUD
%DOEXFHDHOQRPEUHGHXQDPXMHUGHVÀJXUDGD
8QDOiJULPDGHpOHVXQRFpDQRGHDPRUHQRWUR
PXQGR
(QXQSDWLRLQWHULRU
8QQLxROORUDSRUTXHXQSiMDURKDPXHUWR
(OPXFKDFKRGHODGHPiQVHLQWHUQD
(QHOFLUFXLWRGHSXxDOHV\WD[LV
UXPERDODÀHVWD
8QDEDLODULQDERUGDÁRUHVGHJXDLSH
HQHOWHQGLGRHOpFWULFR
<VXVGHVWHOORVVRQXQDFRURQDLQ~WLOGHVDQWRV\
FULVWRV
1DGLHR\HDORVHYDQJpOLFRV
&XDQGRXQQLxROORUDSRUTXHXQSiMDURKD
PXHUWR
38
OORLFDVHQHODEUHYDGHUR
/RV0DULFDV
(ODQGUyJLQRHVFRQVLGHUDGRVXSHULRUDDPERVVH[RV
3RUTXHHQFDUQDODWRWDOLGDG\SRUORWDQWRODSHUIHFFLyQ
0LUFHD(OLDGH
&UX]DGRVHQXQSDUTXH
(QHOÀODPHQWRGHODVVRPEUDV
(QWUHGHVWLHUUR\IDURO
+DFHQVXHQWUDGDFRMDORVPDULFDV
/DVEHVWLDVGHiJDWDWRUFLGRVHLQPXQGRV
7URQFKDQGRFRQVXVJHVWRV
(OGHFRUDGRVLHPSUHEDVWDUGRGHXQDFLXGDGIHOLQD
/RVPDULFDV\VXVFLWDV
'HSiUSDGRHQSiUSDGRVXOHQJXDMHELQDULR
&RPRSROLOODVVLHPSUHDWHQWRVDXQDQXHYDDQWRUFKD
TXHVXUMDHQHOYHUJHOQRFWXUQR
8QRHVODRWUDODRWUDHVHOODHQPt\HQHORWUR
6XVSHTXHxRV\YLROHQWRVDFWRV
3DULGRVHQHVWHUWRUGHXQFLUFRSREUH
(QXQDOXPLQDULDVHHPERUUDFKDQORVPDULFDV
<UHODWDQVLHPSUHXQDPLVPDKLVWRULD
'HVSDWULDGRVORVPDULFDVOHYDQWDQXQDEDQGHUDXQ
SDxROHWHL]DGR
HQODIHWLGH]GHODVPXHODV
'HODPDQRYDQORVLQYHUWLGRV
$OHQFXHQWURGHPDWDULIHVOXPSHQDMH\VROGDGRV
$OHQFXHQWURGHPLFDQWR
$OHQFXHQWURGHXQSOXPDMHDEDQLFDO
41
Matria
/RFRV\WULVWHVORVPDULFDV
&RQGHQDGDPHQWHDOHJUHV
,QGHFLEOHPHQWHEHOORVEHOORV
42
Antonio Silva
/LQJXDO
QRFRQRFHPRVHOXVRGHODVSDODEUDV²IXHVXJUDYH
VHQWHQFLD²\FRPRFROLEUtVXOHQJXDVHSRVyHQXQMXHJR
GHDODV\VtODEDV²VHJ~QHOOD:LWWJHVWHLQ\/H]DPDWDUGHR
WHPSUDQRDSDUHFHUtDQ²
/LDGDHQHOOtPLWHGHXQOXQDUYHQXVWR
/HHVHOOXSDQDUODWLGRGHWXQRPEUH
/DFUDGD\ORFDKDFHVGHWXYR]XQ
/iWH[OLQJXDOHQHOURVDOGHODVYRFDOHV
/DFDUFDMDGDGHOLPRHQODYHUJDGHODQRFKH
/LEpOXODOXVWURVDVLPXODFURHQHOPXHFDO
-DFLQWRGHWXSDGUH
/HYLWDQWHODQDUGHOLHQGUHVRUTXtGHDQHIDVWD
HQHOXOXODUGHWXVPLHPEURVHQHO
/LQFHRSDUSDGHRVLOELFRRULQDOGHORVKRPEUHV
/DELDOOLJRVRGHWXFXHOORDOMyIDUHVTXHKDFHQGHWXERFD
XQDFXHYDGHGHVHRV
/HQJXDSHUGLGDHQHOOXPLQRVROHWUDOGHXQ&KLOHTXH
GHYLHQH
/iJULPDSHQH\KHULGD
43
Matria
-XDQD,ULVHQDOFRKyOLFRWUDQFH
UHFLWDEDDWRGRVXQDSHTXHxDFDQFLyQGHXQGHVDSDUHFLGR
SRHWD´PDULFyQHVXQDSDODEUDTXHLQYHQWyPLSDGUHSDUD
EXUODUWXYLGDµUHOLQFKDEDHQD\HV\GHOLFDGRVPRPHQWRV
EODQFRVGRQGHHOGXO]RUGHVXPXHFDDOFDQ]DEDLQVWDQWHVGH
EHDWLWXG/D,ULVVHGHWHQtDFRPRXQDOHFKX]DTXHSRVDGDHQ
HOEDOFyQGHODQRFKHDSUHWDEDVXSHFKR\VXYR]HUDRWUD/D
UHYLVWDQRFWXUQDVHWRUQDEDHQVHSHOLRGHPRQMDV
(QWRQFHVHOSRHPDHVXQDFDVFDGDGH.RDQV
/DVUD]RQHVSDUDHOHVStULWXVRQODVPLVPDVSDUDOD
FDUQH
(QWRQFHV\RGLIXQWR
3URQXQFLRODVPLVPDVSDODEUDV
&XDWURYHFHVFXDWUR
+D\DVDQDVLQFOXVR
3DUDROYLGDUDORVGLRVHV
0LFRORUSDUDORVFLHJRVHVHOQHJUR
1RUHFXHUGRVXOHQJXD
3HURVXYHUERDJRELDED
/RVSLODUHVGHODQWHULRUULWR
(VWHSHVDU
1RGHMDDPDUDOTXHPHDPD
/DQLHYHPDWDJRORQGULQDV
<\RQRSXHGRKDFHUQDGD
44
Antonio Silva
/DQRFKHHVXQDMDXOD\ODGHVQXGDSOD]DXQDLQLFLiWLFD
FKR]DDWHVWDGDGH/ORLFDV-XDQDRÀFLDGH6LELODFRQVtODEDV
HQJXDQWDGDVGHEODQFR\WHUURU
$ODPDQHFHU-XDQD,ULVHV-RQDWKDQ5LTXHOPH0HOHQDR
45
Matria
>SULPHUHVFiQGDORIHEULO(OOD
DVLVWHDODQtYHDHLQTXLHWDQWHSD]
GHXQPRQLWRU@
'HFyPROOHJXpDRtU(QODVtHVLQYHUWLGDV
GHOFRUD]yQ$DTXHORSKDQLPQRFWXUQR\
FDOOHMHUR'HFyPRYLURGDUVXSHTXHxDERFD
%DMRODOOXYLD²TXHKLHUH\SXULÀFD²
'HFyPRWLHPEODHOKXHVDOGHORVGtDV7XV
GtDVTXHVRQWUHVRUTXtGHDVHQHORMRGH
XQSiMDUR'HFyPRWXFDEH]DVHVHSDUy
WRWDOPHQWHGHODVFRVDV<VRODSDUWLyHQ
EXVFDGHXQDSDWULD'HFyPRWUHSDVWHDO
QRFWXUQRGHORViUEROHV<HQKRMDOVLOHQFLR
DVHVLQDVWHDXQMRYHQYHUDQR'HFyPR
WXYHVWLGRVHHQUHGy(QORVVyWDQRVGH
ODQRFKH<WXYR]IXHXQUHFXHUGR(QOD
PRUWHFLQDOX]GHXQFXDUWR
46
Antonio Silva
PLHQWUDVFRQWHPSODVXQD
HVWDPSLWDGHOD9LUJHQGHO&DUPHQ
FLUFXQGDGDGHQHRQHVHVWDODFWLWD
HOPHWDIRUyQGHXQDPXHFDVHSXOWD
EDUDWLMDVHQMR\DGDVGHPLVHULDV
(QWXMDUGtQXQDURVD
6REUHODURVDXQDDEHMDFDQFLRQLO
6REUHODDEHMDXQGLDPDQWHGHVRO
(QHOGLDPDQWHHOPRÁHWXGRGHGR
GHXQTXHUXEtQ
(QHOTXHUXEtQHOÁRUDOSHODMHGHXQFRUD]yQ
(QHOFRUD]yQXQDPXMHUDWUDSDGD
HQPXHFDUHOLFDULDO
(QODPXMHUXQDVRQULVDTXHSUHWH[WDODSD]\
HQVXSD]XQSDLVDMH
(QHOSDLVDMHXQDDQWLJXDHGDG
(QODHGDGXQDFDVDJULV
(QODFDVDXQDOPLGRQDGRFXDUWRGHKXPR\P~VLFD
(QHOFXDUWRW~DWUDYHVDQGRXQYHQWDQDO
(QODWUDQVSDUHQFLDWXVRPEUD
(QWXVRPEUDFRPLHQ]DXQMDUGtQWXMDUGtQ
(QWXMDUGtQXQDURVD
6REUHODURVDWXRMRTXHKX\HHQODDEHMDWUDJDGD
3RUXQFROLEUt
(QHOFROLEUtODPDxDQDHOSOXPDMH
HQODPDxDQDWXFXHUSRHQWXPHFLGR
SRUDOJR
47
Matria
HQXQFLUFRGHREUHUDIDPDODWtVLFD
VHEDxDEDHQJiUJDUDVGH
DPRU²VDODJXDDUGLHQWH\XQDV
JRWDVGHFRFDFRODTXHHQVyQLFR
JRUMHRGDEDDVXVROHGDGOD
LPSURQWDGHXQFDOHQGDULR
WULFRORU²
(OURFHDODURVD
<ORFDODURVDVHGHVKRMD
6XDFXDUHODHQHOHVSHMR
/DSHGUHUtDSOXPDMHHQRORURVROHQJXDMH
+LOYDQDGHYRFHFLOODVHOPDUFRGHVWHFXDGUR
8QVROELFpIDORDOXQtVRQR
8QFLHUYRGHVSLVWDGRHQXQROHDMHGHOXFHV
´VL\RHQFRQWUDUiXQDOPDFRPRODPtDµ
²GHVGHXQFDPHULQRLQWHULRU²
7RGDHOOD
GHODHVFHQDKDFHXQD-XDQDGH$UFR
6XVSHQGLGDHLQFRQWURODGD
²8QDFUX]HQFUXFH²
*XLOORWLQDGHXQODPHQWRTXH
2IUHFHGRVPLWDGHV\XQVDQWRSRUWDOHQWR
<YXHOYHDOPXVLTXHRGHORVUH]RV
²6DQ6HEDVWLiQ6DQ$QWRQLR6DQ-XGDV7DGHR²
ODUHFRQVWUXFFLyQTXL]iGHXQDRSHUHWD
48
Antonio Silva
2UR\HVPHUDOGD
8QDOLUDGHSOiVWLFRSDUDHOGLYHUWLPHQWR
8QDRVFXUDSHUODHQJDUJDQWLOODV\
SDODEUDV
6XRGLR\VXP~VLFD
8QPLQXHWDWUHVYRFHVDWUHVLUDV
49
Matria
HOLQFDQGHVFHQWHDSDUHFHUGHXQDEHDWD
-XDQD,ULV
2WUDODPHUiHOSROHQGHWXVODELRV
$TXHOPDULSRVHRGHSDODEUDV
/DVQHJUDV\ODVHVFDUODWDV
2WUDOHHUiXQPDQWUDGHDPRU
HQHOIRVIRUHVFHQWHHQPXGHFHUGHWXERFD
/DFRVWUDHOVLJLORODGHFDSLWDFLyQHOYHQGDMH
/DEXUODHODOTXLWUiQXQDEDQGHULWD
(OSRVWL]RODSOHQLWXGHOWHUURU
0LQDWXUDOH]DWXQDWXUDOH]D
(ODQGDPLDMHODKXLGDHOGHVSRMR
7HSDUHFHVDDOJXLHQTXHYLPRULUDQRFKH
7DOYH]HUD\R,ULVHQXQDFROFKDGHVDQJUH
'LH]DxRVPHQRVXQDVROHULWDQHJUD
$JXMHWDVWDIHWiQHVSHMHDQWH\
XQDMLOJHURQDULVDDPRGRGHDXUD
7DOYH]
HUD\R
VXPHUJLGD
HQXQMDUGtQGHS~DV\HVSHUDQ]DV
2WUDFRQIHFFLRQDUiODEDQGHUD
4XHW~\\RKHPRVSLQWDGRHQODKHULGDGHODQRFKH
50
Antonio Silva
9LHQHVGHXQDFLXGDG
PiVDQWLJXDTXHHOFLHORDPHULFDQR
GHDTXHOODSDODEUDUHFXSHUDGDHQODVDQJUH
TXHQRHVPiVTXHXQGHVHRÁRUDO
XQDYXOJDULPLWDFLyQGHRUTXtGHDV\QRPHROYLGHV
D~QFXDQGRHVWX\RHOGRQGH3ROLGHFWHV
8QDOLHQWRGHJXLUQDOGDV\QDYDMDV
XQD+pFDWHHQHOPROLQRGHWXVODELRV
9LHQHVGHXQDFLXGDG
PiVDQWLJXDTXHHOFLHORDPHULFDQR
1tYHD\OLQJXDOFDHDTXHOODSDODEUD
WDQFRP~QSDUDRWURV
\TXHSDUDWLHVXQDMR\DDWUDSDGDHQODPXVLTXLOODGH
WXQRPEUH
VLHPSUHDMHQD
DXQEHVRTXHROYLGDV
HQODQHyQLFDYpUWHEUDGHXQiUERO
LUUHVLVWLEOHPHQWHVROR\EHOOR
9LHQHVGHXQDFLXGDG
GHDTXHOVROTXHWLxH
HOSRHPDGHWXFXHUSR
<VROR
GHFLGHV
TXHHODPRUHVXQDKHEUDGHDOFRKROHQODDYHQLGDGH
XQSXHEOR
51
Matria
'RV(VFULWXUDV
,
'HODFRVWLOODGHXQiQJHO
SXHGHVGHGXFLUHOtQÀPRWUD]RGHWXVODELRV
FRPRWDPELpQODSXOVLyQGHWXKtEULGRRMRVHxDODQGR
XQDGLUHFFLyQLQHIDEOHHQHOVDQWRVDWpQVDQWRGHXQ
EUHYHLFRQR
UXGLPHQWDULDPHQWHEHOOR\SXHULO
3iMDUDTXHDSDVRVGHKDGDFUHHYHQFHUHODELVPR
\TXHFRQOLJHURFDQWRGHVSHLQDHOVDOYDMHDOHWHRGH
XQDYHGHOSDUDtVR
XQDSOXPDGHpOHVXQDJXLUQDOGDHQWXFXHUSR
PDVWXGHVQXGH]HVODGHXQDSLHGUD
TXHVXHxDODPXHUWHHORUR\XQQLxR
,,
&ULVWDOLQRHVWDGRGHSRVHHUFDQFLRQHV\PDSDVHQHO
JODQGH
6XPHUJLGDHQHOSROOHUDOGHODKHUPDQDPDULFD
3tIDQR\DQRGLQRHOGLDEORTXHWHPLPD
&UX]DGRHLQYHUWLGRHQHOJRWHRGHWXPLHPEUR
$YHGHOSDUDtVRDPyFXDQWRTXLVRHQHVSHMRVDOLQR
HQHOUL]RUHVRQDQWHGHXQDPRU
0LWDGYDUyQPLWDGKHPEUD
'HVROODFDEH]DGHOXQDODVYpUWHEUDV
52
Antonio Silva
(QHVWHFXHUSRHQHOFXDO
ODYLGD\DDQRFKHFH
9LYR\R
5D~O*yPH]-DWWLQ
4XpYDVKDFHUFRQHVWDOHQJXDGLIXQWD
FRQHVWDGLDGHPDVRQRUDFRQHVWDFDEHOOHUDGHDPRU
TXHSHLQDHOGHVHR
FRQHVWHKDVPDOLQVLOHQR\SHULIpULFR
4XpYDVKDFHUDYHFLOODHVFDUODWDFRQDTXHOUHFDGRGHVRO
FRQODPHOLQGURVDPHORGtDVHSXOWDGDHQODEHOOD
DQVLHGDGGHXQDGROHVFHQWH
4XpYDVKDFHUEDUtWRQRLQFRORURFRQHOMXHJRGHWXV
YRFHVWXVYRFHVTXHDQLGDURQ
HQODJHRPHWUtDGHXQHQMDPEUH
£RKPXxHTXLWDGHKXHVRVGHFRUDGDGHDFDQWRV\
PDGUHVHOYDV
6DEHVODLPSRVLELOLGDGGHWXYLDMH$OJXLHQWH
VRUSUHQGHUi
EDMRXQIDUROEDMRWXSHLQH
6DEHVTXHXQDEtSHGDJRWDGHDPRUWHHVSHUDHQXQ
GHVLHUWR
6DEHVTXHORVWXOLSDQHVWHVRQUtHQHVWDQRFKH
6LQHPEDUJRWDPELpQVDEHVTXHDTXHOORHVXQO~GLFR
SDUORWHRHQODUDPD
PiVDOWD
GHODORFXUD
53
Matria
3DVVDUR
DYHSO~PEHD
HQHOSyUWLFRGHWXVSHVWDxDV
8QSiMDURVRQUtHHQWXYHQWDQD
VXDOHWHRHVXQDVHFXHQFLDGHOX]\iUERO
3iOLGDODPDxDQDFDH
HQODLULGLVFHQWHSLHOGHXQODJDUWR
8QYHUDQRRFXOWRGHWUiVGHXQVRO
/DFHUWH]DHVXQGLEXMRyVHR
WDQJLEOHVyOR
DOYDKRGHXQDVRPEUD
WDQJLEOHVyORDODE\HFWRSRHPDGH'LRV
&XDQGRXQSiMDURVRQUtHHQWXYHQWDQD
FDOODODPDxDQDFDOOD
54
XQEHVRSDUDSDSi
GLJDPRVTXHHUDQHVW~SLGDV\IHDVDOELQDV
\RMHURVDV²XQDV9HQXVGHOVLJOR9²7RGDV
HOODVODVQLxDVGHODPRGD(Q-XDQD,ULV
GHVSHUWDEDXQDSURWDJyQLFD\SDVDUHOD
IDQWDVtDPDVHQODWHPSRUHUDHOyVHRFUXMLGR
GHVXVSyPXORVGDEDDOSURJUDPDGH
YDULHGDGHVXQDO~GLFDFRPELQDFLyQGHUHDOLW\
VKRZ\GRFXPHQWDOVXGDFD
9HVWXDULR
HVWDKLJXHUDTXHGDFLUXHODV
&RQIHFFLRQDVXQYHVWXDULR
8QDPDQWDSDUDODQLxD
4XHDWUDYLHVDHOSURVWLEXODU
&RUD]yQHQEXVFDGHXQSDGUH
+LOYDQDVXQLGLRPDFDQWDWUL]GHORVUtRV\ODVDQJUH
&DQWDWUL]GHWRGDVODVSDODEUDVTXHWHPHQORVKRPEUHV
9HDSLQWDUODVRPEUDGHWXOHQJXDHQODRUIDQGDGGHO
PHGLRGtD
9HDRtUHOKLPQRTXHJRUMHDHQORVDUHWHVGHOYHUDQR
<WRPDFDGDULVDKHUEDOFRPRVLJQRGHXQIXWXURYLDMH
(VFULEHHOQRPEUHTXHWHGLRODSDWULD
$TXHOODYRFDOEDVWDUGD²SLHOORGRD\HV²
<EHOOD
GHFDSLWD
HOQRPEUHGHWX3DGUH
57
Matria
3DVLyQ\PXHUWHGHOQRYLFLRPiVDPDGRGH
QXHVWUDUHOLJLyQ
/DPRQMDFKLQDUHQGtDKRPHQDMHVHVGU~MXORVDXQSDVDGR
XQDSHTXHxDHGDGGHRURFRQVDJUDGRDXQGLiFRQRDXVHQWH
GHWRGDUHOLJLyQHQFDPELRHOPDUXFKRSDUHFtDVHUVyORXQD
VRPEUDHQHOWHDWURGH3HNtQXQDJDWDVLDPHVDGREOHPHQWH
PDODHQODRUWLJDUHLQDGHVXOHQJXD
58
Antonio Silva
ORHVFXFKyGHXQDPXMHUTXHQRGLVWLQJXtDFOLHQWHOD\
TXHFRPRXQDOLEpOXODQHJUDVHGDEDDOURERODLQWULJD
\FODURDOIHOODWLR8QDSXWtIXODÉWURSRVTXHGHKLORV
RUR\VHGDFRUWDUQRHVWLODEDPDVELHQVXVDVWUHUtD
>TXHGLEXMDEDHQJUDQSDUWHGHVXPHQWyQXQFDOtJUDPD
RVFXURLOXPLQDGRSRUVHOHQLWDSHUODHQHOSDEHOOyQGHVX
P~VLFDXQWUREDUFOXV@HUDXQTXLU~UJLFRDUJRWYHQDEORV
IUHVQRVFXHUQRV\GDUGRVTXHRSHUDEDHQIRWRPRQWDMHOD
ULGtFXODOtQHDGHODPRU$OJXQDYH]<RODQGD6XOWDQD
OHPLQWLy
1RUWH6XU
<RQRVpDTXHOHWHPHQODVDQJUH\ODQRFKH
VRSUDQRVGHWXÐSHUD
6LWX\RHVHOHVSHMR\ODFDUFDMDGD
TXHXUGHQORVPXFKDFKLWRV\
TXHDVRPDGRVFRPRMDJXDUHVQRQDWRV
RIUHFHQVXHVWUHOODSRUP~VLFD\PDQ]DQDV
<RQRVpTXpPXUPXUDQODKLHUED\ODVUDWDVTXH
OXFLHQWHVGHHQYLGLDURHQODSLHOGHXQDVRQiPEXOD
<RQRVpVLHVDPDULOORRURRDPDULOORKRMDO
HOPXFKDFKRTXHHQODXxDGHXQFKDUFRFDQWD
'HEHVHUODVDQJUH\ODQRFKH
0HUHWULFHVDVXVWDGDV
TXHYLRODQXQWD[L\ROYLGDQWXQRPEUH
²\RGLEXMRHOPDSDGH&KLOHHQODVROHGDGGHXQD
JDULWD²
<RQRVpDTXpOHWHPHQORVKRPEUHV
VLWXOHQJXDGHVDSDUHFHHQODHVJULPDOXQDU
GHXQDFDUUHWHUD
59
Matria
6tGHEHQVHUODVUDWDV\VXSUHVDJLRIpWLGR\PLVHUHUH
ODVTXHWRPDQGHPLERFDHOEUHYHEHVRGHXQDQRFKH
60
Antonio Silva
@&RUWRPHWUDMH>
0iVDOOiGHODQHFHVLGDGHOREMHWRGHOGHVHRHV
KXPDQDPHQWHHO´PLODJURµHVODYLGDVREHUDQDPiV
DOOiGHORQHFHVDULRTXHHOVXIULPLHQWRGHÀQH(VWH
HOHPHQWR´PLODJURVRµ´TXHQRVHQFDQWDµSXHGHVHU
VLPSOHPHQWHHOEULOORGHOVROTXHHQXQDPDxDQDGH
SULPDYHUDWUDQVÀJXUDXQDFDOOHPLVHUDEOHORTXH
LQFOXVRHQGXUHFLGRSRUODQHFHVLGDGHOPiVSREUH
H[SHULPHQWDDYHFHV
*HRUJHV%DWDLOOH
4XL]iHQDTXHOODFDQFLyQTXHGHWLHQHDODVDQJUH
2HQHOFRQIXVRVHQWLPHQWDOLVPRGHORVHQFXHQWURV
+DOOHVODOHQJXDTXHRFXOWDQ
ODVJXLUQDOGDVGHODQRFKH
$XQFXDQGRHQWXERFD
/DVSDODEUDVVHSDUHFHQDORVSiUSDGRV
<ORVSiUSDGRVDXQIHOLQRPXHUWRHQHOIROODMH
4XL]iHQHOFHORIiQLFRVHFUHWRGHORVDPDQWHV
(QODFDEHOOHUDHQHOROHDMH
0HOLQGUHKXPRVRSOXPDUGHD]RWHV
/HQWHMXHOD\FDULiWLGH
4XL]iHQHOHTXtYRFRGHVXVQRPEUHV
RHQHODUHWHGHYLGDHQORVRMRVGHODPXHUWH
KDOOHVHOGLDPDQWH\ODP~VLFD
3DUDXQMDUGtQTXHÁRUHFH
VyORGHQRFKH
@WUDVHOYHQH]RODQRFXOHEUyQHOOHFWRUGHEHUi
VRSRUWDUHOFDWyGLFRODJULPHRGH0DUtD-RUTXHUD0HOHQDR
WHPSRUHUD\EDWDFODQD>
61
Matria
XQH[WUDxRVXHxRUHODWDGRSRU-XDQD,ULVDXQ
JUXSRGHFROHFWLYHURVHQQDWUHQRFKH\GyFLO
VLODEHR(QWUDGDVXUGH6DQWLDJR
3RVWDO
3LHQVDVHQRWURFDPLQR
8QKRPEUHPHGLDQDPHQWHIHOL]
7DOYH]HQXQSXHEORFRQQRPEUHGHVDQWR
SUDGHUDUHEDxRVFXOWLYRV
8QDSHTXHxDSRVWDOFRQXQIRQGRGHVDEOHV
8QDEUHYHEHOOH]DPXHUWD
8QDPXMHUDWLHQGHWXVFDEHOORV
²XQPDUWLOORGHOX]HQODYHQWDQDTXHPLUR
FDGDPDxDQD
GHVSXpVGHWDQWRGHVSHUWDUGHVSXpVGHWDQWRV
GHVSHUWDUHV²
8QDUDOLPJRUMHR
3DUWHHQGRVWULJDOHV\ERVTXHV
*UDQGHVWUR]RVGHSDQ
3HTXHxRVWUR]RVGH
IHOLFLGDG
3LHQVDVHQRWURFDPLQR
7XDPDQWHXQFDUUXDMH
(QPDWLQDOVLOHQFLR
8QDEUHYHEHOOH]DPXHUWD
62
Antonio Silva
OXHJRGHXQDÀHVWDSHULIpULFDODOXQDTXHHQWUH
WHTXLODV\YRGNDVKDDGTXLULGRXQDPDUHD
QRWRULHGDGVHUPRQHDDVXVLQYLWDGRV
-XYHQWXG
7HGLMHURQÁRUHV\P~VLFD
WRGDODQRFKH
3HURHOODVyORWUDHIUiJLOHVULVDV
ODELRVGHPXFKDFKRVHQLQGHVFULSWLEOHVROHGDG
8QPRQyORJRDQJHOLFDOGLVHFWDHOEDUULR
ODYDQJXDUGLDGHODVFRVDVODH[WUDxDFRQÀDQ]D
HQHOHVStULWX
7XDPDQWHHQVDQJXtQHRHMHUFLFLR
GHFRUDHODVIDOWR
GHVGHDJXDVRVFXUDVKDVWDHOUtRGHODYLGD
(QODS~EOLFDVROHGDGGHXQDSOD]D
ORVPXUFLpODJRVDVHGLDQDXQDOORLFD
1RGHVSLHUWHVDODVRQiPEXOD
(OODDWUDSDDOGLDEOR\ORGHYXHOYHDODQRFKH
7HGLMHURQÁRUHV\P~VLFD
SHURVyOREHEHVXQIUtRWp
DXQFXDQGROOHYDVVRPEUHURGHVRO
\XQDMXYHQWXGMDPiVHQWUHJDGD
63
Matria
&RWLGLDQR
8QDVHUSLHQWH
8QDWUHQ]DGHVROODELDOXPEURVDHQODHVFDPD
8QDWHUUD]DHQ%DELORQLDXQMDUGtQEHOODPHQWH
GHVSUHFLDGRHQODEUXPDPDWLQDOGHODVFRVDV
/DGHVQXGH]GHXQPXFKDFKRHQXQYLOORUULR
HVSHMHDQWH
(OGtDHVXQDPXHUWHFRQVWDQWH
TXHUHVHFDORVWULXQIRVDQWHULRUHV
/DFHJXHUD\ORVQDUDQMRV
ODVFDOOHV\ODVSURPHVDV
+X\HDQWHVGHTXHWXDXUDVHDREMHWRGHDQWURSRORJtD
EDUDWD
XQDPtQLPDFROHFFLyQGHVRQLGRVXQ
FDOLGRVFRSLRSDUODQWH
8QDVHUSLHQWH
SHUODHQVRUWLMDGDHQHORUHRGHWXVODELRV
HQHOSOXPDMHGHODVSDODEUDV
64
Antonio Silva
$FFLGHQWDOLGDG
8QGpELOSDVHRSRUORVPROLQRVGHODFLXGDG
XQDVHxDOGHYLGD
8QPXFKDFKRGHD]XOGLYRUFLDHOFDQWRGHOVRQLGR
\VXFDEHOOHUDHVXQDSROLOOD
XQGLDPDQWHDWUDSDGRHQHOPXHEOHGHODV
RVDPHQWDV
<GHORS~EOLFRDORSULYDGR
QRKD\PiVTXHXQJHQWLOMRYHQ]XHORTXHWHOOHYD
DFXDUWRVGRQGHHODURPDQRHVHOGHODVURVDV
VLQRODDFFLGHQWDOLGDGGHXQDKHULGD
8QDFLXGDGKXQGHWXOHQJXDHQODYHUGHViEDQDGHOD
QRFKH
8QDDYHQLGDGHSHUFDOHV\JXLQGDVHVOR~QLFRWHUUHVWUH
<WHDEDQGRQDVDOGHVWLQRGHXQDPDQR
DODYR]GHXQFDEDOORVRUGR
DODYR]GHXQFDGiYHU
URGHDGRGHLQ~WLOHVSDODEUDV
65
Matria
8QD3DWULD
7RGDEDQGHUDHVXQUtRGHVDQJUH
6WHOOD'tD]9DUtQ
'HODPDQRGHXQSRHWD
MXQWRDODVDYHVGHODQRFKH
KDFLDHOTXHMXPEURVRDPDQHFHUGHXQDODJDUWLMD
KDFLDHOGLHVWUR\PDQFRGHXQFRUD]yQ
HOOXPLQRVR6DQWLDJRVXFRMHUDVXP~VLFD
XQDGURJDHVSLULWXDOLQGHFRURVD
8QOXQDUSDVHRHQODQRFKH]DODPHUD
'HWXYLDMH\HOPtRDPRUPtRVRPEUD\SOXPD
'HMDVFDHUXQDOLHQGUHGHSODWD
,QVWDODVWXGHGRHQXQDQXEHGHPRVFDV
GRQGHODVDODVVRQSXHUWDV\YHQWDQDV
7~\PLJXDLSHFRVPHWyORJDGHXQDGHUURWD
HQHVWDSUHWHQVLyQGHYLDMH
+XPHGHFHHOIXWXURHQODERFDGHXQPXFKDFKR
\QRWRTXHVDOTXHFDQWD
(UHVXQDUXLQDGHDURPDV\DPRUHVHQHOLQFHQGLDGR
SDVLOORGHXQDSDWULD
8QDLQGLDYLROHQWDGDSRUXQDFLXGDGGHEDOFRQHV\
DODPHGDV
3RUODVXxDVGH6DQWLDJR3RUORVPXVORVGH(VSDxD
3RUHOJODQGHGH6DQWLDJR3RUHORPEOLJRGH(VSDxD
3RUODVFDGHUDVODVDUWHULDVHOKtJDGR
<ODEURQTXLDOGHXQUHODWR
SLVWD\GRUVDO
66
Antonio Silva
'yQGHHVWiWXFDVD
'yQGHHVWiQWXVSiMDURVGHSROHQ
'yQGHHVWiWXIRWRWDOYH]HQDTXHOODYLWULQDSLQWDGD
HQODRUIDQGDGGHXQDFDOOH
6XELUSRUODGRUVDO
%DMDUSRUODKLSyÀVLV
SHULIHULDGHWXFDQWR
67
Matria
([LOLR
XQDFDQFLyQPHQRUTXHDOJXQDYH]WtPLGDPHQWH
EDOEXFHRHQHODQLYHUVDULRGHXQFROHJLRGH
PDFKLWRVHQXQSXHEORPLVHUDEOH
&RQWHPRUKDVOOHJDGRDRtUHOSDVRGHORVWUHQHV
6DQ%HUQDUGRPLRGLRPLDQWLJXDSDWULD
QXQFDVDOtGHWXKRUURU
8QKRPEUHDJLWDXQSDxXHOR
\FUHHHVSDQWDUDODPXHUWD
TXHUtHGHWUiVGHODVRUWLJDV
HOPLVPRTXHXQDYH]FDQWy
HQODWXUEDGHORVHYDQJpOLFRV
HQHOWUHQGHODVGLH]QRYLHQH'LRV
&RQWHPRUDEDQGRQDVHVWHSXHEOR
$OJXLHQGLFH´VHYDORFDµ
8QDWRUPHQWDGHULVDVGLOX\HXQEHVR
\DJXGL]DXQDWULVWH]D
TXHQXQFDVDEHVGHGyQGHYLHQH
WXWUHQ
68
VLPXODQGRDSUHQGtDVHUYHUGDGHUR
(VFULWDVHQGRVVHUYLOOHWDV\DQWHODSDFDOPLUDGD
GHORVVXEDOWHUQRV²VLQFRPSUHQGHUQDGD²OD
PHQVDMHUtDGHOD,ULVEURWyFRPRXQDJRWDPiV
GHVDQJUHÔQLFRVGRFXPHQWRV²FXDOWHVRURV²
KDOODGRVHQFDOLSVDFDUWHUD
/DSUHFLRVDFDMDFRQWHQtDLQHVWLPDEOHVSDSHOHVDVtFRPRWUHVKRMLWDV
GHQRWDVPDQXVFULWDV7RGRVHVWRVYHQHUDEOHVGRFXPHQWRVHUDQ
H[WUHPDGDPHQWHIUiJLOHVSXHVODDQWLJHGDGORVKDEtDUHVHFDGR\KHFKR
TXHEUDGL]RV(OKHUPDQR)UDQFLVVHSXVRDGHVFLIUDUORVOHQWDPHQWH
UHFRQRFLHQGRODVSDODEUDVSHURVLQDFDEDUGHFRPSUHQGHUVXVLJQLÀFDGR
(QXQDGHODVKRMLWDVSRGtDOHHUVHOLEUDGHVDOFKLFKDVODWDFKRXURWH
SDUD(PPD/DVHJXQGDKRMDGHFtDSHQVDUHQUHFRJHULPSUHVR
SDUDGHFODUDFLyQGHLPSXHVWRV/DWHUFHUDHQÀQVyORFRQWHQtDFLIUDV
\XQDODUJDVXPD\GHVSXpVXQQ~PHURTXHHYLGHQWHPHQWHUHSUHVHQWDED
XQSRUFHQWDMHVXVWUDLGRGHOWRWDODQWHULRU\VHJXLGRGHODSDODEUD´XIIµ
,QFDSD]GHFRPSUHQGHUXQDSDODEUDGHWDOHVGRFXPHQWRVHOPRQMHVH
OLPLWyDFRPSUREDUORVFiOFXORV\ORVHQFRQWUyH[DFWRV
:DOWHU00LOOHU&iQWLFRD6DQ/HLERZLW]
(OSHFDGRFRQVLVWHHQPLRSLQLyQHQODYROXQWDGGHSHQHWUDUGHPDQHUD
SURKLELGDHQRWUDHVIHUDPiVDOWD(VWRH[SOLFDTXHVHDWDQUDUR(Q
UHDOLGDGSRFRVKRPEUHVGHVHDQSHQHWUDUHQRWUDVHVIHUDVVHDQDOWDV
REDMDV\GHPDQHUDDXWRUL]DGDRSURKLELGD+D\SRFRVVDQWRV<ORV
SHFDGRUHVVRQWRGDYtDPiVUDURV<ORVKRPEUHVGHJHQLRTXHDYHFHV
SDUWLFLSDQGHDTXHOODVGRVWDPELpQHVFDVHDQPXFKR3HURSXHGHVHUPiV
GLItFLOFRQYHUWLUVHHQXQJUDQSHFDGRUTXHHQXQJUDQVDQWR
$UWKXU0DFKHQ(O*UDQ'LRV3DQ
/DYLGDVXEMHWLYD
&XDQGRHUDVXQKRPEUH
ODVPDQ]DQDVHUDQDPDGDVSRUODVDQJUH
<HOSiMDURDOHWHRGHODYLGD
WHQtDHOFRORUTXHRWRUJDQORVVDQWRVDODVFRVDV
7XFRUD]yQPXWDED
5HFXUUtDODKHFKLFHUtD
DORVÁXLGRVFRUSRUDOHV
$SUHQGtDH\DFXODUKDFLDDGHQWUR
OOHYRODPXHUWHFROJDQGRGHPLVXxDV
UXELRFiQFHUHQSODWLQDGRHVFRUSLR
&XDQGRHUDVXQKRPEUH
HOVROHUDXQSXQWRDPDULOOR
XQDDPSROOHWDGHIRQGD
HQWXVFyUQHDVGHYLGULR
<ODOXQDXQGLVIUD]PHQRU
SDUDFDQWDUOHDKXpUIDQRV\VHUDÀWXV
8QDWDUGHPHHQFRQWUp
FRQODYLGD
<OHDUUDQTXpVXVDURVGHFDPSHVLQDFKLQD
'LVHxpXQRVRMRVSDUDFRQWHPSODU
ODQXHYDYLKGD
&XDQGR\RHUDXQKRPEUH
7HQtDXQSDGUH\XQDPDGUH
2UD\RVR\PLPDGUH
<PLSDGUHXQDIRWRVLQERFD
FODYDGDHQHOSHFKRGH&ULVWR
73
Matria
/RPXWDQWH
0iVFDOYDHQVXPDGUHGLVSRQHFXDOTXLHU
HVWUHOODPHQRUDQWHVDODGHXQPXWDQWHHQOD
SOD]DGHORVDFDQWLODGRVIUDQTXHD\URPSH
FROODUGHSDODEUDVODVQXHVWUDVHQGHOHLWH(O
PiVPtQLPRWHUURUHQFDEHOOHUDSODWLQDGD
HQGHVDVWUH7RPDHODJXMHURHQGRQGHSRU
PLQXFLDVMXHJDDHQIHUPHUDHQWURSHOORV
GHODQWDOHV\DORGLMR8GHOODHVPDOYDGD
FRPRP~VLFDHQIXFVLRDQRQLPDWRRSHUiWLFD
GHD\HVUHYLHQWDHOVLJQRKLSpUWHOLFDHQVX
XOWUDMH0iVTXHODVSDODEUDVHVFULWDVWRGDV
HQODEDOGtD]RQDGHODVLGHQWLGDGHV0iV
TXHVXWHOHVHULHQHJUDPRUHQDWUDQVOXFLGD
HOHQFDMHGHODVYRFDOHV(OOD\HOPXWDQWHHQ
VRSOLGRVKLHUHQODSD]KHFKDVDQJUHHQWRGR
DOWLSODQRVXQRPEUH0LVV$QGHV8GGLEXMD
ODJHRPHWUtDGHXQSHQHHQHODJXMHULWRGH
XQiQJHOVHOODPDEDODYtFWLPDHQPDOLQFKHV
PLUDGDV0iVDFiHQHOFXDUWRGHVXHVFULWXUD
HOPXWDQWHWUD]D\FKLOODXQO~GLFRWHMLGRHQOD
OHQJXDJODQGHGHVXYXOYD<GHSXV\ULVDOD
EHOOD\HOPXWDQWHDKRUFDMDGDVGHVDSDUHFHQ
HQODKRMDTXHDQWHVIXHVRQDPEXODUGH
ERVTXHVRQDPEXODUSLHOGH6DPRWUDFLD
VRQDPEXODUFyUQHDHQYLWULQDORFDO
74
Antonio Silva
FXDWURYRFHVLQWHQFLRQDOPHQWHGHVQXGDV\
H[SXHVWDVHQHOIRVVDODULRGHODQRFKH
<RPHFRPSUpXQYHVWLGROLQGRSHUROLQGRFXDQGR
WHQtDFDWRUFHDxRVORRFXOWpSRUXQDxRFRPRWDPELpQ
\RDODxRVLJXLHQWHPLSDGUHPHH[LOLy3HURPLYHVWLGR
PLVSLQWXUDVGHVFR\DURQHQXQDTXLQWDGHUHFUHRHQ
%XLQ$KtFRQRFtODYLGDDQWHV\RHVWDEDPXHUWD
/D*DE\*DEULHO5LFDUGR
&XDQGRHVWXYHHQFDQDFRQRFtDO0DULRPLPDULGR
FUHRTXHHVRIXHKDFHQXHYHDxRVpOVDEtDTXH\RHUD
ODGURQD\PDUDFD0HVRVHJy$KRUDHVWR\MXQWDQGR
SODWDSDRSHUDUPH\YLYLUWUDQTXLODFRQHO0DULR/R
TXLHURWDQWR
'HQLVVH5DIDHO-LPpQH]
(OMXHYHVPDWDURQDOD0DULyQHQODSDQDPHULFDQD
8QFDPLRQHURMDODROHSXVRGRVWXQD]RVHQODFDUDHO
FXOLDRGLFHTXHOHTXHUtDQUREDUSHURHVWiFDJDR0L
SULPRHVSDFR\\R\DOHFRQWpWRGR$OIXQHUDOGHOD
0DULyQQRIXHQDGLHGHVXIDPLOLDOORUDPRVWRGDV(Q
HODWD~GOHGHMDPRVVXPiVEHOORRGLR4XL]iPDxDQD
VHD\R
/D0XxHFD/XLV9LGDO
$ORVGLH]DxRVPHDUUDQTXpGH7HPXFR\PLIDPLOLD
3DVDEDKDPEUH$FiHQ6DQWLDJRFRQRFtDOD*DE\
\OD-XDQD,ULVKHPRVSHOHDGRDPDGUHVSHURQRV
QHFHVLWDPRV
5DFKHO-RVp0HOHQDR
75
Matria
.RDQV
&DQWDUHQXQDPDxDQDFXDOTXLHUD
$ODEULJRGHXQPXFKDFKRSHQGHQFLHUR
-XDQDLULVHVWHOpSDWDFRVPHWyORJD
'HVXFXHUSRKL]RXQKRJDUSDUDODVYLGHQFLDV
<RSLQWpGHFRiJXORVORVRMRVGHPLSDGUH
'LRVWHVDOYH0DUtDGHUURWDGD
+DFtDVGHOSDLVDMHXQHVSHMXHORXQRUQDPHQWR
WHDWUDOSHURVLQWXYR]
(QODVDQJUHHVHJUDYHGXO]RUGHOD9,+'$
8108&+$&+2,1752'8-2680$12(10,
%2&$<'((//$$55(%$7Ð(/&$'É9(5'(
0,3$'5(
3tGHOHXQDFDQFLyQDORVJXLQGRV\WDOYH]VyORWDO
YH]\RVHDXQSRHPD
76
Antonio Silva
9HRDPLPDGUHVHQWDGDVREUHOD7WHGHODPXHUWH\
TXHDQHFGyWLFDPHQWHIRUPDXQDFUX]
6XV]DSDWLWRVGHQLxDKXHVDOGHVHDQWRFDUOD
(GHOHQFDQWRGHODPXHUWH
/DHQYLGLDGHOD5UHEDQDHQVXGREOHPXWLODFLyQXQ
WHUULWRULR
9HRDPLPDGUHKX\HQGRKDFLDOD8TXHHOODVXSRQH
PXGDHQDQDOIDEHWRYLDMH
6HQWDGDHQHOLOXVRULRFROXPSLRGHXQDPXGH]
<RODHVStRGHVGHOD0HPHGH0DWULD0LHGR
SDUDQRPDOGHFLU\GHFLUTXHOD0WDPELpQRFXOWDVX
PDGUH\VXPXHUWH
77
3RQHUDFXELHUWRWRGDVODVLPiJHQHVGHOOHQJXDMH\XWLOL]DUODVSXHVHVWiQ
HQHOGHVLHUWRDGRQGHKD\TXHLUDEXVFDUODV
-HDQ*HQHW
EUHYHDSDULFLyQHQXQHVWHODU
WHOHYLVLYRGHODPiVUDUDFRQIHVLyQGH
VXHOHFWUyQLFRVHFUHWR
$YHFHVTXLVLHUDVGHVSHUWDU
FUXHOPHQWH
0RULUHQVtPLVPRGHVSHUWDUHQRWUR
DYHFHVTXLVLHUDVOORUDUWDPELpQ
SRUDTXHOODSRVLELOLGDGGHKRPEUH
TXHWUDLFLRQDV
DFDGDLQVWDQWH
&RPRWDPELpQWUDLFLRQDV
DXQDKHPEUDGRUPLGD
FRQURVWURGHiVSLG
$YHFHVTXLVLHUDVGREODUHOGREOH
GHWXQRPEUH
\WRPDGRDODPDQRGHWXFRSLDVHU
XQIHOLQRHQODVFHMDVGHWXPDGUH
$YHFHVTXLVLHUDVGHVSHUWDU
FUXHOPHQWH
'HVSHUWDU
81
Matria
SHUSOHMRVLQJOHLQWHUSUHWDGRSRU´0DWULD
WKH)DVKLRQV4XHHUµEDQGDIDQWDVPDGH
DSDULFLyQ\PXHUWHIXJD]TXHDOJXQDYH]
FRQWyFRQ,ULVHQYLROHQWRUROYRFDO
1RWXYHSLHGDGGHVXVRVDPHQWDV
SDUDSRUHOODVXVDUORVFXHUYRV
REOLJDURQDODQRFKH
1RWXYHSLHGDGGHVXVURSDVRMRV
SDUDSRUHOODVXVDUHOUD\R
DOLPHQWyHOLQFHQGLRGHODVDQJUH
1RWXYHSLHGDGGHVXOHJXD
SDUDSRUHOODVXVDUODVKLHQDV
FDOLSVDURQHOGHVDVWUH
82
Antonio Silva
SULPHUtVLPRSULPHUSODQR
HQODFRPLVXUDODELDO
%ORRG\PDU\GHVXPHQVWUXDFLyQ
&DIp(XURSD
&RPRVLVXFXHUSRIXHUDXQOXFHURGH&UDQDFK'HEXWy
HQORVMDUGLQHVFROJDQWHVGHOOXPSHQDMH7UD]DED
SDLVDMHVXQDFKLOHDQSRVWDO¢DOR9DOHQ]XHOD/ODQRV
GLUiXG"
1RWDQVyORXQMRYHQGLRVODWLQRDPHULFDQR2TXL]iXQ
YLROHQWRNRXURVVXGDFD
6XDFWLWXGSRUODYLGDLEDPiVDOOiGHXQPDULDQR
GRORUPiVELHQGLUtD\RPLHVWLPDGRFRPHQVDO(UD
XQD.LULRWLVVDSHULIpULFD6XSHTXHxRSDQGHRUR
IXHGHYRUDGRHQODPHVDGHORVFUtPHQHV\VDQWRV
LQYHUWLGRV7HFRQWDUpKDEODEDGHDUWHWDQOLYLDQDPHQWH
&RPRGHWLQWHVSDUDHOFDEHOOR<VHJ~QHOODVXPDGUH
KDEtDVLGRHPSOHDGDHQFDVDGH-XDQ'RZQH\<TXH
HOOD\VXPXFKDFKRSUHUUDIDHOLVWDHUDQXQDHVSHFLH
GH'DYLG%RZLHGHODSRHVtD(QPLRSLQLyQHVWRV
PLQHVVLQJHUXUEDQRVVHGXFtDQQRVyORHOEXOWRGHVXV
FOLHQWHVVLQRWDPELpQVXVDOPDV\EROVLOORV
1RFUHD8G4XHODHQYLGLRHVVyORODDSUHFLDFLyQGH
VXDPLJD\FRQÀGHQWH
0HGLVFXOSDXQPRPHQWRYHUpVLHQFXHQWURDOJR
3DUDHOHVStULWX¢TXpWDO&HVDU)UDQN"
83
Matria
(OHQXQFLDGR
9iQLGDWURQFKDHQWURSHOHVYLRODQWHV
3DMDULOORHVWHUWRUHQVDHWDQRFWiPEXOD
&ORUDGDGHHVFRUSLRVPDTXLOODGHVHG
/DHVFULWXUDGHODPDGUH
'LDOFDOLSVRHQYHQWDQLOODPRULEXQGD
6RUWHDGDGHUHQFRUHV
$PDUUD\VLOHQFLDHOHFWUyQLFDRUWRSHGLD
1LHYHGLRV
9HORVDDERUWDODHPEDUD]DGD
,GHODSUHJXQWD
¢¢¢¢¢¢¢¢¢¢¢¢¢¢¢¢¢¢¢¢¢¢
\QRWHPDVDODVSDODEUDV
SXHVHOODVVyORHVWiQGHSDVR
VREUHWXOHQJXD
%DUUyQLFDODIHVWDHQOD2
'DQDGH$ULHVGRPHxRGH9LUJR
3UHFLSLWDODIDXQDQLxD
0D]DWOiQODLQGLHFLWD\VXGRPLQJR
*ULOODODFULQDGHYLRODV
(QSiSXGRWiQDFLRGH8
¢8GGRPLQDODDQGURJLQLD"
,DREDQFODUDSHUSLDIXORMDFWDULQR
9LVD\YHJDIHQHFLOORMRSDO
)LROHFLHQWH1XJHUWURPSH
'HOD,RFXOWDBBBBBBBBBB
84
Antonio Silva
'DUDyFXODVDUQHPLQMXIHWR
7URSD\WUXIIDORQJR,DR
0LQWURVRIHFLHVHODSXxDUDGtR
'HDOIDFLDOXHQQHDSUpV
/HYDUODFXLWDTXHREOLGp
2UDFRQWH]FDOD]HULRHQDOERUÀQDU
\QRWHPDVDODVSDODEUDV
SXHVHOODVVyORHVWiQGHSDVR
VREUHWXOHQJXD
85
Matria
$SpQGLFHDYLVRVSXEOLFLWDULRV
2WURVSHTXHxRVPDWHULDOHVVRQRURV\HQFDWDWRULRVKDOODGRVHQ
XQFRIUHFDUPHVt(OOHFWRUSRGUiH[DPLQDU\YLROHQWDUFDGDYRFDO
PDVVLQRFRPSUHQGHSDUWHDOJXQDVHOHUHFRPLHQGDPDQWHQHUVHD
GLVWDQFLDSRUVXLQWHJULGDGItVLFD\HVSLULWXDO
8QRGHORVQRPEUHVGHODSLHGUDÀORVRIDOHV
5HELV´HOVHUGREOHµOLWHUDOPHQWHODVGRVFRVDV
0DLWKXQD 'HWHQFLyQHLQPRYLOL]DFLyQGHODVWUHV
SULQFLSDOHVIXQFLRQHVGHXQVHUKXPDQRUHVSLUDFLyQ
HPLVLyQVHPLQDO\HOSHQVDPLHQWR
'yQGHHVWiQYXHVWURVVHFUHWRVYXHVWUDVSDODEUDV
$QyQLPR
(OKRPEUHGHOIXWXURVHUi$QGUyJLQR
$SyFULIRGH-XDQD,ULV
,Gi\SLQJDOiBBBBBBBBBBBBBBBBBBB(OVRO\ODOXQD
(OKRPEUHEXHQRVHUiMX]JDGRFRPRXQFULPLQDO
¢4XpSUHWHQGHVGHFLURK7ULPHJLVWRTXH'LRVSRVHHORV
GRVVH[RV"6t$VFOHSLR<QRVyOR'LRVVLQRWRGRVORVVHUHV
DQLPDGRV\YHJHWDOHV
&RUSXV+HUPHWLFXP
86
Antonio Silva
$OUHVXFLWDUQRHUDQLYDUyQQLKHPEUDDXQTXHQDFLy\
PXULyFRPRYDUyQ
$QyQLPR
<R-XDQD,ULVGHDUFRFLHOR<R$QGURJ\QXV
+LSHUWHOLFXV
7UHVPRPHQWRVURPiQWLFRV
0HGLWHHQORVLJXLHQWH
&RLQFLGHQFLD2SSRVLWRUXP
$QLPD&DUQLV&RQWUD1DWXUDP
/RÁDPtJHURHQHO)XHJR\HQOD6DQJUH
%DVWDQFLHUWDVGLVSRVLFLRQHVJHRPpWULFDVGH
PDWHULDOHVH[WUHPDGDPHQWHSXURVSDUDGHVHQFDGHQDU
ODVIXHU]DVDWyPLFDVVLQQHFHVLGDGGHODHOHFWULFLGDGR
ODWpFQLFDGHOYDFtR
0DWDDWX3DGUH\PDOGLFHDWX0DGUHWRPDORTXH
UHVWDGHWXFRUD]yQ\VtJXHPH
$SyFULIRGH-XDQD,ULV
DYHFHVYR\GRQGHUHLQDHOPDO
HVPLOXJDUOOHJRVLQGLVIUD]
)0RXUD
87
Matria
/RVHVWDWXWRVGHPL2UGHQPHSURKtEHQUHYHODUORV
VHFUHWRVGHODPXWDFLyQDORVVHUHVVLPSOHV\YXOJDUHV
DORVKHWHURVH[XDOHV
$SyFULIRGH-XDQD,ULV
$KRUDTXHHOWLHPSRVHKDPXHUWR
GHVHDUtDGHFLUDORVSUy[LPRVTXHYLHQHQ
TXHHQHVWDFDVDPLVHUDEOH
1XQFDKXERUXWDQLVHxDODOJXQD
\GHHVWDYLGDDOÀQKHSHUGLGRWRGDHVSHUDQ]D
-/0
1RWD6LHOOHFWRUVHRIXVFDHQHOWUiQVLWRGHHVWRVPDWHULDOHV
VHOHUHFRPLHQGDUHSHWLUHOVLJXLHQWH.RDQ´VLWRGR
VHUHGXFHDODXQLGDGDTXpVHUHGXFHODXQLGDGµQR
REWHQGUiVDELGXUtDSHURVXPDQWUDOL]DFLyQOHRWRUJDUiXQ
LOXVRULRHVWDGRGHELHQHVWDU\ORFXUD6LVHGHVYDQHFHVH
OHUHFRPLHQGDWRPDUXQEDxRGHVDOTXHPDUVXVOLEURV\
GRUPLUWUHVGtDVFRQVXVUHVSHFWLYDVQRFKHV$OFXDUWRGtD
8GVHUiXQDÁRUPDTXLOODGDHQRUR
(VWDQRWDVHHQFRQWUDEDHQXQVREUHPDJHQWDTXHYHUVDED
´PLVFRVDVµMXQWRDORVGRFXPHQWRV\DFLWDGRV
88
/$0$'5('(0,3$'5(
6(//Ð'(6$/
/262-26'(0,1$785$/
0(17(
0$'5(
Ì1',&(
0DWULD
=DSDWRVGHFDPSHVLQD
&XDUWRVGH(VFULWXUDSDUDXQDFRQVWLWXFLyQGHJXLyQ
>0LQXHWRSDUDXQDLQGLDKXN@
>'HVDQJUHPLYHVWLGR@
3LH]D;9,GHXQ+RWHO
%XQJDORZ
7HPSRUHUD
3DUDXQPXFKDFKRSHULIpULFR
3UHWH[WR
%HDWLWXG
/DLQVLJQLÀFDQFLDGHOJHVWR
*UDQ$YHQLGD
)LQLWXG
/RV0DULFDV
/LQJXDO
>'HFyPROOHJXpDRtU(QODVtHVLQYHUWLGDV@
(QWXMDUGtQXQDURVD
>6XDFXDUHODHQHOHVSHMR@
-XDQD,ULV
9LHQHVGHXQDFLXGDG
'RV(VFULWXUDV
>4XpYDVDKDFHUFRQHVWDOHQJXDGLIXQWD@
3DVVDUR
9HVWXDULR
3DVLyQ\PXHUWHGHOQRYLFLRPiVDPDGR
GHQXHVWUDUHOLJLyQ
1RUWH6XU
@&RUWRPHWUDMH>
3RVWDO
-XYHQWXG
&RWLGLDQR
$FFLGHQWDOLGDG
91
8QD3DWULD
([LOLR
/DYLGDVXEMHWLYD
/R0XWDQWH
>FXDWURYRFHVLQWHQFLRQDOPHQWHGHVQXGDV@
.RDQV
>9HRDPLPDGUHVHQWDGDVREUHOD7@
>$YHFHVTXLVLHUDVGHVSHUWDU@
>1RWXYHSLHGDGGHVXVRVDPHQWDV@
>&RPRVLVXFXHUSRIXHUDXQOXFHURGH&UDQDFK@
(OHQXQFLDGR
$SpQGLFHDYLVRVSXEOLFLWDULRV
>/$0$'5('(0,3$'5(@
92