Professional Documents
Culture Documents
3URFDULRWDV 3UiFWLFDPHQWH WRGR HO $'1 H[LVWH HQ IRUPD GH FRSLD ~QLFD \ FRGLILFD
SURGXFWRV JpQLFRV SURWHtQDV \$51V
3DUD HO HVWXGLR GH OD FRPSOHMLGDG GHO JHQRPD pVWH SXHGH GLYLGLUVH HQ GLVWLQWDV
FDWHJRUtDV GH$'1HQIXQFLyQ GHVX UHSHWLWLYLGDG \VX FDUiFWHU FRGLILFDQWH
$'1GHFRSLD ~QLFDVLPSOHRQRUHSHWLWLYR
&RQVWLWX\H OD PD\RU SDUWH GHO JHQRPD HQ SURFDULRWDV HQ HXFDULRWDV
LQIHULRUHVHQDQLPDOHV VXSHULRUHV
3DUWH GH HVWH $'1 FRQVWLWX\H ODV VHFXHQFLDV GH JHQHV TXH FRGLILFDQ
SURWHtQDV \$51VRWUD SDUWH HV UHVSRQVDEOHV GHOFRQWURO GHODH[SUHVLyQ GH
HVDV VHFXHQFLDV PLHQWUDV TXH HO UHVWR PD\RULWDULR HV $'1 QR FRGLILFDQWH FX\D
IXQFLyQVL H[LVWHDSHQDV VHFRQRFH
$'1UHSHWLWLYR
/D VHFXHQFLDV UHSHWLGDV OODPDGDV XQLGDGHV GH UHSHWLFLyQ R UHSHWLFLRQHV WLHQHQ WDPDxRV
GLYHUVRV \FDGD XQD VHHQFXHQWUD GHIRUPDLGpQWLFD RFDVL LQGpQWLFD PXFKDV YHFHV HQHOJHQRPD
6X GLVWULEXFLyQ SXHGH VHU HQ IRUPD GLVSHUVD SRU WRGR HO JHQRPD HQWUHPH]FODGDV FRQ ODV
VHFXHQFLDV GH FRSLD ~QLFD R ELHQ HQ IRUPD DJUXSDGD ORFDOL]DGD HQ UHJLRQHV FRQFUHWDV GHO
FURPRVRPD
(O Q~PHUR GH FRSLDV GH ODV UHSHWLFLRQHV YDUtD GHVGH XQRV FLHQWRV R PLOHV $'1
PRGHUDGDPHQWH UHSHWLWLYRKDVWD FLHQWRV GHPLOHV$'1DOWDPHQWH UHSHWLWLYR
8QD SDUWH GHO$'1UHSHWLWLYR HV FRGLILFDQWH $51RSURWHtQDVLQHPEDUJRSDUD JUDQ SDUWH GHO
PLVPR QRVHFRQRFH XQD IXQFLyQ FODUD6HKDVXJHULGR TXH FRQWULEX\HQ DPDQWHQHU ODHVWUXFWXUD
GH ORV FURPRVRPDV H LQFOXVR TXH SDUWH GHO $'1 UHSHWLWLYR VHD $1' FKDWDUUD XQ YHVWLJLR
HYROXWLYR VLQIXQFLyQ DFWXDO
$'1UHSHWLWLYR FRGLILFDQWH
)RUPDJHQHVTXH VHH[SUHVDQ6XWDPDxR YDUtD HQWUH HO\HOGHOJHQRPD$SDUHFH HQ
IRUPD GH IDPLOLDV GH JHQHV FX\RV PLHPEURV VH FDUDFWHUL]DQ SRU VX KRPRORJtD DO KDEHUVH
RULJLQDGR PHGLDQWH GXSOLFDFLRQHV \YDULDFLRQHV GHXQJHQ DQFHVWUDO
&RPR FRQVHFXHQFLD GH ORV SURFHVRV HYROXWLYRV TXH GDQ OXJDU D IDPLOLDV
PXOWLJpQLFDVDSDUHFHQ HQHOODV PLHPEURV FRQFDUDFWHUtVWLFDV GLIHUHQFLDOHV
&RSLDV GH JHQHV YDULDQWHV &RGLILFDQ SURGXFWRV JpQLFRV IXQFLRQDOHV SHUR GH FDUDFWHUtVWLFDV
OLJHUDPHQWH GLVWLQWDV
3VHXGRJHQHV6RQFRSLDV LDQFWLYDV GHXQJHQTXH QXQFD VHH[SUHVDQ RELHQQRVRQIXQFLRQDOHV
*HQHVWUXQFDGRV6RQFRSLDV LQFRPSOHWDV GHXQJHQSRU SpUGLGD GHXQD UHJLyQ VLWXDGD HQXQR GHORV
H[WUHPRV R
)UDJPHQWRV GHJHQHV6RORVHFRQVHUYD ODSRUFLyQ GHOLQWHULRUGHODVHFXHQFLD GHOJHQ
6yOR ODV FRSLDV LGpQWLFDV IDPLOLDV FOiVLFDV \ ODV YDULDQWHV FRQGXFHQ D SURGXFWRV JpQLFRV
IXQFLRQDOHVPLHQWUDV TXH ORV SVHXGRJHQHVJHQHVWUXQFDGRV \IUDJPHQWRV GHJHQHVSDUHFHQ
VHHUYHVWLJLRV HYROXWLYRV VLQIXQFLyQ DFWXDO
$'1UHSHWLWLYR QRFRGLILFDQWH
6X WDPDxR SXHGH VHU HQWUH XQ \ GHO $'1 JHQyPLFR WRWDO 6H GLYLGH HQ GRV FDWHJRUtDV (O
PRGHUDGDPHQWH UHSHWLWLYR TXH VH XELFD HQ IRUPD GLVSHUVD \ HO DOWDPHQWH UHSHWLWLYR TXH DGHPiV HV
DJUXSDGR
5(3/,&$&,1'(/$'1
,QLFLR PRQRIRFDO RPXOWLIRFDO
(Q HO FURPRVRPD FLUFXODU ~QLFR GH ORV SURFDULRWDV OD UHSOLFDFLyQ FRPLHQ]D VLHPSUH
HQ XQ SXQWR GHWHUPLQDGR GHQRPLQDGR RULJH RUL& 6H GLFH TXH OD UHSOLFDFLyQ HV
PRQRIRFDO (QFRQVHFXHQFLD SURJUHVD IRUPDQGR GRVKRUTXLOODV GHUHSOLFDFLyQ
(Q HXFDULRWDV OD UHSOLFDFLyQ HV PXOWLIRFDO SXHV HQ FDGD XQR GH ORV FURPRVRPDV
H[LVWHQ P~OWLSOHV RUtJHQHV GHUHSOLFDFLyQ FLHQWRV PLOHVTXH GDQ OXJDU DXQQ~PHUR
GREOH GHKRUTXLOODV
0RQRIRFDO
0XOWLIRFDO
5HSOLFDFLyQ GHO$'1HQSURFDULRWDV
/D DGLFLyQ GH QXFOHyWLFRV VH UHDOL]D VLHPSUH VREUH HO H[WUHPR 2+ OLEUH /D KHEUD
FUHFH SRU VX H[WUHPR \VHGLFHTXH ODVtQWHVLV WUDQVFXUUH HQGLUHFFLyQ
5HSOLVRPD &RPSOHMR PXOWLSURWHLFR TXH YLDMD DVRFLDGR D FDGD KRUTXLOOD \ UHDOL]D OD
UHSOLFDFLyQ
(ORQJDFLyQ
(O DFRUWDPLHQWR GH ODV UHJLRQHV WHORPpULFDV FDOFXODGR HQWUH SE SRU FDGD
GLYLVLyQ FHOXODUHV FRPSHQVDGR PHGLDQWH ODDFFLyQ GHODHQ]LPD WHORPHUDVD TXH DODUJD
ORV WHOyPHUR