serie NOVA TERRA nº 50

PLFURVFySLFD /D FULVWDOL]DFLyQ GH ORV QXHYRV PLQHUDOHV PHWDPyUILFRV VREUH WRGR DQGDOXFLWD \ VX YDULHGDG TXLDVWROLWD UHVXOWDURQ HQ XQ DXPHQWR HQ HO WDPDxR GH JUDQR JUDQXODFLyQ GH ODV 3L]DUUDV GH /XDUFD IRUPDQGR SL]DUUDV HQ JDYLOODV \ SL]DUUDV QRGXORVDV 3HWURJUDItD *HRTXtPLFD \ 7HFWyQLFD GHO JUDQLWR ,QWURGXFFLyQ WUDEDMRV SUHYLRV (O 3OXWyQ GH %RDO TXH FXEUH OD PD\RU SDUWH GHO PDSD JHROyJLFR RFXSD XQD iUHD DSUR[LPDGD GH NP &RQ XQD IRUPD DODUJDGD HQ GLUHFFLyQ 11: 66( VX SDUWH VHSWHQWULRQDO HV PiV DQFKD TXH VX SDUWH PHULGLRQDO $ XQRV NP DO 6: GH %RDO DIORUD XQ FXHUSR JUDQtWLFR SHTXHxR SUREDEOHPHQWH XQD DSyILVLV GHO SOXWyQ SULQFLSDO TXH LQWUX\y LJXDOPHQWH D ODV 3L]DUUDV GH /XDUFD (VWH DIORUDPLHQWR JUDQtWLFR HVWi VLWXDGR D P DO 6( GH OD DOGHD (O 3DWR TXH GD QRPEUH DO SOXWyQ SHTXHxR TXH RFXSD HQ OD VXSHUILFLH VyOR XQRV NP )LJ \ 3DUD XELFDU VX VLWXDFLyQ JHRJUiILFD \ JHRWHFWyQLFD YpDVH OD )LJXUD GRQGH HVWiQ SUHVHQWDGRV WDPELpQ ORV RWURV DIORUDPLHQWRV JUDQtWLFRV HQ OD SDUWH RULHQWDO GH OD =$2/ HQ HO 'RPLQLR 1DYLD ± $OWR 6LO TXH VH YDQ D GLVFXWLU PiV DGHODQWH HQ HO &DStWXOR (O 3OXWyQ GH %RDO IXH FLWDGR SRU SULPHUD YH] SRU %$552,6 HQ VXV LQYHVWLJDFLRQHV VREUH ORV WHUUHQRV GH $VWXULDV \ *DOLFLD 6H GHVFULEH FRPR XQ JUDQLWR GH GRV PLFDV FRQ PLFURFOLQD \ PLFURSHUWLWD TXH LQWUX\y HQ HVWUDWRV FiPEULFRV eO LQGLFD LJXDOPHQWH HQ VX WUDEDMR OD H[LVWHQFLD GH ]RQDV PiV R PHQRV EiVLFDV 0$//$'$ GLVWLQJXH XQD YDULHGDG SRUItGLFD \ RWUD GH JUDQR ILQR \ FRLQFLGH HQ OD RSLQLyQ PiV WDUGH H[SUHVDGD SRU $'$52 -8148(5$ HQ VXV H[SOLFDFLRQHV GHO PDSD JHROyJLFR GH (VSDxD GH TXH HO SOXWyQ VH H[WLHQGH FRQ RWUDV DSyILVLV SHTXHxDV HQ GLUHFFLyQ 11( KDVWD HO 0DU &DQWiEULFR (VWRV DXWRUHV FRQVLJQDQ TXH HO JUDQLWR TXH VH DFRPRGy DO SOHJDPLHQWR GH ODV URFDV VHGLPHQWDULDV HV SRVWHULRU DO 6LO~ULFR +(51$1'(= 6$03(/$<2 VLW~D OD LQWUXVLyQ GHO SOXWyQ HQ HO 6LO~ULFR 'H 6,77(5 KDEOD GH XQD LQWUXVLyQ SRV VLO~ULFD FX\R PHWDPRUILVPR GH FRQWDFWR OH OODPD PXFKR OD DWHQFLyQ SRU OD JUDQ DEXQGDQFLD GH TXLDVWROLWD //23,6 //$'Ï IXH HO SULPHUR TXH VH RFXSy GHWHQLGDPHQWH GH OD SHWURJUDItD GHO JUDQLWR GH VX PLQHUDOL]DFLyQ \ GH OD OLWRORJtD GH ODV FXDUFLWDV \ SL]DUUDV RUGRYtFLFDV HQFDMDQWHV WHQLHQGR HQ FXHQWD OD LPSRUWDQFLD HFRQyPLFD GH OD PLQHUDOL]DFLyQ GH VFKHHOLWD HQ OD SDUWH VHSWHQWULRQDO GHO SOXWyQ UHIHULUVH DO &DStWXOR (Q OD LQWUXVLyQ ³JUDQRGLRUtWLFD SRVWHFWyQLFD´ pO GLVWLQJXH GRV IDFLHV SHUIHFWDPHQWH GHOLPLWDGDV VREUH HO WHUUHQR ³ OD IDFLHV IXQGDPHQWDO HVWi LQWHJUDGD SRU XQ JUDQLWR FDOFRDOFDOLQR GH WH[WXUD KRORFULVWDOLQD JUDQXGD KLSLGLRPyUILFD IRUPDGR SRU FXDU]R RUWRVD SODJLRFODVD \ ELRWLWD FRPR HOHPHQWRV HVHQFLDOHV /D PRVFRYLWD DSDWLWR FLUFyQ UXWLOR \ SUREDEOHPHQWH PDJQHWLWD DSDUHFHQ FRPR HOHPHQWRV DFFHVRULRV (VWD URFD DSDUHFH FDVL VLHPSUH IXHUWHPHQWH DOWHUDGD GDQGR SURGXFWRV VHFXQGDULRV FRPR FDROtQ FORULWD OHXFR[HQR OLPRQLWD VHULFLWD \ ]RLVLWD´ 34