M 117
(VFUHYHPRV Q¾R K¼ PXLWR WHPSR QHVWDV S¼JLQDV p2 PRPHQWR SROÈWLFR H HFRQÎPLFR GR SDÈV HVW¼ ORQJH GH VHU R PDLV SURSÈFLR D XPD UHƮH [¾R SURIXQGD VREUH DV HVWUDWÄJLDV D DGRWDU SDUD TXH VHMD SRVVÈYHO VDLUPRV GR PDUDVPR HP TXH QRV HQFRQWUDPRV FRP XPD HFRQRPLD HVWDJQDGD H FRP RV SUREOHPDV VRFLDLV D DJXGL]DUHP 0DV WDO Q¾R DFRQWHFH SRUTXH QHP VHPSUH V¾R RV PDLV FRPSHWHQWHV TXH QRV JRYHUQDP H TXH PXLWDV YH]HV WÅP UHVSRQVDELOLGDGHV QDOJXPDV GDV PDLV LPSRUWDQWHV HPSUHVDV QDFLRQDLV 4XDQGR DV W¼WLFDV SROÈWLFDV GH FXUWR SUD]R SDUD Q¾R GL]HU FHUWRV LQWHUHVVHV SDUWLFXODUHV VH VREUHSÐHP DR LQWHUHVVH QDFLRQDO Ä HYLGHQWH TXH WRGRV QÎV VRIUHPRV DV FRQVHTXÅQFLDV $ 0DQXWHQ¾R FRPR DWLYLGDGH HVVHQFLDO GH VXSRUWH DR WHFLGR HFRQÎPLFR SURGXWLYR
EDITORIAL
Q¾R HVW¼ LPXQH D WXGR LVWR 6¾R PXLWDV DV GHFLVÐHV WRPDGDV VREUH DTXLVLÂÐHV GH HTXL SDPHQWRV VHP DSRLR GH XPD HVWUDWÄJLD GH IXQGR SHQVDGD H DOLFHUÂDGD QXPD DQ¼OLVH FLHQWÈƬFD H WÄFQLFD DSHQDV EDVHDGDV HP GHFLVÐHV PDLV GH FDUL] SROÈWLFR RX RXWURV VHP TXDOTXHU LQWHUHVVH SDUD R SDÈV 6DEHPRV RV UHƮH[RV TXH HVVDV GHFLVÐHV WÅP SDUD D DWL YLGDGH GD PDQXWHQ¾R H SDUD DV TXDLV Q¾R K¼ VROXÂÐHV SRU PDLV HODERUDGDV TXH VHMDP TXH FRQVLJDP UHVROYHU 2V FXVWRV GH FLFOR GH YLGD DXPHQWDP GH IRUPD LQFRQWURODGD D
2
GHVFUHQÂD QRV GHFLVRUHV Ä FDGD YH] PDLRU q /XÈV $QGUDGH )HUUHLUD
1HVVD DOWXUD YLYLD R SDÈV XP FLFOR SROÈWLFR DLQGD LQGHSHQGHQWH GH WHUFHLURV SHOR PHQRV WHRULFDPHQWH 3DVVDGRV GRLV DQRV RV SUREOHPDV V¾R RV PHVPRV FRP D DJUDYDQWH GH VH WHUHP DJXGL]DGR DJRUD TXH HVWDPRV VREUH WXWHOD HVWUDQJHLUD GHVWD YH] SRU FXOSD SUÎSULD Q¾R IRPRV LQYDGLGRV GHL[¼PRV TXH QRV LQYDGLVVHP &RPHÂDP D YHULƬFDU VH VLQDLV LQTXLHWDQWHV GH GHJUDGD¾R GDV LQIUDHVWUXWXUDV SÕ EOLFDV M¼ TXH RV FRUWHV DQXQFLDGRV QD GHVSHVD QRWRULDPHQWH QD UHGH YL¼ULD QRU PDOPHQWH V¾R SUHFLVDPHQWH QD VXD PDQXWHQ¾R ,UHPRV SDJDU D IDWXUD PDLV WDUGH FRP RV MXURV PXLWR HOHYDGRV KDELWXDLV H PXLWDV YH]HV VHU¼ XP FDPLQKR VHP UHWRU QR LVWR Ä D GHJUDGD¾R VHU¼ LUUHYHUVÈYHO 3RU RXWUR DSRVWD VH HQWHQGD VH D GLWD pWURLNDq QD P¾R GH REUD EDUDWD HP 3RU WXJDO WUDQVIRUPDQGR R SDÈV QR VHQWLGR PDLV QHJDWLYR SRVVÈYHO FRP D SHUGD GD FRHV¾R VRFLDO TXH WDO DFDUUHWD 7HUHPRV TXH ROKDU SDUD RXWURV KRUL]RQWHV SURFXUDQGR RXWURV FDPLQKRV 3RU LVVR R SUÎ[LPR &RQJUHVVR D VHU RUJDQL]DGR SHOD $30, ,EHUR DPHULFDQR H GD /XVRIR QLD SRGH VHUYLU GH DODYDQFD SDUD RXWURV UXPRV H RXWUDV RSRUWXQLGDGHV +¼ TXH DSURYHLW¼ ODV $ $30, WXGR IDU¼ SDUD TXH WDO DFRQWHÂD M
'LUHWRU