Download as pdf or txt
Download as pdf or txt
You are on page 1of 17

ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ
















7$%/$69$3256$785$'2<
5(&$/(17$'2



 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ












 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ














7$%/$6'(3523,('$'(6'(/$,5(
(1(67$'2'(*$63(5)(&72


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ















81,'$'(6





 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ

6,67(0$'(81,'$'(6

 (O 6LVWHPD /HJDO GH 8QLGDGHV GH 0HGLGD REOLJDWRULR HQ (VSDxD HV HO VLVWHPD
PpWULFR GHFLPDO FRQ VLHWH XQLGDGHV EiVLFDV GHQRPLQDGR 6LVWHPD ,QWHUQDFLRQDO GH
8QLGDGHV 6, )XpDGRSWDGRSRUOD&RQIHUHQFLD*HQHUDOGH3HVDV \0HGLGDV \HVHO
YLJHQWHHQOD8QLyQ(XURSHD$FRQWLQXDFLyQVHH[SRQHHOUHVXPHQGHVXVDVSHFWRVPiV
LPSRUWDQWHV

81,'$'(6%È6,&$6'(/6,
0$*1,78' 81,'$'
120%5( 6Ë0%2/2 120%5( 6Ë0%2/2
/21*,78' / PHWUR P
0$6$ P NLORJUDPR NJ
7,(032 W VHJXQGR V
,17(16,'$''(
&255,(17( ,L DPSHUH±DPSHULR $
(/e&75,&$
7(03(5$785$
7 .HOYLQ .
7(502',1È0,&$
&$17,'$''(
P PRO PRO
6867$1&,$
,17(16,'$'
F FDQGHOD FG
/80,126$


81,'$'(6683/(0(17$5,$6'(/6,
0$*1,78' 81,'$'
120%5( 6Ë0%2/2 120%5( 6Ë0%2/2
È1*8/23/$12 ∝ UDGLiQ UDG
È1*8/26Ï/,'2 φ HVWHUHRUUDGLiQ VU

 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


81,'$'(6'(/6,'(5,9$'$6(;35(6$'$6$3$57,5'(/$6%È6,&$6
<683/(0(17$5,$6'(/6,
0$*1,78' 81,'$'
120%5( 6Ë0%2/2 120%5( 6Ë0%2/2
683(5),&,( 6 PHWURFXDGUDGR P
92/80(1 9 PHWURF~ELFR P 
9(/2&,'$'
Y PHWURSRUVHJXQGR PV
/,1($/
PHWURSRUVHJXQGR
$&(/(5$&,Ï1 D PV
FXDGUDGR
0$6$(181
NLORJUDPRSRUPHWUR
92/80(1 G NJP
F~ELFR
'(16,'$' 
&$8'$/(1 PHWURF~ELFRSRU
4 9W PV
92/80(1 VHJXQGR
NLORJUDPRSRU
&$8'$/0È6,&2 4 PW NJV
VHJXQGR
9(/2&,'$'
ω UDGLiQSRUVHJXQGR UDGV
$1*8/$5
$&(/(5$&,Ï1 UDGLDQSRUVHJXQGR
D UDGV
$1*8/$5 FXDGUDGR



 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


81,'$'(6'(/6,'(5,9$'$6&21120%5(6<6Ë0%2/26
(63(&,$/(6
0$*1,78' 81,'$'
120%5( 6Ë0%2/2 120%5( 6Ë0%2/2
)5(&8(1&,$ ) KHUW]KHUFLR +]
)8(5=$ ) QHZWRQ 1
35(6,Ï17(16,Ï1 3σ SDVFDO 3D
(1(5*Ë$75$%$-2
(±7 MXOLR -
&$17,'$''(&$/25
327(1&,$ 3 ZDWWZDWLR :
&$17,'$''(
FRXORPE
(/(&75,&,'$'&$5*$ 4 &
FXORPELR
(/e&75,&$
7(16,Ï1(/e&75,&$
327(1&,$/(/e&75,&2 9
YROWYROWLR 9
)8(5=$ )HP
(/(&7520275,=
5(6,67(1&,$
5 RKPRKPLR Ω
(/e&75,&$
&21'8&7$1&,$
δ VLHPHQV 6
(/e&75,&$
&$3$&,'$'(/e&75,&$ & IDUDGIDUDGLR )
)/8-20$*1e7,&2 φ ZHEHUZHEHULR :E
'(16,'$''()/8-2
Gφ WHVOD 7
0$*1e7,&2
,1'8&7$1&,$ / KHQU\ +
)/8-2/80,1262 φ OXPHQ OP
,/80,1$1&,$ / OX[ O[
$&7,9,'$'5$',$&7,9$ $5 EHFTXHUHO %T

 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


275$681,'$'(6
0$*1,78' 81,'$'
120%5( 120%5( 6Ë0%2/2 5(/$&,Ï1
YXHOWD  YXHOWD πUDG
È1*8/23/$12
JUDGR ž ž πUDG
PLQXWR PLQ PLQ V
7,(032 KRUD K K V
GtD G G V

 /DV OHWUDV XWLOL]DGDV HQ DOJXQR GH ORV FXDGURV DQWHULRUHV SDUD UHSUHVHQWDU HO
VtPERORGHODPDJQLWXGQRHVWiQQRUPDOL]DGDV6HKDQVHOHFFLRQDGRHQFDGDFDVRODV
PiVXVXDOHVHQODELEOLRJUDItD

 /RVVtPERORVGHODVXQLGDGHVQRYDQVHJXLGRVGHSXQWRQLVHOHVSRQHXQD³V´DO
ILQDOFXDQGRYDQHQSOXUDO

 /RV QRPEUHV GHODVXQLGDGHVWRPDQXQD³V´DOILQDOSDUDIRUPDUHOSOXUDOVDOYR
TXH WHUPLQHQ HQ V [ R ] &XDQGR VRQ GHELGRV D QRPEUHV SURSLRV VH HVFULEHQ FRQ
PLQ~VFXODLQLFLDO

 (VWDVXQLGDGHVGHPHGLGDYLHQHQUHFRJLGDVHQHO 5HDO'HFUHWRGH
GHRFWXEUH%2(GHGHQRYLHPEUHGHO

 $OJXQDVXQLGDGHVTXHVHVLJXHQD~QXWLOL]DQGRHQODWpFQLFDLQGXVWULDO\TXHQR
HVWiQUHFRJLGDVHQHVWHGHFUHWRSRUORTXHVHXVDQFDGDYH]PHQRVVRQ

275$681,'$'(6$8725,=$'$6
0$*1,78' 81,'$'
120%5( 120%5( 6Ë0%2/2 5(/$&,Ï1
92/80(1 OLWUR OR/ / GP P
0$6$ WRQHODGD W W 0J NJ
35(6,Ï1 EDU EDU 3DVFDO



0Ò/7,3/26<68%0Ò/7,3/26
)$&725 35(),-2 6Ë0%2/2 )$&725 35(),-2 6Ë0%2/2
 H[D (  GHFL G

  SHWD 3  FHQWL F
 
  WHUD 7   PLOL P
 JLJD *  PLFUR µ
 PHJD 0  QDQR Q
 NLOR N  SLFR S
 KHFWR K  IHPWR I
 GHFD GD  DWWR D




 
ƒ—ƒŽ†‡’”‘„Ž‡ƒ•†‡ž“—‹ƒ•›‘–‘”‡•±”‹…‘•Ǧ ‰‡‹‡”Àƒ‡…ž‹…ƒ  ȏʹͲͳʹȐ


120%5( 6Ë0%2/2 (48,9$/(1&,$(1(/6,
NLORJUDPRIXHU]DR
NJIRNS 1
NLORSRQGLR
DWPyVIHUDItVLFD DWP Â3D
FDORUtD FDO -
FDEDOORGHYDSRU &9 :
iUHD D P


 'HO DOIDEHWR JULHJR VH XWLOL]DQ FRUULHQWHPHQWH DOJXQDV GH VXV OHWUDV SDUD
UHSUHVHQWDUPDJQLWXGHV

120%5( 6,*12 120%5( 6,*12 120%5( 6,*12
 0D\~VFXOD 0LQ~VFXOD  0D\~VFXOD 0LQ~VFXOD  0D\~VFXOD 0LQ~VFXOD
DOID Α α LRWD Ι ι UKR Ρ ρ
EHWD Β β NDSSD Κ κ VLJPD Σ σς
JDPPD Γ γ ODPEGD Λ λ WDX Τ τ
GHOWD ∆ δ PX Μ µ tSVLORQ Υ υ
pSVLORQ Ε ε QX Ν ν IL Φ φϕ
WVHWD Ζ ζ [L Ξ ξ ML FKL  Χ χ
HWD Η η yPLFURQ Ο ο SVL Ψ ψ
]LWD Θ θ SL Π π RPHJD Ω ω





 

You might also like