Gestionando la Diversidad: un reto en los procesos de

Anuncio
*HVWLRQDQGROD'LYHUVLGDGXQUHWRHQORVSURFHVRVGH
5HFOXWDPLHQWR\6HOHFFLyQ
(VWHEDQ0RUHQR4XHVDGD
5HVXPHQ
(Q OD DFWXDOLGDG VH KDQ SUHVHQWDGR XQD VHULH GH FDPELRV D QLYHO VRFLDO \
WHFQROyJLFR TXH KDQ KHFKR TXH ODV HPSUHVDV H[SDQGDQ VXV IURQWHUDV \ KDQ
LQIOXLGR UDGLFDOPHQWH HQ OD PDQHUD GH KDFHU QHJRFLRV SRU OR TXH ODV
FRUSRUDFLRQHV VLQ LPSRUWDU VX WDPDxR \ VX HVSHFLDOLGDG KDQ WHQLGR TXH
UHDOL]DUFDPELRVVXVWDQFLDOHVSDUDPDQWHQHUVHYLJHQWHVVHUFRPSHWLWLYDVYHODU
SRU HO ELHQHVWDU GH VXV FRODERUDGRUHV \ VDWLVIDFHU ODV QHFHVLGDGHV GH VXV
FOLHQWHV
7RGR HVWH SDQRUDPD QR VROR KD VLJQLILFDGR XQ FDPELR HQ OD PDQHUD GH
KDFHU QHJRFLRV VLQR TXH KD KHFKR LPSRUWDQWHV PRGLILFDFLRQHV HQ ODV
HVWUXFWXUDV RUJDQL]DFLRQDOHV SRU OR TXH ODV HPSUHVDV KDQ UHRUJDQL]DGRV VXV
HVTXHPDV FXOWXUDOHV D QLYHO GH WRGRV ORV SURFHGLPLHQWRV UHODFLRQDGRV FRQ
JHVWLyQGHOWDOHQWRKXPDQR(VWHDUWtFXORWLHQHFRPRREMHWLYRGHVFULELUFRPRD
SDUWLU GH ODV HOHPHQWRV IXQGDPHQWDOHV GH OD RUJDQL]DFLyQ ODV HPSUHVDV
UHVSRQGHQDORVFDPELRVSDUDGHVDUUROODUSURFHVRVTXHOHSHUPLWDQXQDHILFD]
JHVWLyQGHODGLYHUVLGDGLQFOX\HQGRORVGHUHFOXWDPLHQWR\VHOHFFLyQ
$EVWUDFW
'XHWKHODVW\HDUVFKDQJHVLQWKHVRFLDODQGWHFKQRORJLFDOOHYHOVLQWKHZRUOG
PXVW RI WKH FRPSDQLHV DURXQG WKH JOREH KDYH EHHQ IRUFHG WR H[SDQG WKHLU
ERUGHUVDQGKDYHEHHQGUDPDWLFDOO\LQIOXHQFHGLQWKHZD\WKH\GREXVLQHVVDQG
QRW RQO\ VPDOO FRPSDQLHV EXW FRUSRUDWLRQ UHJDUGOHVV WKH VL]H RU PDUNHW LQ
RUGHUWRNHHSFRPSHWLWLYHWDNHFDUH RIWKH ZHOIDUH RILWVHPSOR\HHVDQGPHHW
WKH QHHGV RI LWV FXVWRPHUV FRPSDQLHV ZHUH IRUFH WR HYROYH DQG PDGH
VXEVWDQWLDOFKDQJHV
3DODEUDV FODYHV FXOWXUD RUJDQL]DFLyQ JHVWLyQ GLYHUVLGDG UHFOXWDPLHQWR
VHOHFFLyQ
ϭ
>ŝĐĞŶĐŝĂĚŽ ĞŶ WƐŝĐŽůŽŐşĂ͕ ĐĂŶĚŝĚĂƚŽ Ă >ŝĐĞŶĐŝĂĚŽ ĞŶ ŽŵƉŽƌƚĂŵŝĞŶƚŽ KƌŐĂŶŝnjĂĐŝŽŶĂů͘ ŽƌƌĞŽ
ĞůĞĐƚƌſŶŝĐŽ͗ĚĞǀĂƐĐƌΛŚŽƚŵĂŝů͘ĐŽŵ
ϭ
,
,QWURGXFFLyQ
/DVHPSUHVDVLQGHSHQGLHQWHGHVXQDWXUDOH]DGHVXWDPDxRVXFDSDFLGDG
GH H[SDQVLyQ \ HO OXJDU JHRJUiILFR HQ HO TXH VH HQFXHQWUDQ HQ OD DFWXDOLGDG
GHEHQ GH HQIUHQWDU XQD VHULH GH FDPELRV OR TXH HQ FRQVHFXHQFLD OHV KD
GHPDQGDGR OD FRQVWUXFFLyQ HVWUDWHJLDV TXH OH SHUPLWDQ UHVSRQGHU GH PDQHUD
FDVL LQPHGLDWDD ORV PLVPRV VHJXLU VLHQGR FRPSHWLWLYDV \ QR GHVFXLGDU WRGRV
DTXHOORVHOHPHQWRVSURSLRVGHVXLGHQWLGDG\TXHODVGLIHUHQFLDGHODVGHPiV
HQRWUDVSDODEUDVODVRUJDQL]DFLRQHVDFWXDOHVSDUDUHVSRQGHUDORVDFHOHUDGRV
SURFHVRV GH JOREDOL]DFLyQ KDQ WHQLGR TXH UHRULHQWDU VXV IXQGDPHQWRV
ILORVyILFRV\ODPHWRGRORJtDFRQODTXHOOHYDQDFDERVXWUDEDMR
/RV SURFHVRV GH FDPELR QR VROR VH OLPLWDQ D XQD VROD GH ODV iUHDV GH OD
RUJDQL]DFLyQ VLQR TXH LQYROXFUDQ HO iUHD WHFQROyJLFD ILQDQFLHUD \ KXPDQD
VLHQGRHVWD~OWLPDODTXHWLHQHXQUROSULPRUGLDOSXHVVRQORVFRODERUDGRUHVD
ODKRUDGHLQWHULRUL]DU\SRQHUHQSUiFWLFDSRVWXODGRVWHyULFRV\SURFHGLPLHQWRV
RUJDQL]DFLRQDOHV ORV TXH OH GDQ YLGD D OD FXOWXUD RUJDQL]DFLRQDO \ SRU HQGH
WDPELpQ YDQ DVHU ORV HQWHV SULQFLSDOHV DORVTXH YDQ GLULJLGRV ORV SURJUDPDV
GH JHVWLyQ GH OD GLYHUVLGDG $GHPiV VH KD FRPSUREDGR TXH HO EXHQ
GHVHPSHxR GH ORV FRODERUDGRUHV UHSHUFXWH HQ HO p[LWR R IUDFDVR GH OD
RUJDQL]DFLyQ
'HVGH ODV SROtWLFDV GH UHFOXWDPLHQWR \ VHOHFFLyQ VH SXHGHQ GHVDUUROODU
YHQWDMDVFRPSHWLWLYDVTXHSHUPLWDQDGTXLULUHOWDOHQWRKXPDQRLGyQHRQRVROR
SDUDGHVHPSHxDUVDWLVIDFWRULDPHQWHORVUHTXHULPLHQWRV\WDUHDVSURSLDVGHXQ
GHWHUPLQDGR SXHVWR VLQR TXH MXHJXHQ XQ URO DFWLYR HQ DGPLQLVWUDFLyQ GH OD
GLYHUVLGDG \ GH HVWDPDQHUDDVHJXUDUVHXQFXPSOLPLHQWR HILFD]\HILFLHQWHGH
ORV REMHWLYRV ORV YDORUHV \ SULQFLSLRV GH OD RUJDQL]DFLyQ \ GH HVWD PDQHUD
DSURYHFKDUORVUHFXUVRV
,,
&XOWXUD2UJDQL]DFLRQDO
3DUDFRPSUHQGHUODPDQHUDHQTXHODVRUJDQL]DFLRQHVYDQFRQVWUX\HQGRVX
LGHQWLGDG \ YDQ GHVDUUROODQGR PHFDQLVPRV SURSLRV SDUD OD LPSOHPHQWDFLyQ GH
HVWUDWHJLDVTXHOHSHUPLWDQDGPLQLVWUDUORVSURFHGLPLHQWRV\ORVFDPELRVDORV
TXHGHEHQGHHQIUHQWDUVHHQWUHHOORVORVSURFHVRVUHIHUHQWHVDODJHVWLyQGHOD
GLYHUVLGDG HV QHFHVDULR GHILQLU HO FRQFHSWR GH &XOWXUD 2UJDQL]DFLRQDO DVt
FRPRORVSURFHVRVTXHLPSOLFDHVWHIHQyPHQR
/D &XOWXUD 2UJDQL]DFLRQDO VHJ~Q 5REELQV HV HO VLVWHPD GH
VLJQLILFDGRV FRPSDUWLGRV SRU WRGRV ORV PLHPEURV GH OD RUJDQL]DFLyQ TXH OD
GLVWLQJXHQGHRWUDVSRUORWDQWRHVXQHVWDGRGHHTXLOLEULRHQWUHORVLQGLYLGXRV
ORVREMHWLYRV\ORVYDORUHVGHODHPSUHVD
2WUR DSRUWH GH VLJQLILFDWLYD LPSRUWDQFLD HQ OD SURSXHVWD GH 5REELQV HV
FODVLILFDU ODV FXOWXUDV HQ IXHUWH \ GpELOHV DO SRVWXODU TXH XQD FXOWXUD
RUJDQL]DFLRQDOYDDVHUPiVIXHUWHHQODPHGLGDTXHORVYDORUHVFHQWUDOHVGHOD
RUJDQL]DFLyQ VRQ DFHSWDGRV \ FRPSDUWLGRV SRU OD PD\RUtD GH ORV
FRODERUDGRUHV
Ϯ
$GOHU S WDPELpQ SUHVHQWD XQD FRQFHSWXDOL]DFLyQ VLPLODU D OD GH
5REELQV DO SURSRQHU TXH OD FXOWXUD HV XQ ³FRQMXQWR GH UHJODV UHODWLYDPHQWH
HVWDEOHV TXH VH FRPSDUWH VREUH FRPR FRPSRUWDUVH DVt FRPR XQD VHULH GH
YDORUHVVREUHORTXHHVLPSRUWDQWH´
3DUD HVWH DXWRU KD\ XQD VHULH GH IDFWRUHV TXH FRQVWLWX\HQ OD FXOWXUD
RUJDQL]DFLRQDO \ TXH SHUPLWHQ LGHQWLILFDU XQD GH RWUD LQGHSHQGLHQWHPHQWH GHO
WDPDxR GH OD RUJDQL]DFLyQ \ GH ODV VLPLOLWXGHV HQ HO JLUR GH QHJRFLR GH OD
PLVPDHVWRVIDFWRUHVVRQ
x 6RFLDELOLGDG VRQ ODV UHGHVUHODFLRQDOHV FRQVWUXLGDV HQWUH ORVPLHPEURV
GH OD RUJDQL]DFLyQ DVt FRPR HO JUDGR \ WLSR GH ODV PLVPDV SHUVRQDO
SURIHVLRQDO\SURIHVLRQDO
x 'LVWULEXFLyQ GHO SRGHU \ DXWRQRPtD GHO WUDEDMR KDFH UHIHUHQFLD D OD
GLVWDQFLDTXHKD\HQWUHORVFRODERUDGRUHVHQIXQFLyQGHOJUDGRGHSRGHU
HMHUFLGR\GHVXSRVLFLyQMHUiUTXLFDHQODHVWUXFWXUDDVtFRPRODOLEHUWDG
SDUD WRPDU GHFLVLRQHV \ DVXPLU ODV UHVSRQVDELOLGDGHV GH ODV
FRQVHFXHQFLDVGHODVPLVPDV
x *UDGRGHHVWUXFWXUDODFDQWLGDG GHPHFDQLVPRV \SURFHGLPLHQWRVSDUD
GHILQLU SROtWLFDV GHOHJDU UHVSRQVDELOLGDGHV \ WUD]DU REMHWLYRV \ PHWDV
SDUDFDGDiUHDGHWUDEDMR
x 3UHPLRVSRUORJURVHVODIUHFXHQFLD\HOWLSRGHUHFRQRFLPLHQWRUHFLELGR
SRUORVORJURVDOFDQ]DGRV
x 2SRUWXQLGDGHV GH FUHFLPLHQWR VRQ ORV PHFDQLVPRV LPSOHPHQWDGRV SRU
ODV RUJDQL]DFLRQHV SDUD SURPRYHU HO GHVDUUROOR SURIHVLRQDO \ ODERUDO GH
ORV FRODERUDGRUHV DWUHYHV GH OD IRUPDFLyQ OD FDSDFLWDFLyQ \ HO
HQWUHQDPLHQWR
x 7ROHUDQFLDDOULHVJRGHOFDPELRHVODFDSDFLGDG\IOH[LELOLGDGTXHWLHQH
OD HPSUHVD SDUD FRUUHU ULHVJRV UD]RQDEOHV DVt FRPR HO YDORU GDGR DO
PDQWHQLPLHQWRGHHQIRTXHVWUDGLFLRQDOLVWDV
x 7ROHUDQFLD DO FRQIOLFWR KDFH UHIHUHQFLD DO YDORU RWRUJDGR D ODV
VLWXDFLRQHV GH FULVLV \ D ORV PHFDQLVPRV TXH SURSLFLDQ OD FDSDFLGDG
RUJDQL]DFLRQDOSDUDHQIUHQWDUORV\GDUOHVXQDVROXFLyQVDWLVIDFWRULD
x $SR\RHPRFLRQDOHVODSUHRFXSDFLyQUHDOTXHWLHQHQORVGLYHUVRVHQWHV
RUJDQL]DFLRQDOHV SRU HO ELHQHVWDU HPRFLRQDO \ OD QHFHVLGDG GH ORV
FRODERUDGRUHV\ODUHVSXHVWDTXHGDDORVPLVPRV
(Q FDPELR DXWRUHV FRPR *LEVRQ D SHVDU GH UHFRQRFHU TXH OD
FXOWXUDRUJDQL]DFLRQDOHVXQDSHUVSHFWLYDPHGLDQWHODFXDOVHORJUDHQWHQGHUHO
FRPSRUWDPLHQWR GH ORV FRODERUDGRUHV \ ORV JUXSRV GHQWUR GH OD RUJDQL]DFLyQ
FRQVLGHUDTXHHVWHFRQFHSWRHVLQFRPSOHWR\DTXHHQHVWRVQRVHFRQWHPSOD
HOURODFWLYR\WUDQVIRUPDGRUTXHWLHQHQWRGRV\FDGDXQRGHORVFRODERUDGRUHV
3DUD *LEVRQ S ³OD FXOWXUD RUJDQL]DFLRQDO HV OR TXH ORV HPSOHDGRV
SHUFLEHQ \ OD PDQHUD HQ TXH HVWi SHUFHSFLyQ FUHD XQ SDWUyQ GH FUHHQFLDV
YDORUHV \ H[SHFWDWLYDV GHQWUR GH OD RUJDQL]DFLyQ´ (V GHFLU HQ HO FRQFHSWR GH
ϯ
FXOWXUD RUJDQL]DFLRQDO GHEHQ GH LQFOXLUVH ODV VXSRVLFLRQHV DGDSWDFLRQHV
SHUFHSFLRQHV\SURFHVRVGHDSUHQGL]DMH
3DUWLHQGR GH ORV DSRUWHV WHyULFRV GH HVWRV DXWRUHV OD &XOWXUD
2UJDQL]DFLRQDOVHGHEHGHHQWHQGHUFRPRXQSURFHVRUHFtSURFRGRQGHKD\XQ
LQWHUFDPELR GH LGHRORJtDV SHUVSHFWLYDV ULWXDOHV \ DFFLRQHV HQWUH OD
RUJDQL]DFLyQ\ORVPLHPEURVTXHODFRQIRUPDQHVGHFLUFDGDXQDGHODVSDUWHV
GD VX DSRUWH SDUD OD FRQVWUXFFLyQ GHVDUUROOR LPSOHPHQWDFLyQ H LGHQWLILFDFLyQ
GHXQDFXOWXUDSURSLD
3HURODFXOWXUDRUJDQL]DFLRQDOQRVRORVHWUDWDGHSRVWXODGRVILORVyILFRVTXH
VHFRQWLHQHQHQODPLVLyQ\YLVLyQRTXHVHSODVPDQHQXQSODQGHWUDEDMRVL
QRTXHVHWLHQHTXHUHIOHMDUHQODFRWLGLDQHLGDGGHODLQVWLWXFLyQHQVXGLVHxR\
HQVXHVWUXFWXUD
/DHVWUXFWXUDGHODRUJDQL]DFLyQSDUD*LEVRQYDDHVWDUUHODFLRQDGD
FRQ HO FRQMXQWR GH SDWURQHV TXH OHV GDQ IRUPDOLGDG D WRGDV ODV DFFLRQHV
DFWLYLGDGHV H LQWHUUHODFLRQHV HQWUH WRGDV ODV HQWLGDGHV TXH FRQIRUPDQ OD
RUJDQL]DFLyQ/DFXOWXUDRUJDQL]DFLRQDOVHYHUHIOHMDGDHQODHVWUXFWXUDDWUDYpV
GHO GLVHxR GH SHUILOHV TXH HV GRQGH VH HVSHFLILFDQ ORV FRQWHQLGRV
PHWRGRORJtDVMHUDUTXtDVHLQWHUDFFLRQHVGH ODVSRVLFLRQHVSDUDGDUUHVSXHVWD
D ORV UHTXHULPLHQWRV RUJDQL]DFLRQDOHV \ HO GLVHxR GH OD RUJDQL]DFLyQ TXH HV
GRQGH VH YLVXDOL]D OD FRUSRUDFLyQ HQ VX WRWDOLGDG FRQ FDGD XQD GH ODV SDUWHV
TXH OD FRQIRUPDQ ODV IXQFLRQHV GH FDGD XQD GH HOODV HO JUDGR GH
LQWHUGHSHQGHQFLD\ODOtQHDGHUHSRUWHHQWUHFDGDXQDGHODVXQLGDGHV
/DFXOWXUDRUJDQL]DFLRQDOWDPELpQVHUHIOHMDHQORVSURFHVRVSURSLRVGHODV
RUJDQL]DFLRQHV\DTXHHVWRVGDQODVSDXWDVFRPSRUWDPHQWDOHVTXHGDQYLGDD
OD HVWUXFWXUD \ TXH JDUDQWL]DQ HO p[LWR R IUDFDVR GHO QHJRFLR HVWRV SURFHVRV
VRQODFRPXQLFDFLyQ\ODWRPDGHGHFLVLRQHV
*LEVRQ PDQLILHVWDTXHORV SURFHVRV GHFRPXQLFDFLyQVHUHIOHMDQHQ
ODVXSHUYLYHQFLDGHODRUJDQL]DFLyQ\DTXHPXHVWUDQODFDSDFLGDGSDUDUHFLELU
WUDQVPLWLU \ GHVSOHJDU DFFLRQHV UHVSHFWR D OD LQIRUPDFLyQ /RV SURFHVRV
FRPXQLFDFLRQDOHV IRPHQWDQ OD YLQFXODFLyQ GH OD RUJDQL]DFLyQ FRQ HO PHGLR H
LQWHJUDODVDFWLYLGDGHVDORLQWHUQRGHODPLVPD
&RQUHVSHFWRDODWRPDGHGHFLVLRQHVODFDOLGDGGHHVWHSURFHVRYDDHVWDU
HQ UD]yQ GH KDFHU XQD DGHFXDGD VHOHFFLyQ GH ORV REMHWLYRV \ GHO
HVWDEOHFLPLHQWRGHORVUHVXOWDGRVHVSHUDGRVDVtFRPRGHORVPHFDQLVPRVPiV
FHUWHURVSDUDORJUDUORV
8QDRUJDQL]DFLyQFRQXQDFXOWXUDGHILQLGD\FRQXQDHVWUXFWXUDIRUWDOHFLGD
SXHGHKDFHUIUHQWHDORVYLFLVLWXGHVFRQODVTXHWLHQHTXHHQIUHQWDUVHSXHVHQ
OD DFWXDOLGDG VH YLYHQ SURFHVRV GH FDPELR \ JOREDOL]DFLyQ SRU OR TXH ODV
HPSUHVDV KDQ WHQLGR TXH UHRULHQWDU HO VHQWLGR D VXV QHJRFLRV \ SRU HQGH
WDPELpQVHKDQYLVWRHQODREOLJDFLyQGHXWLOL]DUQXHYRVUHFXUVRVHLQQRYDUHQOD
XWLOL]DFLyQGHPpWRGRVGHWUDEDMRSDUDHOORJURGHORVREMHWLYRVFRUSRUDWLYRV\
GHHVWDPDQHUDPDQWHQHUVHYLJHQWHVHQXQPHGLRDOWDPHQWHFRPSHWLWLYR
0XFKDVHPSUHVDVHVWiQVLHQGRFRQVLHQWHVGHODLPSRUWDQFLDGHGLYHUVLILFDU
VXV QHJRFLRV \ H[SDQGLU VXV IURQWHUDV SRU OR TXH SRFR D SRFR KDQ LGR
ϰ
LQWHUDFWXDQGR PiV FRQ ORV XVXDULRV D ORV TXH YDQ GLULJLGRV VXV SURGXFWRV \
VHUYLFLRV UHFRQRFLHQGR ODV WHQGHQFLDV +LOO TXH DFWXDOPHQWH ULJHQ HO
PHUFDGR \ DSURYHFKDQGR ODV PLVPDV HQ IXQFLyQ GH VX GHVDUUROOR \
RSRUWXQLGDGHV GH QHJRFLR TXH RIUHFHQ 6HJ~Q +LOO HQ VX REUD WHQGHQFLDVHQPLQXWRVHODQiOLVLVGHHVWDVWHQGHQFLDVSHUPLWHHOGHVDUUROOR
GH QXHYDV HVWUDWHJLDV \ OD IOH[LELOLGDG SDUD DGDSWDUVH D ORV FDPELRV VLQ TXH
HVWH SURFHVRVH OOHJXHDFRQYHUWLUXQIHQyPHQRPRGDO\PHGLiWLFRVLQRPiV
ELHQ OOHJXH D VHU XQ IHQyPHQR LPSRUWDQWH \ GXUDGHUR 3DUD SRGHU LGHQWLILFDU
HVWDV WHQGHQFLDV \ VDFDU GH HOODV HO PHMRU SURYHFKR VH KDQ FODVLILFDGR HQ FDWHJRUtDV
7HQGHQFLDV HFRQyPLFDV \ JHRSROtWLFDV HVWD WHQGHQFLD KDFH UHIHUHQFLD D OD
FDSDFLGDG SDUD DGTXLULU KHUUDPLHQWDV TXH FRPR HO LQWHUQHW OD FRPXQLFDFLyQ
VDWHOLWDO \ OD WHOHIRQtD FHOXODU KDQ PRGLILFDGR OD YLVLyQ GH PXQGR SHUPLWLHQGR
OOHJDUDOXJDUHVUHPRWRV\KDLQWHUFDPELDULQIRUPDFLyQFRQGLYHUVDVFXOWXUDOHV
7HQGHQFLDV WHFQROyJLFDV OD LQQRYDFLyQ WHFQROyJLFD SURPXHYH OD
LPSOHPHQWDFLyQ GH XQD VHULH GH SURFHVRV TXH FDPELDUDQ ORV DPELHQWHV \
FUHDUDQRSRUWXQLGDGHV
7HQGHQFLDV VRFLDOHV VRQ ODV UHDFFLRQHV TXH PXHVWUDQ ORV GLVWLQWRV JUXSRV
VRFLDOHV DQWH ORV SURFHVRV GH FDPELR \ FyPR pVWRV PRGLILFDQ VXV HVTXHPDV
FRQGXFWXDOHV\UHODFLRQDOHV\IDFLOLWDQGRHOLQWHUFDPELRHQWUHFXOWXUDV
7HQGHQFLDV GH FRQVXPR OD YDULHGDG GH PDUFDV \ SURGXFWRV DVt FRPR HO
LQFUHPHQWR GHO SRGHU DGTXLVLWLYR GH ORV FRQVXPLGRUHV KDFH TXH pVWRV VH
YXHOYDQ PiV H[LJHQWHV WHQJDQ PiV SRVLELOLGDGHV SDUD HOHJLU \ HVFRMDQ
DTXHOORV SURGXFWRV \R VHUYLFLRV TXH OHV EULQGHQ XQD VDWLVIDFFLyQ UHDO D VXV
QHFHVLGDGHV
7HQGHQFLDV GH QHJRFLRV HVWDV VRQ ODV WHQGHQFLDV PiV FDPELDQWHV \ KDFHQ
UHIHUHQFLD D OD FDSDFLGDG TXH WLHQH ODV HPSUHVDV SDUD HVSHFLDOL]DUVH HQ
GHWHUPLQDGR VHFWRU GHO PHUFDGR HQFRQWUDU QXHYRV QLFKRV DSURYHFKDU
RSRUWXQLGDGHV GH QHJRFLRV HVWDEOHFHU DOLDQ]DV FUHDU QXHYRV SURGXFWRV HQ
RWURV
7HQGHQFLDV ODERUDOHV ORV LQGLYLGXRV HQ OD DFWXDOLGDG HVWiQ SUHSDUDGRV
DFDGpPLFDPHQWH SDUD UHDOL]DU WDUHDV TXH GHPDQGDQ XQ DOWR QLYHO GH
SURIHVLRQDOLVPR \ HVSHFLDOLGDG \ QR VXHOHQ TXHGDUVH HQ XQD VROD HPSUHVD
KDVWDMXELODUVHORTXHOHVSHUPLWHWHQHUXQDSHUVSHFWLYDPiVDPSOLDDODKRUD
GHLQWHUDFWXDUHQGLYHUVRVFRQWH[WRVDSDUWHODVJUDQGHVFRUSRUDFLRQHVUHFOXWDQ
VXSHUVRQDODOUHGHGRUGHOPXQGR
&RPR FRQVHFXHQFLD D HVWH IHQyPHQR .LP 0DXERXUJQH SRVWXODQ
TXH PXFKDV HPSUHVDV KDQ LQLFLDGR OD FUHDFLyQ GH QXHYRV HVSDFLRV GH
FRQVXPR \ OD H[SDQVLyQ GH VXV IURQWHUDV HQ XQ PHUFDGR GHILQLGR HVWXGLDQGR
ORVGLYHUVRVVHJPHQWRVHVWUDWpJLFRVTXHORFRQIRUPDQ$OJXQDVKDQHPSH]DGR
DVXVWLWXLUHOJUXSR GHSHUVRQDV DODVFXDOHVVHGLULJHODRIHUWD GHODHPSUHVD
SRURWUR TXH QRKDVLGRH[SORWDGRFUHDUQXHYRVHVSDFLRVWRPDQGRHQFXHQWD
ORV VHQWLPLHQWRV \ HPRFLRQHV GH ORV XVXDULRV ORJUDQGR LU PiV DOOi GH OD
GHPDQGDH[LVWHQWH
ϱ
$SHVDUGHTXHODPD\RUtDGHODVHPSUHVDVKDQH[SHULPHQWDGRSURFHVRVGH
FDPELR \ H[SDQVLyQ H[LWRVRV WDPELpQ KDQ WHQLGR TXH DIURQWDU XQD VHULH GH
GLILFXOWDGHVSDUDORJUDUVXVREMHWLYRVHQWUHHOODVORVFKRTXHVFXOWXUDOHV\DTXH
VX YLVLyQ GH PXQGR SHUPHD OD PDQHUD GH UHDOL]DU VXV QHJRFLRV ORV
PHFDQLVPRVSDUDORJUDUUHVXOWDGRVODIRUPDHQTXHHVWUXFWXUDQODVWDUHDV\VH
HQIRFDQHQORVSURFHVRVHOHVWDEOHFLPLHQWRGHMHUDUTXtDV\ODFRQVWUXFFLyQGH
HVWLORVFRPXQLFDFLRQDOHV\UHODFLRQDOHV\pVWDSXHGHGLIHULUGHORVSDUDGLJPDV
TXH VXVWHQWDQ OD FRVPRYLVLyQ GH ODV FXOWXUDV FRQ ODV KDQ LQLFLDGR XQ
GHWHUPLQDGR LQWHUFDPELR FRQ HO ILQ GH UHDOL]DU QHJRFLRV 7DO \ FRPR OR
PHQFLRQD 5LFKDUG /HZLV DO SRVWXODU TXH ³HVWH WLSR GH GLIHUHQFLDV
FXOWXUDOHVVHUHPRQWDQDFUHHQFLDV\VXSRVLFLRQHVELHQGLIHUHQWHVDFHUFDGHOD
UHDOLGDGTXHYDUtDGHSDtVDSDtV(OVHQWLGRFRP~QDPSOLDPHQWHXWLOL]DGRHQ
PXFKDV VLWXDFLRQHV QR SXHGH VHU QHXWUDO 6H GHULYD GH OD H[SHULHQFLD \ OD
H[SHULHQFLDHVWiPX\OLJDGDDVXFXOWXUD´
(QHVWHVHQWLGRRWURDXWRUTXHEULQGDXQDSRUWHGHVLJQLILFDWLYDLPSRUWDQFLD
SDUD FRPSUHQGHU WRGR HO IHQyPHQR GH OD GLYHUVLGDG FXOWXUDO DSR\DGR HQ ORV
DSRUWHV GH OD 3VLFRORJtD 6RFLDO HV 6HUJHL 0RVFRYLFL \ VX SURSXHVWD GH ODV
UHSUHVHQWDFLRQHV VRFLDOHV 3DUD 0RVFRYLFL OD UHSUHVHQWDFLyQ VRFLDO
KDFHUHIHUHQFLDDORVFRQRFLPLHQWRVHVSHFtILFRVR³HOVDEHUGHVHQWLGRFRP~Q´
TXH FXDQGR VH PDQLILHVWDQ UHIOHMDQ ODV LGHDV \ IXQFLRQHV TXH GHWHUPLQDGR
VHFWRU VRFLDO WLHQHQ VREUH GHWHUPLQDGR IHQyPHQRV HV GHFLU ³ODV
UHSUHVHQWDFLRQHV VRFLDOHV FRQVWLWX\HQ PRGDOLGDGHV GH SHQVDPLHQWR SUiFWLFR
RULHQWDGRV KDFLD OD FRPXQLFDFLyQ OD FRPSUHQVLyQ \ HO GRPLQLR GHO HQWRUQR
VRFLDO PDWHULD H LGHDO (Q WDQWR TXH WDOHV UHSUHVHQWDQ FDUDFWHUtVWLFDV
HVSHFtILFDV D QLYHO GH RUJDQL]DFLyQ GH ORV FRQWHQLGRV ODV RSHUDFLRQHV
PHQWDOHV\ODOyJLFD
7RGR HVWH SDQRUDPD SHUPLWH HQWHQGHU TXH WDQWR ODV HPSUHVDV FRPR ODV
SHUVRQDV KDQ FRQVWUXLGR GLYHUVDV PDQHUDV SDUD YLVXDOL]DU HO PXQGR \ KDQ
GHVDUUROODGR GLIHUHQWHV UHSUHVHQWDFLRQHV VRFLDOHV SDUD LQWHUSUHWDU OD FDQWLGDG
GH IHQyPHQRV D ORV TXH VH HQIUHQWDQ SRU OR TXH ODV RUJDQL]DFLRQHV SDUD
PDQWHQHUVH YLJHQWHV JDUDQWL]DUVH HO ORJUR GH ORV REMHWLYRV \ H[SDQGLU VX
PHUFDGR PHWD KDQ HPSH]DGR D UHFRQRFHU OD LPSRUWDQFLD GH UHDOL]DU XQD
JHVWLyQHPSUHVDULDOEDVDGDHQODGLYHUVLGDGFXOWXUDO
,,,
*HVWLyQGHOD'LYHUVLGDG
*HVWLRQDUODGLYHUVLGDGFXOWXUDOGHQWURGHODVRUJDQL]DFLRQHVFRQVWLWX\HXQR
GHORVSURFHVRVGHFDPELRPiVLPSRUWDQWHVDORVFXDOHVVHHVWiQHQIUHQWDQGR
ODVHPSUHVDVSRUORTXHVtODVPLVPDVQRWLHQHQODFDSDFLGDGSDUDHQIUHQWDUOR
SXHGHVLJQLILFDUOHVHOILQGHVXH[LVWHQFLDV*LEVRQSVRVWLHQHTXH
³HOSURFHVRGHFDPELRRFXUUHDH[SHQVDVGHSpUGLGDVDFRUWRSOD]RDFDPELR
GHEHQHILFLRVDODUJRSOD]R´
3DUDTXHHOSURFHVRGHFDPELR\DGDSWDFLyQDODVQXHYDVFRQGLFLRQHVVHD
VDWLVIDFWRULRSULPHURVHGHEHGHDERUGDUVLVWHPiWLFDPHQWH\DGHPiVVHWLHQH
TXH EXHQR FRQWDU FRQ DJHQWHV GH FDPELR R LQWHUYHQWRUHV HQFDUJDGRV GH
DSRUWDULGHDV\SHUVSHFWLYDVGLVWLQWDVDODVLWXDFLyQ\YDQDWHQHUTXHGHVDILDU
HO HVWDGRGHHTXLOLEULRSDUD TXH DO ILQDO \ FRPR UHVXOWDGR GH OD LQWHUYHQFLyQ
ϲ
VH DXPHQWH OD HILFDFLD GH FDGD XQD GH ODV SDUWHV TXH FRPSUHQGH OD
RUJDQL]DFLyQ
&RQ HO ILQ GH TXH HO SURFHVR GH OD DGPLQLVWUDFLyQ GHO FDPELR VHD H[LWRVR
*LEVRQVXJLHUHODSDUWLFLSDFLyQGHWUHVWLSRVGHLQWHUYHQWRUHVHQIXQFLyQ
GHODVGLPHQVLRQHVGHOFDPELRDVtFRPRGHODVQHFHVLGDGHVTXHGHEHQGHVHU
VDWLVIHFKDV(OSULPHURGHHOORVHVHODJHQWHGHFDPELRH[WHUQRTXHYDDVHUXQ
FRODERUDGRU FRQWUDWDGR WHPSRUDOPHQWH FRQ HO ILQ GH IDFLOLWDUOH DO UHVWR GH ORV
PLHPEURV GH OD RUJDQL]DFLyQ OD WUDQVLFLyQ KDFLD HO QXHYR PRGHOR 7DPELpQ
HVWiQORVDJHQWHVGHFDPELRLQWHUQRVTXHVRQVXMHWRVTXH\DIRUPDQSDUWHGH
OD RUJDQL]DFLyQ \ TXH WLHQHQ XQ DPSOLR FRQRFLPLHQWR GH ODV VLWXDFLRQHV TXH
GHEHQGHVHUPRGLILFDGDVGDQGRVROXFLRQHVPiVFHUWHUDV3RU~OWLPRWDPELpQ
VH SXHGH FRQWDU FRQ DJHQWHV GH FDPELR H[WHUQRVLQWHUQRV TXH HV OD
FRQIRUPDFLyQ GH XQ HTXLSR LQWHUYHQWRU FRQ FRQVXOWRUHV H[WHUQRV \
FRODERUDGRUHV LQWHUQRV HVWR FRQ HO ILQ GH RSWLPL]DU UHFXUVRV \ GHVDUUROODU
SURSXHVWDVTXHLQWHJUDQDPEDVSHUVSHFWLYDVRIUHFLHQGRVROXFLRQHVLQWHJUDOHV
$GHPiV ODV RUJDQL]DFLRQHV GHEHQ GH WHQHU FODUR TXH D SHVDU GH OD
SUHSDUDFLyQ GHELGD SDUD DIURQWDU ORV SURFHVRV GH FDPELR VLHPSUH YDQ D
HQFRQWUDUVHFWRUHVUHVLVWHQWHVDDFHSWDUORVFDPELRVSRUWHPRUDSHUGHUORTXH
HVGHYDORUSDUDHOORVSRUVHQWLUTXHQRYDQDWHQHUODFDSDFLGDGGHGHVDUUROODU
KDELOLGDGHV QXHYDV SRU WHQHU SDUiPHWURV GLVWLQWRV D OD KRUD GH HYDOXDU OD
VLWXDFLyQ R ELHQ FXDQGR QR HQWLHQGHQODV UD]RQDV TXHMXVWLILFDQ HO FDPELR \
ODVLPSOLFDFLRQHVGHOPLVPR
0XFKRV GH ORV SURFHVRV GH FDPELR D ORV TXH GHEHQ GH HQIUHQWDUVH ODV
RUJDQL]DFLRQHV HVWiQ HVWUHFKDPHQWH UHODFLRQDGRV FRQ OD JOREDOL]DFLyQ HO
LQWHUFDPELRHPSUHVDULDO\ODWUDQVFXOWXUDOL]DFLyQGHORVQHJRFLRV
&RPRVHKDPHQFLRQDGRFRQDQWHULRULGDGDFWXDOPHQWHORVQHJRFLRVVHKDQ
LQWHUQDFLRQDOL]DGR GH WDO PDQHUD TXH ODV JUDQGHV HPSUHVDV DVt FRPR ODV
SHTXHxDV \ ODV PHGLDQDV GHSHQGHQ GH ODV WUDQVDFFLRQHV FRQ RWUDV FRQ
FXOWXUDVRUJDQL]DFLRQDOHVGLVWLQWDV\TXHSRUORJHQHUDOHVWiQXELFDGDVHQRWUDV
UHJLRQHVGHOPXQGR3HURHVWHIHQyPHQRQRVRORVHOLPLWDDODVWUDQVDFFLRQHV
H LQWHUFDPELRV TXHVH UHDOL]DQHQWUH HPSUHVDVVLQR TXH WDPELpQ pVWDV DVX
LQWHULRU HVWiQ FRQIRUPDGRV SRU FRODERUDGRUHV TXH SURFHGHQ GH UHJLRQHV R
SDtVHV GLVWLQWRV GRQGH VXV FUHHQFLDV HVSLULWXDOHV VXV WDUHDV \ IXQFLRQHV VX
QLYHO DFDGpPLFR \ IRUPDFLyQ SURIHVLRQDO VX JpQHUR \ SUHIHUHQFLD VH[XDO VX
JUXSR pWQLFR VX HGDG VXV FDSDFLGDGHV \ VXV UHSUHVHQWDFLRQHV VRFLDOHV VRQ
GLYHUVDV \ FRPR WRGDV HVWDV FDUDFWHUtVWLFDV D OD KRUD GH FRQIOXLU HQ
GHWHUPLQDGRHVSDFLRYDQDLQIOXLUGHPDQHUDSRVLWLYDRQHJDWLYDHQODJHVWLyQ
GHODHPSUHVD\HQHOJLURGHVXQHJRFLR
(V SRU HVWD UD]yQ TXH ODV QXHYDV FRUULHQWHV WHyULFDV HQ HO iUHD GH OD
DGPLQLVWUDFLyQ GH QHJRFLRV \ GH OD JHVWLyQ GHO WDOHQWR KDQ HPSH]DGR D
UHFRQRFHU HO URO TXH MXHJDQ ODV GLIHUHQFLDV FXOWXUDOHV GH ORV FRODERUDGRUHV \
FyPRVHGHEHQGHPDQHMDUSDUDDVHJXUDUVHHOGHVHPSHxRGHWDUHDV\HOORJUR
GHORVUHVXOWDGRVTXHVXVWHQWDQODPLVLyQ\YLVLyQHPSUHVDULDOSRUPHGLRGHOD
*HVWLyQGHOD'LYHUVLGDG
3DUD*yPH]0HMtDSODJHVWLyQGHODGLYHUVLGDGHV³HOFRQMXQWR
GHDFWLYLGDGHVLPSOLFDGDVHQODLQWHJUDFLyQGHORVHPSOHDGRVQRWUDGLFLRQDOHV
ϳ
PXMHUHV \ PLQRUtDV HQ OD SODQWLOOD \ HO XVR GH VX GLYHUVLGDG SDUD ORJUDU OD
YHQWDMDFRPSHWLWLYDGHODHPSUHVD´
6RVD VH UHILHUH D OD JHVWLyQ GH OD GLYHUVLGDG HQ ORV VLJXLHQWHV
WpUPLQRV
$OFDPELRHQODILORVRItD\SUiFWLFDVHQODDGPLQLVWUDFLyQUHFRQRFLHQGR
TXH ORV HPSOHDGRV QR KDFHQ D XQ ODGR VXV YDORUHV FXOWXUDOHV \ VXV
SUHIHUHQFLDVGHHVWLORVGHYLGDSRUORTXHVHGHEHGHUHVSRQGHUDORV
PLVPRV HQ ODV IRUPDV TXH SHUPLWDQ DVHJXUDU OD UHWHQFLyQ GHO
HPSOHDGR\XQDPD\RUSURGXFWLYLGDGVLHPSUH\FXDQGRQRUHVXOWHQDO
PLVPRWLHPSRGLVFULPLQDWRULDVS
$ HVWDV GHILQLFLRQHV HV LPSRUWDQWH DJUHJDU HO DSRUWH FRQFHSWXDO TXH
UHDOL]DQ%UX\3UH+R\LQJVIGHO3URJUDPDGH(PSOHR\'LVFDSDFLGDGHVGH
OD(VFXHODGH5HODFLRQHV/DERUDOHVH,QGXVWULDOHVGHOD8QLYHUVLGDGGH&RUQHOO
1XHYD<RUNDOSURSRQHUTXH
/D JHVWLyQ GH OD GLYHUVLGDG VH UHILHUH DO SURFHVR PHGLDQWH HO FXDO ORV
HPSOHDGRUHV GHEHQ GH HQIUHQWDU GHVDItRV HQ PDWHULD GH
DGPLQLVWUDFLyQHQWUHQDPLHQWRVXSHUYLVLyQOHDOWDGFRKHVLyQGHJUXSR
UHFRPSHQVDV PDQHMR GH OD WROHUDQFLD HQWUH WUDEDMDGRUHV \ OD
DGPLQLVWUDFLyQ \ DSR\R D ODV QHFHVLGDGHV HVSHFLDOHV \D TXH JUXSRV
GLYHUVRV WUDHQ FRQVLJR DO OXJDU GH WUDEDMR DFWLWXGHV SHUFHSFLRQHV
PRWLYDFLRQHV\QHFHVLGDGHVGLIHUHQWHVSRUORTXHODSURGXFWLYDODERUDO
YDDGHSHQGHUGHTXHHVWDVQHFHVLGDGHVHVWpQGHELGDPHQWHDWHQGLGDV
S
3DUWLHQGRGHHVWRVDSRUWHVFRQFHSWXDOHVVHSXHGHLQIHULUTXHODJHVWLyQGH
OD GLYHUVLGDG UHTXLHUH GHO DEULJR GH ORV PDQGRV HVWUDWpJLFRV GH OD
RUJDQL]DFLyQDSR\DGRVGHORVHQFDUJDGRVGHOWDOHQWRKXPDQRSDUDTXHHVWH
IHQyPHQR VHD SDUWH LQWHJUDO GH OD HVWUDWHJLD RUJDQL]DFLRQDO GHELGR D TXH OD
FXOWXUD FRUSRUDWLYD \ ORJUD TXH VH PXHVWUH OD PDQHUD HQ TXH VH YDORUDQ \
DSURYHFKDQODVGLIHUHQFLDVHQWUHORVFRODERUDGRUHVHVGHFLUODGLYHUVLGDGELHQ
DGPLQLVWUDGDVHYXHOYHXQDYHQWDMDFRPSHWLWLYD
/DJHVWLyQGHODGLYHUVLGDGVHFRQVLGHUDXQDYHQWDMDFRPSHWLWLYDWDOFRPR
OR UHILHUH 7D\ORU FLWDGR SRU 0RUD HQ HO VHQWLGR TXH PHMRUD ORV FRVWRV HQ
UHODFLyQFRQODVHPSUHVDVTXHQRGHVDUUROODQHVWHWLSRGHHVWUDWHJLDV7DPELpQ
OD JHVWLyQ GH OD GLYHUVLGDG SHUPLWH TXH ODV RUJDQL]DFLRQHV VHDQ IOH[LEOHV
UHDFFLRQHQ\VHDGDSWHQFRQIDFLOLGDGDORVFDPELRVTXHGHEDQDIURQWDU
2WUR DSRUWH GH PHGXODU LPSRUWDQFLD GH OD JHVWLyQ GH OD GLYHUVLGDG HV OD
PHMRUD GH OD LPDJHQ FRUSRUDWLYD \D TXH ODV SHUVRQDV EXVFDQ WUDEDMDU \ VH
GHVHPSHxDQ PHMRU HQ RUJDQL]DFLRQHV TXH QR EDVDQ VXV SURFHGLPLHQWRV HQ
HVWHUHRWLSRV $GHPiV ODV HPSUHVDV TXH UHFRQRFHQ OD GLYHUVLGDG GH VXV
FRODERUDGRUHV VH YHQ EHQHILFLDGDV HQ HO VHQWLGRGHTXH DOFRQWDU FRQJUXSRV
KHWHURJpQHRVVHFXHQWDFRQXQDSHUVSHFWLYDPiVDPSOLDFRPSOHMD\FUHDWLYD
SDUDVROXFLRQDUSUREOHPDV\VDWLVIDFHUQHFHVLGDGHVDVtFRPRFRQXQDPD\RU
VHQVLELOLGDGSDUDQHJRFLDUHLQFXUVLRQDUHQQXHYRVPHUFDGRV
ϴ
*LEVRQ SURSRQH OD JHVWLyQ GH OD GLYHUVLGDG FRPR XQD GH ODV
HVWUDWHJLDV SDUD FDSDFLWDU \ GDU UHVSXHVWD D OD DGPLQLVWUDFLyQ GHO FDPELR
SXHVLQWHQWDKDFHUTXHORVFRODERUDGRUHVGHVDUUROOHQFRQFLHQFLDGHVtPLVPRV
\ GH ORV HIHFWRV GH VXV DSWLWXGHV VREUH ORV GHPiV (VWH WLSR GH HVWUDWHJLD
EXVFD OD VHQVLELOL]DFLyQ DQWH OD FDGD YH] PD\RU FDQWLGDG GH JUXSRV
FRQVLGHUDGRVFRPR³PLQRULWDULRV´GHQWURGHODVRUJDQL]DFLRQHVSURSLFLDQGRXQ
DPELHQWHGRQGHODVH[SHULHQFLDVGHDSUHQGL]DMHVHFRQVWUX\DQSDUWLHQGRGHXQ
LQWHUFDPELR GH LGHDV TXH SURSLFLH HO GLDORJR DFHUFD GH TXH DFFLRQHV SXHGHQ
VHU YLVWDV FRPR RIHQVLYDV \ FXDOHV QR \ FRPR VH SXHGH LU IRPHQWDQGR OD
WROHUDQFLDFRPRSDUWHGHORVYDORUHVSURSLRVGHODFXOWXUDRUJDQL]DFLRQDO
(VWDVDILUPDFLRQHVGDQUHIHUHQFLD DTXH OD JHVWLyQGHODGLYHUVLGDGVH GD
FXDQGR ORV FRODERUDGRUHV \D VH HQFXHQWUDQ LQPHUVRV GHQWUR GH OD
RUJDQL]DFLyQ SRU OR TXH VXUJH OD LQWHUURJDQWH GH TXH Vt ODV RUJDQL]DFLRQHV
VXVWHQWDQ WRGRV VXV SURFHGLPLHQWRV GHVGH ORV SURFHVRV GH UHFOXWDPLHQWR \
VHOHFFLyQGHORVSRWHQFLDOHVFRODERUDGRUHV
,9
3URFHVRVGH5HFOXWDPLHQWR\6HOHFFLyQGH3HUVRQDO
/RV SURFHGLPLHQWRV GH UHFOXWDPLHQWR \ VHOHFFLyQ GH SHUVRQDO WLHQHQ VX
VXVWHQWR WHyULFR \ SUiFWLFR HQ ORV SULQFLSLRV GH OD 3VLFRORJtD /DERUDO TXH
SRVWXODQ TXHODVRUJDQL]DFLRQHVGHEHQGH HVWDEOHFHUORVPpWRGRVQHFHVDULRV
SDUD HOHJLU D ORV FRODERUDGRUHV TXH WHQJDQ ODV FDUDFWHUtVWLFDV FRQGXFWXDOHV
TXHJDUDQWLFHQVXp[LWRHQGHWHUPLQDGRSXHVWR
/DLPSRUWDQFLDGHXWLOL]DUXQPpWRGRTXHD\XGHDH[SOLFDUODFRQGXFWDGHXQ
VXMHWR HQ OD RUJDQL]DFLyQ HVWi HQ HO HVWDEOHFLPLHQWR GH SDXWDV FRPXQHV HQ
IXQFLyQGHODVODERUHVSRUUHDOL]DUHV~WLOH[DPLQDUDODSHUVRQD\VXIXQFLyQ
WDQWRDQLYHOItVLFRLQWHOHFWXDO\HPRFLRQDO
%DUTXHURVHxDODTXHOD3VLFRORJtD/DERUDOD\XGDDGHWHUPLQDUTXH
ODVSHUVRQDVTXHREWLHQHQPD\RUVDWLVIDFFLyQHQODODERUTXHGHVHPSHxDEDQ
SURGXFHQPHMRUHVUHVXOWDGRV6HGHQRWDDGHPiVODLQFOXVLyQGHFRQFHSWRVWDQ
LPSRUWDQWHVFRPRODPRWLYDFLyQODRUJDQL]DFLyQODFRQGXFWD\ODFRQVHFXHQFLD
TXHDQWHVVRORVHUHIHUtDQDIDFWRUHVSHUVRQDOHVHLQGLYLGXDOHVSRUHOORVHYH
OD3VLFRORJtD/DERUDOFRQXQDFHUFDPLHQWRPiVKXPDQR
9LOODORERVPHQFLRQDTXH
(OGHVDUUROOR GHODQiOLVLVIXQFLRQDOGHODFRQGXFWDLPSOLFDXQ HVIXHU]R
VLVWHPiWLFRH[KDXVWLYRSUHFLVR\UHSOLFDEOH´\UHVSRQGHDXQDODERUGH
E~VTXHGD GH YDULDEOHV TXH SHUPLWDQ H[SOLFDU HO FRPSRUWDPLHQWR
KXPDQRDGHPiVHVWHPLVPRDXWRUSURSRQHTXHHVWHPRGHOR³GHILQH
XQ SDWUyQ GH FRPSRUWDPLHQWR TXH HVWi UHODFLRQDGR FRQ ORV
DQWHFHGHQWHVTXHSUHFHGHQODUHVSXHVWDS
&RQHVWHPRGHORODSRVLELOLGDGGHGHVFULELUH[SOLFDUUHJXODU\SUHGHFLUODV
UHVSXHVWDVGHLQGLYLGXRVHQXQPHGLRRUJDQL]DFLRQDOFRQWURODQGRORVIDFWRUHV
DPELHQWDOHVTXHUHJXODQORVFRPSRUWDPLHQWRVHVPDQLILHVWR
ϵ
3RU OR WDQWR HV LPSRUWDQWH TXH HVWH PRGHOR VH WRPH HQ FXHQWD \D TXH
SHUPLWH DQDOL]DU UHFXUVRV WDQWR ItVLFRV HPRFLRQDOHV X RUJDQL]DFLRQDOHV TXH
D\XGHQ D HQWHQGHU HO VHU KXPDQR HQ OD RUJDQL]DFLyQ R HPSUHVD GDQGR
KHUUDPLHQWDVQXHYDVTXHSHUPLWDQXQDGHFXDGRGHVDUUROORGHORVSURFHVRVGH
UHFOXWDPLHQWR\VHOHFFLyQGHSHUVRQDOEDVDGRVHQORTXHODHPSUHVDTXLHUHGH
VXV HPSOHDGRV SRU OR WDQWR OD PLVLyQ YLVLyQ X REMHWLYRV VH FXPSOLUtDQ \ OD
FRUSRUDFLyQ VH PDQWHQGUtD YLJHQWH \ FRQ OD FDSDFLGDG GH DGDSWDUVH D ORV
FDPELRVLQQRYDUHQVXVVHUYLFLRV\SURGXFWRV\GHHVWDPDQHUDVDWLVIDFHUODV
QHFHVLGDGHVGHVXVXVXDULRV
(Q HVWH SXQWR HV QHFHVDULR GHILQLU ORV GLVWLQWRV FRQFHSWRV TXH PDQHMDQ
GLYHUVRV DXWRUHV DFHUFD GH ORV SURFHGLPLHQWRV GH UHFOXWDPLHQWR \ VHOHFFLyQ
SDUDFRPSUHQGHUVtHQHOORVVHLQLFLDODJHVWLyQGHODGLYHUVLGDGRVtHVWHHVXQ
SURFHVR TXH VH GD XQD YH] TXH ORV FRODERUDGRUHV \D IRUPDQ SDUWH GH OD
RUJDQL]DFLyQ
3DUD*RPH]0HMtDSHO³UHFOXWDPLHQWRHVHOSURFHVRSRUHOTXH
VH JHQHUD XQ JUXSR GH FDQGLGDWRV FXDOLILFDGRV SDUD GHWHUPLQDGR SXHVWR /D
HPSUHVD GHEH DQXQFLDU OD GLVSRQLELOLGDG GH SXHVWRV HQ HO PHUFDGR GHQWUR \
IXHUDGHODRUJDQL]DFLyQ\DWUDHUFDQGLGDWRVFXDOLILFDGRV´
(VWHPLVPRDXWRUSRVWXODTXH
/DVHOHFFLyQHVHOSURFHVRSRUHOTXHVHWRPDODGHFLVLyQGHFRQWUDWDU
R QR FRQWUDWDU D FDGD XQR GH ORV FDQGLGDWRV D XQ SXHVWR (O SURFHVR
QRUPDOPHQWH UHTXLHUH GHWHUPLQDU ODV FDUDFWHUtVWLFDV QHFHVDULDV SDUD
UHDOL]DUFRQp[LWRHOWUDEDMR\DFRQWLQXDFLyQYDORUDUDFDGDFDQGLGDWR
HQ IXQFLyQ GH HVDV FDUDFWHUtVWLFDV JHQHUDOPHQWH EDVDGDV HQ HO
DQiOLVLVGHSXHVWRV(QIXQFLyQGHODSXQWXDFLyQGHFDGDFDQGLGDWRHQ
GLYHUVDV SUXHEDV \R GH OD LPSUHVLyQ TXH KD\DQ FDXVDGR HQ ODV
HQWUHYLVWDVORVGLUHFWLYRVGHWHUPLQDQDODSHUVRQDDODTXHVHRIUHFHUi
HOSXHVWR(VWHSURFHVRVGHVHOHFFLyQVXHOHUHTXHULUHOHVWDEOHFLPLHQWR
GHSXQWXDFLRQHVPtQLPDVORVFDQGLGDWRVTXHQRVXSHUDQHVWRVQLYHOHV
QRVHUiQDFHSWDGRVS
&KLDYHQDWRGHILQHHOUHFOXWDPLHQWRFRPR
(OFRQMXQWRGHWpFQLFDV\SURFHGLPLHQWRVTXHEXVFDDWUDHUFDQGLGDWRV
SRWHQFLDOPHQWH FDOLILFDGRV \ FDSDFHV GH RFXSDU FDUJRV HQ OD
RUJDQL]DFLyQ%iVLFDPHQWHHVXQVLVWHPDGHLQIRUPDFLyQPHGLDQWHHO
FXDO OD RUJDQL]DFLyQ GLYXOJD \ RIUHFH HQ HO PHUFDGR GH UHFXUVRV
KXPDQRVRSRUWXQLGDGHVGHHPSOHRTXHSUHWHQGHOOHQDVS
&RQ UHVSHFWR D OD VHOHFFLyQ &KLDYHQDWR S SRVWXOD TXH HV ³HO
SURFHVRPHGLDQWHHOFXDOXQDRUJDQL]DFLyQHOLJHHQWUHXQDOLVWDGHFDQGLGDWRV
OD SHUVRQD TXH VDWLVIDFH PHMRU ORV FULWHULRV H[LJLGRV SDUD RFXSDU HO FDUJR
GLVSRQLEOHFRQVLGHUDQGRODVDFWXDOHVFRQGLFLRQHVGHOPHUFDGR
6HJ~Q ORV DSRUWHV WHyULFRV GH ORV GH ORV DXWRUHV FLWDGRV HO UHFOXWDPLHQWR
SXHGHHQWHQGHUVHFRPRHOSURFHVRPHGLDQWHHOFXDOODHPSUHVDEXVFDREWHQHU
ϭϬ
FDQGLGDWRV SDUD GHVDUUROODU GLYHUVDV DFWLYLGDGHV ORV FXDOHV GHEHQ GH SRVHHU
GLIHUHQWHVFDUDFWHUtVWLFDVTXHDVXYH]GHEHQHVWDUUHODFLRQDGDVFRQHOSXHVWR
D GHVHPSHxDU SDUD HOOR VH GHEHQ GHVDUUROODU WRGDV DTXHOODV DFFLRQHV
QHFHVDULDV TXH OOHYHQ GH XQD IRUPD PiV HILFD] D OD HVFRJHQFLD GH ODV
SHUVRQDVPiVLGyQHDVDOSXHVWRYDFDQWH
3RVWHULRUPHQWH DO SURFHVR GH UHFOXWDPLHQWR VH UHDOL]D OD VHOHFFLyQ GH
SHUVRQDO XQ DGHFXDGR UHFOXWDPLHQWR SHUPLWH REWHQHU ORV FDQGLGDWRV
DGHFXDGRVSDUDLQLFLDUpVWDIDVHGHXQDIRUPDPiVHIHFWLYDSRUHMHPSOR0DUWD
$OOHVPHQFLRQDTXHFXDQGRHOSURFHVRVHUHDOL]DHQXQDIRUPDVHQFLOOD
FRUWD\GLUHFWDPHQWHOLJDGRDODVFDUDFWHUtVWLFDVGHODHPSUHVDVHSXHGHKDEODU
XQSURFHVRGHVHOHFFLyQH[LWRVR
3DUDHODXWRU*DU\'HVVHOHUODLPSRUWDQFLDGHOSURFHVRGHVHOHFFLyQ
UDGLFDSULQFLSDOPHQWHHQWUHVDVSHFWRV(OSULPHURGHHOORVHVTXHDWUDYpVGH
XQD EXHQD VHOHFFLyQ GHO SHUVRQDO OD RUJDQL]DFLyQ VH YHUi EHQHILFLDGD 8QD
LQFRUUHFWDVHOHFFLyQVHYHUiUHIOHMDGDHQLQFRQYHQLHQWHVDQLYHORUJDQL]DFLRQDO
TXHSRGUtDQDIHFWDUHOGHVHPSHxRRUJDQL]DFLRQDOHQJHQHUDO
&RPR VHJXQGR SXQWR UHDOL]DU XQ DGHFXDGR SURFHVR GH VHOHFFLyQ HV
LPSRUWDQWHGHELGRDOFRVWRTXHHOPLVPRJHQHUDHVGHFLUXQDFHUWDGRSURFHVR
UHSUHVHQWD XQD LQYHUVLyQ SRVLWLYD SDUD OD HPSUHVD SHUR FRQWUDULDPHQWH XQD
PDODVHOHFFLyQVHYHUHIOHMDGDHPSUHVDULDOPHQWHFRPRXQDSpUGLGDHFRQyPLFD
LPSRUWDQWH
'DGRTXHODVHOHFFLyQGHOSHUVRQDOHVYLVWDFRPRXQWUDEDMRDPSOLRTXHVH
GLYLGH HQ GLIHUHQWHV HWDSDV TXH SHUPLWHQ UHDOL]DU XQD HVSHFLH GH ³ILOWUDFLyQ´
HQWUHWRGRVORVSRVLEOHVFDQGLGDWRVKDVWDTXHVHORJUHWHQHUXQ~OWLPRJUXSRpO
FXDO KD GH UHSUHVHQWDU ORV FDQGLGDWRV PiV IXHUWHV DO SXHVWR HV LPSRUWDQWH
GHVFULELUORVPRPHQWRVTXHFRQIRUPDQHVWHSURFHVR
0DUWKD $OOpV SURSRQH ODV VLJXLHQWHV HWDSDV SDUD VHOHFFLRQDU D ORV
FDQGLGDWRVLGyQHRVSDUDODVSRVLFLRQHVYDFDQWHV
'HILQLFLyQ GHO SHUILO GHO SXHVWR HVWDEOHFHU ODV WDUHDV IXQFLRQHV
UHVSRQVDELOLGDGHV \ UHTXHULPLHQWRV TXH VH YDQ D QHFHVLWDU SDUD VDWLVIDFHU
ODVQHFHVLGDGHVSURSLDVGHXQGHWHUPLQDGRVHFWRUGHODRUJDQL]DFLyQ
,GHQWLILFDFLyQ GH PpWRGRV SDUD OD LGHQWLILFDFLyQ GH FDQGLGDWRV 6H
HVWDEOHFHQ GH DFXHUGR D ODV FDUDFWHUtVWLFDV GHO SXHVWR \ DO Q~PHUR
QHFHVDULR GH SRVLEOHV FDQGLGDWRV TXH VH GHWHUPLQH &RP~QPHQWH H[LVWHQ
YDULDVIXHQWHVRPpWRGRVXWLOL]DGRVSDUDLGHQWLILFDUORVFDQGLGDWRV
x )XHQWHVSURSLDVGHQWURGHODPLVPDHPSUHVD
x 2ILFLQDVGHHPSOHR
x $QXQFLRVHQSUHQVDR,QWHUQHW
x &HQWURVGHHQVHxDQ]D
x (PSUHVDVGHVHOHFFLyQ\E~VTXHGDGLUHFWD
x (PSUHVDVGHWUDEDMRWHPSRUDO
(QWUHYLVWDV HV HO UHFXUVR FRQ PiV IUHFXHQFLD XWLOL]DGR HQ HO SURFHVR GH
VHOHFFLyQPXFKDVYHFHVUHVXOWDFHQWUDO\GHILQLWRULD0HGLDQWHODHQWUHYLVWD
ϭϭ
x
x
x
x
VHSXHGHREWHQHULQIRUPDFLyQQRVRORGHFDUDFWHUtVWLFDVSHUVRQDOHVVLQRGH
KDELOLGDGHV H[SHULHQFLD \ RWURV D ILQ GHGHWHUPLQDUDILQLGDGHV FRQ HO SHUILO
EXVFDGR
3UXHEDV VH SXHGHQ XWLOL]DU OD DSOLFDFLyQ GH SUXHEDV FRQ HO ILQ GH UHIRU]DU
DVSHFWRVTXHQRVHSXHGHQHYDOXDUHQODVHQWUHYLVWDVRELHQTXHQHFHVLWDQ
VHUFRPSUREDGDV/DVSUXHEDVSXHGHQVHU
3UXHEDVGHFRQRFLPLHQWR
3UXHEDVSVLFRPpWULFDV
3UXHEDVGHSHUVRQDOLGDG
7pFQLFDVGHVLPXODFLyQ
3UHVHQWDFLyQ GH ORV ILQDOLVWDV /XHJR GH LGHQWLILFDU DTXHOODV SHUVRQDV TXH
PiV FDUDFWHUtVWLFDV FRPXQHV WHQJDQ FRQ HO SXHVWR VHJ~Q OR PHQFLRQD
2OOHURVVHGHWHUPLQDXQJUXSRGHILQDOLVWDVORVFXDOHVVRQSUHVHQWDGRVDO
MHIHGLUHFWRGHOSXHVWREULQGiQGROHWRGDVODVUD]RQHVSRUODVTXHFDGDXQR
GHHOORVKDVLGRFRQVLGHUDGRGHQWURGHpVWHJUXSRILQDO/DHVFRJHQFLDILQDO
ODUHDOL]DHOIXWXURMHIHHQEDVHDORVFULWHULRVGHWHUPLQDGRVSRUODHPSUHVD
3RUORJHQHUDOODVRUJDQL]DFLRQHVHVWDEOHFHQFXDOHVYDQDVHUORVPpWRGRV
\SURFHGLPLHQWRVGHUHFOXWDPLHQWR\VHOHFFLyQHQIXQFLyQGHODVQHFHVLGDGHV\
GHODXUJHQFLDHQODVTXHHVWDVGHEDQGHVDWLVIDFHUVHSHURHQODDFWXDOLGDGOD
PD\RUtD GH ODV RUJDQL]DFLRQHV IXQGDPHQWDQ VXV SURFHVRV GH UHFOXWDPLHQWR \
VHOHFFLyQ HQ HO HQIRTXH GH FRPSHWHQFLDV \D TXH pVWH OHV SHUPLWH UHFOXWDU \
VHOHFFLRQDU DTXHOORV FDQGLGDWRV TXH WLHQHQ ODV FRPSHWHQFLDV HQ HO QLYHO
UHTXHULGR SDUD GHVHPSHxDU GHWHUPLQDGR SXHVWR GHMDQGR GH ODGR WRGRV
DTXHOORV IDFWRUHV TXH VH SXHGHQ FRQYHUWLU HQ GLVWUDFWRUHV \ SRU HQGH YLFLDU OD
FRQWUDWDFLyQ
3DUD%R\DW]LVFLWDGRSRU2OJD%HQDYLGHVSODVFRPSHWHQFLDVVRQ
³ODV FDUDFWHUtVWLFDV IXQGDPHQWDOHV GH XQD SHUVRQD pVWDV SXHGHQ VHU XQ
PRWLYRXQDKDELOLGDGXQUDVJRXQDGHVWUH]DXQDVSHFWRGHODXWRFRQFHSWRR
IXQFLyQ VRFLDO R XQ FRQMXQWR GH FRQRFLPLHQWRV XVDGRV SRU OD SHUVRQD´ (V
GHFLUVHHVWiQWRPDQGRHOHPHQWRVLQWDQJLEOHVGHODSHUVRQDOLGDGFRJQLWLYRV\
DSOLFDEOHVVRFLDOPHQWH3RUORTXHVHSXHGHFRQFOXLUTXHODVFRPSHWHQFLDVVRQ
³FRQMXQWRV GH SDWURQHV GH FRQGXFWD TXH OD SHUVRQD GHEH OOHYDU D XQ FDUJR
SDUDUHQGLUHILFLHQWHPHQWHHQVXVWDUHDV\IXQFLRQHV´
2WUDGHILQLFLyQHVODTXHRIUHFH0DUWKD$OOHVSSDUDODDXWRUD
HO FRQFHSWR GH FRPSHWHQFLDV HV ³XQ PRGHOR FRQFLVR ILDEOH \ YDOLGR SDUD
SUHGHFLU HO p[LWR HQ HO SXHVWR /DV FRPSHWHQFLDV HVWiQ HVWUHFKDPHQWH
UHODFLRQDGDV FRQ OD HVWUXFWXUD OD HVWUDWHJLD \ OD FXOWXUD GH OD HPSUHVD H
LPSOLFDQ ODV FDUDFWHUtVWLFDV SHUVRQDOHV FDXVDOPHQWH OLJDGDV D UHVXOWDGRV
VXSHULRUHVHQHOSXHVWR´SRURWURODGRODDXWRUDKDFHUHIHUHQFLDD³XQDVHULH
GH DWULEXWRV FRQRFLPLHQWRV DGTXLULGRV R LQQDWRV TXH GHILQHQ VXV
FRPSHWHQFLDVSDUDXQDFLHUWDDFWLYLGDG´
3DUWLHQGRGHDPERVFRQFHSWRVVHSXHGHFRQFOXLUTXHODVFRPSHWHQFLDVVRQ
FDUDFWHUtVWLFDV IXQGDPHQWDOHV TXH SRVHHQ ORV VXMHWRV TXH VH SXHGHQ LU
GHVDUUROODQGRDORODUJRGHODYLGDHQIXQFLyQGHODVH[SHULHQFLDV\TXHEULQGDQ
ϭϮ
FULWHULRV SDUD REWHQHU \ HYDOXDU UHQGLPLHQWRV HILFDFHV \R VXSHULRUHV HQ XQ
WUDEDMRRXQDVLWXDFLyQFRQFUHWD
(O UHFRQRFHU ODV FRPSHWHQFLDV FRPR UDVJRV FRQGXFWXDOHV TXH YDQ D
GHWHUPLQDUHOGHVHPSHxRGHORVFRODERUDGRUHVHQVXVUHVSHFWLYDVIXQFLRQHV\
TXH YDQ D WRPDUVH FRPR HO SXQWR GH SDUWLGD SDUD HVWDEOHFHU FULWHULRV GH
VHOHFFLyQ LQLFLDOPHQWH SXHGH LQWHUSUHWDUVH FRPR PDQHUD GH GLVFULPLQDFLyQ
SXHV ORV FDQGLGDWRV VH UHGXFHQ D VROR ODV KDELOLGDGHV \ SUHSDUDFLyQ TXH
FXHQWHQSDUDGHVHPSHxDUGHWHUPLQDGDVWDUHDVGHMDQGRGHODGRDVSHFWRVWDOHV
FRPRVXJpQHURJUXSRpWQLFRRULHQWDFLyQVH[XDOHQWUHRWUDVSHURHOKHFKRGH
QR VHU WRPDGDV HQ FXHQWD SHUPLWHQ EDVDUVH HQ FULWHULRV PDV REMHWLYRV \
GLVPLQX\HODSRVLELOLGDGGHVHVJRVDODKRUDGHGHFLGLUDOFRODERUDGRULGyQHR
$SDUWH GH OD XWLOL]DFLyQ GHO PRGHOR SRU FRPSHWHQFLDV SDUD HVWDEOHFHU
SDUiPHWURVGHFRQWUDWDFLyQPiVREMHWLYRV DOIXQGDPHQWDUFULWHULRV GH HOHFFLyQ
EDVDGRV HQ KDELOLGDGHV \ HO QLYHO GH GHVDUUROOR GH ODV PLVPDV ODV LQVWDQFLDV
RUJDQL]DFLRQDOHV HQFDUJDGDV GH YHODU SRU OD DGHFXDGD LPSOHPHQWDFLyQ \ HO
VDWLVIDFWRULR GHVDUUROOR GH OD JHVWLyQ GH OD GLYHUVLGDG HQ ORV SURFHVRV GH
UHFOXWDPLHQWR \ VHOHFFLyQ GHEHQ GH LQFOXLU GHQWUR GH ORV SDUiPHWURV GH
HYDOXDFLyQ ORV REMHWLYRV \ HVWiQGDUHV GH GHVHPSHxR TXH TXLHUHQ DOFDQ]DU
DVtFRPRORVSURFHGLPLHQWRVDVHJXLUSDUDLGHQWLILFDUGHILFLHQFLDV\FRUUHJLUODV
/DVXQLGDGHVHQFDUJDGDVGHORVSURFHVRVGHGHVDUUROORRUJDQL]DFLRQDOVRQ
ODVTXHWLHQHQODUHVSRQVDELOLGDGGHHVWDEOHFHUUHVSDOGiQGRVHHQORVSULQFLSLRV
ILORVyILFRV GH OD FXOWXUD ODV FRPSHWHQFLDV QHFHVDULDV SDUD GDUOH VRSRUWH D OD
HPSUHVD SRVWHULRUPHQWH GHEHQ GH LPSOHPHQWDU HVWUDWHJLDV HQFDPLQDGDV D
TXH ORV FRODERUDGRUHV ODV GHVDUUROOHQ HQ SURSRUFLyQ D VXV WDUHDV \ D ORV
UHTXHULPLHQWRV GHOQHJRFLR8QEXHQSODQWHDPLHQWR GHODVFRPSHWHQFLDVYDD
SURPRYHU OD FRQVWUXFFLyQ GH LQLFLDWLYDV HQIRFDGDV DO IRUWDOHFLPLHQWR GH OD
FXOWXUDORVHVTXHPDVFRPXQLFDFLRQDOHVORVYDORUHV\ORVSULQFLSLRVTXHULJHQ
HO IXQFLRQDPLHQWR GH OD RUJDQL]DFLyQ SRU OR TXH WDPELpQ SXHGHQ OOHJDU D
IDFLOLWDU ORV SURFHVRV GH FDPELR SDUD XQD DGHFXDGD \ HIHFWLYD JHVWLyQ GH OD
GLYHUVLGDG
/D JHVWLyQ GH OD GLYHUVLGDG KD VLJQLILFDGR D QLYHO RUJDQL]DFLRQDO XQ
UHLQJHQLHUtD GH ODV IXQFLRQHV WUDGLFLRQDOHV GH ORV GHSDUWDPHQWRV GH UHFXUVRV
KXPDQRV ODV FXDOHV DQWH OD GHPDQGD SURSLD GH ORV DFHOHUDGRV FDPELRV
SURSLRV GH OD JOREDOL]DFLyQ \ GH ORV DYDQFHV WHFQROyJLFRV KDQ GHMDGR GH VHU
XQD RILFLQD GHVWLQDGD D WRGRV ORV WUiPLWHV SURSLRV GH ORV WUDEDMDGRUHV SDUD
FRQYHUWLUVH HQ XQ HQWH FX\R REMHWLYR SULPRUGLDO HV HO GHVDUUROOR GHO WDOHQWR
KXPDQRYDORUDQGRDORVFRODERUDGRUHVGHVGHXQDSHUVSHFWLYDLQWHJUDO
7RPDQGR GH EDVH ORV HOHPHQWRV DQDOL]DGRV FRQ DQWHULRULGDG VH SXHGH
FRQFOXLU TXH HQ OD DFWXDOLGDG OD FRPSRVLFLyQ GH OD SDUWH KXPDQD GH ODV
RUJDQL]DFLRQHVHVWiUHIOHMDQGRXQDPD\RUKHWHURJHQHLGDGUHSUHVHQWDWLYDGHOD
SREODFLyQ PXQGLDO OD GLYHUVLGDG GH ODIXHU]DGHWUDEDMR HVWi KDFLHQGR TXHVH
LQFRUSRUHQ SHUVRQDV FRQ KDELOLGDGHV H[SHULHQFLDV \ SXQWRV GH YLVWD TXH
DQWHULRUPHQWHHUDQH[FOXLGDVRVXEXWLOL]DGDV
3DUD TXH VH Gp XQD PHMRUD GH ODV UHODFLRQHV WUDQVFXOWXUDOHV WDQWR HQWUH
RUJDQL]DFLRQHV FRPR HQWUH FRODERUDGRUHV VH GHEH GH UHVSHWDU \ VDFDU
SURYHFKRGHODVGLIHUHQFLDVFXOWXUDOHVHLQGLYLGXDOHVFRQHOILQGHTXHWRGDVODV
ϭϯ
SHUVRQDV FRQ VXV GLYHUVRV DQWHFHGHQWHV FXOWXUDOHV SXHGDQ ORJUDU XQ RSWLPR
GHVDUUROORHQVXDSRUWHDOORJURGHORVREMHWLYRVRUJDQL]DFLRQDOHVVLQTXHVHOHV
OLPLWHSRUVXVH[RQDFLRQDOLGDGFUHHQFLDVUHOLJLRVDVJUXSRpWQLFRSUHIHUHQFLD
VH[XDOHQWUHRWURV
(VWLPXODUOD*HVWLyQGHOD'LYHUVLGDGOHD\XGDDODRUJDQL]DFLyQDDOFDQ]DU
VXV PHWDV GH UHVSRQVDELOLGDG VRFLDO DGHPiV GH YROYHUVH XQD YHQWDMD
FRPSHWLWLYDDOFRQVHJXLUTXHpVWDIRUPHSDUWHGHODHVWUDWHJLDRUJDQL]DFLRQDO
/RV OLGHUHV GH ODV RUJDQL]DFLRQHV GHEHQ GH SRVHHU ODV FRPSHWHQFLDV
QHFHVDULDV TXH OHV SHUPLWDQ UHODFLRQDUVH FRQ OD JHQWH GH PDQHUD HILFD] \
ORJUHQPRWLYDUORVSURPRYLHQGRHOYDORUGHODVHQVLELOLGDGFXOWXUDO
/D *HVWLyQ GH OD 'LYHUVLGDG SURPXHYH HO GHVDUUROOR GH SROtWLFDV
FRUSRUDWLYDV OD SODQLILFDFLyQ \ HMHFXFLyQ GH SURJUDPDV RULHQWDGRV D FDPELDU
ORV SURFHGLPLHQWRV GH FRPXQLFDFLyQ FRUSRUDWLYD DVt FRPR GH FXOWXUDV
RUJDQL]DFLRQDOHV \ GH PHWDV SDUD PHMRUDU OD SURGXFWLYLGDG GH ORV
FRODERUDGRUHVPHGLDQWHHODSURYHFKDPLHQWRGHVXVGLIHUHQFLDV
/D *HVWLyQ GH OD 'LYHUVLGDG HQ ODV RUJDQL]DFLRQHV SHUPLWH TXH PXFKDV
HPSUHVDVUHYLVHQ\UHHVWUXFWXUHQVXVSURJUDPDVGHHYDOXDFLyQGHGHVHPSHxR
FRQ HO ILQ GH DVHJXUDUVH TXH VXV FRODERUDGRUHV QR HVWiQ VLHQGR HYDOXDGRV
VREUHVXVFDUDFWHUtVWLFDVSHUVRQDOHVVLQRTXHVHHYDO~HQSDUWLHQGRGHOPpULWR
HQVXWUDEDMR
/D *HVWLyQ GH OD 'LYHUVLGDG IDFLOLWD OD LGHQWLILFDFLyQ GH ODV QHFHVLGDGHV GH
ORV FRODERUDGRUHV ORV FOLHQWHV ORV FRQVXPLGRUHV \ HO PHUFDGR HQ JHQHUDO \
SRUHQGHXQDPHMRU\UHDOVDWLVIDFFLyQGHODVPLVPDV
(O GHVDUUROOR GH SURJUDPDV RUJDQL]DFLRQDOHV HQIRFDGRV D XQD HIHFWLYD \
HILFD]JHVWLyQGHODGLYHUVLGDGSURPXHYHHOVHQWLGRGHUHVSRQVDELOLGDGVRFLDO
\D TXH ODV HPSUHVDV VH YXHOYHQ PiV FRQVFLHQWHV GHO LPSDFWR HFRQyPLFR
DPELHQWDO VRFLDO FXOWXUDO \ SROtWLFR HPDQDGR GH VX DFWLYLGDG SURGXFWLYD (VWH
VHQWLGRGHFRQFLHQFLDDGHPiVSXHGHOOHJDUDSURPRYHUODPXWXDFRRSHUDFLyQ
HQWUHHPSUHVDVSDUDFRQWULEXLUHQHOGHVDUUROORGHKHUUDPLHQWDVTXHIDFLOLWHQHO
LQWHUFDPELRGHLQIRUPDFLyQ
/RVSURFHVRVGHUHFOXWDPLHQWR\VHOHFFLyQGHSHUVRQDOWLHQHQFRPRREMHWLYR
LGHQWLILFDU \ FRQWUDWDU D DTXHOORV VXMHWRV TXH FXHQWDQ FRQ ODV KDELOLGDGHV \
FRQRFLPLHQWRVQHFHVDULRVSDUDGHVHPSHxDUGHWHUPLQDGDIXQFLyQSRUORTXHVH
XWLOL]DQPpWRGRVPHGLDQWHORVFXDOHVHVWDVFDUDFWHUtVWLFDVVHDQODVHYDOXDGDV
GHMDQGRGHODGRRWUDVTXHHQHVWHSURFHVRHVSHFtILFRQRVRQLPSRUWDQWHV\D
TXHSRGUtDQJHQHUDUVHVJRV
/D PD\RUtD GH ORV PpWRGRV GH UHFOXWDPLHQWR \ VHOHFFLyQ WUDGLFLRQDOHV TXH
VLJXHQYLJHQWHVHQVXDIiQSRUFHQWUDUVHVRORHQODHYDOXDFLyQGHGHWHUPLQDGD
FDUDFWHUtVWLFDTXHHVQHFHVDULDSDUDGHVHPSHxDUXQDIXQFLyQGHMDQSRUIXHUD
SRU DVSHFWRV GH WUDVFHQGHQWDO LPSRUWDQFLD \ TXH YDQ D WHQHU XQD LQIOXHQFLD
LPSRUWDQWHHQHOUHQGLPLHQWRVGHORVVXMHWRVDODKRUDGHVRPHWHUVHDHOORVSRU
HMHPSOR Vt ODV SUXHEDV DSOLFDGDV \D HVWiQ YDOLGDGDV DO FRQWH[WR Vt ODV
VLWXDFLRQHVSUHVHQWDGDVVRQSURSLDVGHODFRWLGLDQLGDGGHORVHYDOXDGRVRVtVH
ϭϰ
WRPDQ HQ FXHQWDQ ODV FRQGLFLRQHV DIHFWLYDV HPRFLRQHV \ HVWDGRV GH iQLPR
GHORVSDUWLFLSDQWHV\GHORVHQFDUJDGRVGHGLFKRVSURFHVRV
/DV RUJDQL]DFLRQHV GHEHQ GH SUHRFXSDUVH SRU HQWUHQDU HQ JHVWLyQ GH OD
GLYHUVLGDG DORV SURIHVLRQDOHV HQFDUJDGRV GH ORV SURFHVRV GHUHFOXWDPLHQWR \
VHOHFFLyQ SURFXUDQGR HO XVR GH SDUDGLJPDV DFWXDOHV FRQ HO ILQ GH TXH pVWRV
SXHGDQ VHU REMHWLYRV \ QR EDVHQ VXV GHFLVLRQHV HQ FULWHULRV SUHMXLFLDGRV
ORJUDQGR OD LPSOHPHQWDFLyQ GH HVWUDWHJLDV SDUD REWHQHU SHUILOHV FODURV \ TXH
UHVSRQGDQDODVQHFHVLGDGHVGHODHPSUHVD
/D LQFOXVLyQ GH FULWHULRV GH GLYHUVLGDG HQ ORV PpWRGRV \ WpFQLFDV GH
UHFOXWDPLHQWR \ VHOHFFLyQ GH SHUVRQDO SHUPLWH TXH VH FRQVLGHUHQ ODV
FRPSHWHQFLDV GH ODV SHUVRQDV FRPR YDULDEOH IXQGDPHQWDO SDUD GHWHUPLQDU HO
p[LWRODERUDO\GHHVWDPDQHUDQRUHFXUULUDODVFDUDFWHUtVWLFDVGHOSXHVWRFRPR
HO~QLFRFULWHULRSDUDPHGLUHOGHVHPSHxRHQHOWUDEDMR
(OPRGHORGHFRPSHWHQFLDVSXHGHOOHJDUDVHUXQDKHUUDPLHQWDGHHQRUPH
XWLOLGDGSDUDOD*HVWLyQGHOD'LYHUVLGDG(VWHHQIRTXHIDFLOLWDODLQWHUUHODFLyQGH
ORV GLIHUHQWHV SURFHVRV GHO iUHD 6HOHFFLyQ ,QGXFFLyQ (YDOXDFLyQ
&DSDFLWDFLyQ 'HVDUUROOR &RPSHQVDFLRQHV 'HVYLQFXODFLyQ SRVLELOLWDQGR
UHDOL]DU VX JHVWLyQ GH PDQHUD LQWHJUDGD JUDFLDV D FRPSDUWLU XQD IXHQWH GH
LQIRUPDFLyQOLJDGDDODVUHVSRQVDELOLGDGHVGHORVFDUJRV\DXQOHQJXDMHFRP~Q
DODEDVH
$ SHVDU GH TXH HO HQIRTXH GH VHOHFFLyQ SRU FRPSHWHQFLDV WLHQH FRPR
REMHWLYR OD FRQWUDWDFLyQ GHO FRODERUDGRU TXH UH~QD FRQGLFLRQHV HVSHFtILFDV
SDUD GHVHPSHxDU IXQFLRQHV GHWHUPLQDGDV GHMDQGR GH ODGR RWUDV
FDUDFWHUtVWLFDV HVWH QR HV H[FOXVLYR SXHV ODV FRPSHWHQFLDV HVWiQ
FRQIRUPDGDV SRU ORV LQWHUHVHV TXH KDFHQ TXH XQD SHUVRQD WRPH XQD X RWUD
GHFLVLyQ ODV UHVSXHVWDV ItVLFDV DQWH GLVWLQWDV VLWXDFLRQHV ODV DFWLWXGHV \
YDORUHV TXH WLHQHQ ODV SHUVRQDV DFHUFD GH Vt PLVPDV ODV FDSDFLGDGHV SDUD
UHDOL]DU\ORJUDUXQySWLPRGHVHPSHxRHQGHWHUPLQDGDWDUHDVLQGHMDUGHODGR
TXHODFXOWXUDWDPELpQYDDGHILQLUHOp[LWRRQRGHXQFRODERUDGRU
9
5HIHUHQFLDV%LEOLRJUiILFDV
$GOHU 5 0DUTXDUGW - &RPXQLFDFLyQ 2UJDQL]DFLRQDO 0p[LFR ')
0F*UDZ+LOO
$OOHV 0 'LUHFFLyQ (VWUDWpJLFD GH 5HFXUVRV +XPDQRV *HVWLyQ SRU
FRPSHWHQFLDV%XHQRV$LUHV*UDQLFD6$
%DUTXHUR$$GPLQLVWUDFLyQGH5HFXUVRV+XPDQRV6DQ-RVp(81('
%HQDYLGHV2&RPSHWHQFLDV\&RPSHWLWLYLGDG%RJRWi0F*UDZ+LOO
%UX\3UH 6 +R\LQJ - VI/D 'LYHUVLGDG &XOWXUDO \ HO $'$ 5HFXSHUDGR HO
GHVHSWLHPEUHGHGHKWWSZZZGOUSRUJKWPOSXEOLFDWLRQV6SDQLVK
GLYHUVLGDGFXOWXUDOKWPO
&KLDYHQDWR,*HVWLyQGHO7DOHQWR+XPDQR%RJRWi0F*UDZ+LOO
ϭϱ
'HVVOHU*$GPLQLVWUDFLyQGH3HUVRQDO0DGULG0F*UDZ+LOO
*LEVRQ - 2UJDQL]DFLRQHV &RPSRUWDPLHQWR (VWUXFWXUD 3URFHVRV
0H[LFR')0F*UDZ+LOO
+LOO 6 7HQGHQFLDV HQ VHJXQGRV 5HFXSHUDGR HO GH MXOLR GH
GH KWWSFRPXQLGDGXDFKP[UDUUR\RUHVXPHQHVB7HQGHQFLDVHQ
0LQXWRVSGI
.LP:0DXERXUJQH5/D(VWUDWHJLDGHO2FpDQR$]XO5HFXSHUDGR
HO GH MXOLR GH KWWSZZZXSDFLILFRHGXHF$UFKLYRV(VWUDWHJLDB
RFHDQRBD]XOSGI
0RUD&(PSUHVDV\3OXULFXOWXUDOLVPR5HFXSHUDGRHOGHVHSWLHPEUH
GH GH KWWSZZZJHVWLRSROLVFRPDGPLQLVWUDFLRQHVWUDWHJLDHPSUHVDV
SOXULFXOWXUDOLVPR\VXDOFDQFHKWP
0RVFRYLFL63VLFRORJtD6RFLDO,,%DUFHORQD3DLGRV
5REELQV 6 &RPSRUWDPLHQWR 2UJDQL]DFLRQDO 0p[LFR ') 3HDUVRQ
3UHQWLFH+DOO,QF
6RVD0'LYHUVLGDG*OREDO\&XOWXUDO5HFXSHUDGRHOGHVHSWLHPEUH
GH GH KWWSZZZJHVWLRSROLVFRPUHFXUVRVGRFXPHQWRVIXOOGRFVUUKK
UUKKPDULDQRKWP
8PDxD ( 3UiFWLFDV 2UJDQL]DFLRQDOHV \ 7pFQLFDV GH (QWUHYLVWD HQ OD
*HVWLyQGHO3RWHQFLDO+XPDQR6DQ-RVp(81('
9LOODORERV $ (YDOXDFLyQ GH &RPSHWHQFLDV SDUD HIHFWRV GH VHOHFFLyQ
ODERUDOPHGLDQWHODHQWUHYLVWDFRQGXFWXDO6DQ-RVp(GLWRULDOGHOD8QLYHUVLGDG
GH&RVWD5LFD
ϭϲ
Descargar