Você está na página 1de 8



&DS­WXOR$SDUªQFLDHUHDOLGDGH





([LVWH QR PXQGR DOJXP FRQKHFLPHQWR WmR FHUWR TXH QHQKXP KRPHP UD]RiYHO
SRVVD GHOH GXYLGDU" (VWD TXHVWmR TXH j SULPHLUD YLVWD SRGHULD QmR SDUHFHU
GLItFLO p QD UHDOLGDGH XPD GDV PDLV GLItFHLV TXH SRGHPRV ID]HU 4XDQGR
WLYHUPRVFRPSUHHQGLGRRVREVWiFXORVQDGLUHomRGHXPDUHVSRVWDFODUDHVHJXUD
HVWDUHPRV EHP HQFDPLQKDGRV QR HVWXGR GD ILORVRILD  SRLV D ILORVRILD p
VLPSOHVPHQWH D WHQWDWLYD GH UHVSRQGHU D HVWDV TXHVW}HV IXQGDPHQWDLV QmR GH
XPDIRUPD GHVFXLGDGD H GRJPiWLFD FRPR ID]HPRV QD YLGD FRWLGLDQD HPHVPR
QDVFLrQFLDVPDVGHXPDPDQHLUDFUtWLFDDSyVH[DPLQDUWXGRRTXHWRUQDHVWDV
TXHVW}HV LQWULQFDGDV H DSyV FRPSUHHQGHU WXGR R TXH Ki GH YDJR H FRQIXVR QR
IXQGRGHQRVVDVLGHLDVKDELWXDLV
1D YLGD FRWLGLDQD DGPLWLPRV FRPR FHUWDV PXLWDV FRLVDV TXH GHSRLV GH XP
H[DPH PDLV PLQXFLRVR QRV SDUHFHP WmR FKHLDV GH FRQWUDGLo}HV TXH Vy XP
JUDQGHHVIRUoRGHSHQVDPHQWRQRVSHUPLWHVDEHUHPTXHUHDOPHQWHDFUHGLWDU1D
EXVFD GD FHUWH]D p QDWXUDO FRPHoDU SHODV QRVVDV H[SHULrQFLDV SUHVHQWHV H QXP
FHUWRVHQWLGRQmRKiG~YLGDGHTXHRFRQKHFLPHQWRGHULYDGHODVeSRVVtYHOQR
HQWDQWRTXHTXDOTXHUDILUPDomRDFHUFDGRTXHQRVVDVH[SHULrQFLDVLPHGLDWDVQRV
SHUPLWHP FRQKHFHU HVWHMD HUUDGD 3DUHFHPH TXH HVWRX DJRUD VHQWDGR QXPD
FDGHLUDGLDQWHGHXPDPHVDGHGHWHUPLQDGDIRUPDVREUHDTXDOYHMRIROKDVGH
SDSHO PDQXVFULWDV RX LPSUHVVDV 6H YLUDU D FDEHoD REVHUYDUHL SHOD MDQHOD
HGLItFLRVQXYHQVHR6RO&UHLRTXHR6ROHVWiDXQVFHQWRHFLQTXHQWDPLOK}HV
GHTXLO{PHWURVGD7HUUDTXHpXPJORERLQFDQGHVFHQWHPXLWDVYH]HVPDLRUTXH
D 7HUUD TXH GHYLGR j URWDomR WHUUHVWUH QDVFH WRGDV DV PDQKmV H FRQWLQXDUi
ID]HQGR R PHVPR QR IXWXUR GXUDQWH XP WHPSR LQGHWHUPLQDGR &UHLR TXH VH
TXDOTXHU RXWUD SHVVRD QRUPDO HQWUDU HP PHXV DSRVHQWRV YHUi DV PHVPDV
FDGHLUDVPHVDVOLYURVHSDSpLVTXHHXYHMRHTXHDPHVDTXHYHMRpDPHVPD
PHVDTXHVLQWRSUHVVLRQDGDFRQWUDPHXEUDoR7XGRLVVRSDUHFHWmRHYLGHQWHTXH
QHPYDOHDSHQDVHUPHQFLRQDGRDQmRVHUHPUHVSRVWDDTXHPGXYLGHGHTXH
FRQKHoRDOJXPDFRLVD1mRREVWDQWHWXGRLVWRSRGHVHUSRVWRHPG~YLGDGHXP
PRGRUD]RiYHOHUHTXHUHPVXDWRWDOLGDGHXPDGLVFXVVmRPXLWRFXLGDGRVDDQWHV
TXH SRVVDPRV HVWDU VHJXURV GH TXH R H[SUHVVDPRV GH XPD IRUPD TXH p
FRPSOHWDPHQWHYHUGDGHLUD
3DUDWRUQDUHYLGHQWHVHVWDVGLILFXOGDGHVFRQFHQWUHPRVDDWHQomRQDPHVD3DUDD
YLVWDDPHVDpUHWDQJXODUHVFXUDHEULOKDQWHHQTXDQWRTXHSDUDRWDWRHODpOLVD
IULDHGXUDTXDQGRDSHUFXWRSURGX]XPVRPGHPDGHLUD4XDOTXHUSHVVRDTXHD
YHMDVLQWDHRXoDRVHXVRPHVWDUiGHDFRUGRFRPHVWDGHVFULomRGHWDOPRGR
TXHSDUHFHTXHQmRH[LVWHDTXLGLILFXOGDGHDOJXPDSRUpPDSDUWLUGRPRPHQWR
HPTXHWHQWDUPRVVHUPDLVSUHFLVRVFRPHoDUmRRVQRVVRVSUREOHPDV(PERUDHX
DFUHGLWHTXHDPHVDp³UHDOPHQWH´GDPHVPDFRUHPWRGDVXDH[WHQVmRDVSDUWHV
TXHUHIOHWHPDOX]SDUHFHPPXLWRPDLVEULOKDQWHVTXHDVRXWUDVSDUWHVHDOJXPDV
SDUWHV GHYLGR DR UHIOH[R SDUHFHP EUDQFDV 6HL TXH VH PH GHVORFDU DV SDUWHV
TXH UHIOHWLUmR D OX] QmR VHUmR DV PHVPDV GH PRGR TXH D GLVWULEXLomR DSDUHQWH
GDV FRUHV QD VXSHUItFLH GD PHVD PXGDUi 3RU FRQVHJXLQWH VH YiULDV SHVVRDV
FRQWHPSODUHP D PHVD QR PHVPR PRPHQWR QHQKXPD GHODV YHUi H[DWDPHQWH D
PHVPD GLVWULEXLomR GH FRUHV SRUTXH QHQKXPD GHODV SRGH YrOD H[DWDPHQWH GR
PHVPR SRQWR GH YLVWD H TXDOTXHU PXGDQoD GH SRQWR GH YLVWD SURGX] XPD
PXGDQoDQDIRUPDFRPRDOX]pUHIOHWLGD
3DUDDPDLRULDGHQRVVRVREMHWLYRVSUiWLFRVHVWDVGLIHUHQoDVQmRWrPLPSRUWkQFLD
DOJXPD PDV SDUD R SLQWRU VmR PXLWR LPSRUWDQWHV 2 SLQWRU WHP GH SHUGHU R
KiELWRGHSHQVDUTXHDVFRLVDVSDUHFHPWHUDFRUTXHRVHQVRFRPXPDILUPDTXH
³UHDOPHQWH´ WrP H KDELWXDUVH DR LQYpV GLVVR D YHU DV FRLVDV WDO FRPR
DSDUHFHP (LV DTXL D RULJHP GH XPD GDV GLVWLQo}HV TXH PDLV FDXVDP
GLILFXOGDGHVQDILORVRILDDGLVWLQomRHQWUH³DSDUrQFLD´H³UHDOLGDGH´HQWUHRTXH
DV FRLVDV SDUHFHP VHU H R TXH HODV VmR 2 SLQWRU GHVHMD VDEHU R TXH DV FRLVDV
SDUHFHP VHU HQTXDQWR R KRPHP SUiWLFR H R ILOyVRIR GHVHMDP VDEHU R TXH VmR
&RQWXGR R ILOyVRIR GHVHMD HVWH FRQKHFLPHQWR FRP PXLWR PDLV LQWHQVLGDGH GR
TXHRKRPHPSUiWLFRHVHQWHVHPXLWRPDLVSHUWXUEDGRSHORFRQKHFLPHQWRGDV
GLILFXOGDGHVTXHH[LVWHPSDUDUHVSRQGHUDHVWHSUREOHPD
9ROWHPRVDRH[HPSORGDPHVD2TXHYLPRVWRUQDHYLGHQWHTXHQmRKiQHQKXPD
FRU TXH GH PRGR GLVWLQWR SDUHoD VHU D FRU GD PHVD RX PHVPR GH XPD
GHWHUPLQDGDSDUWHGDPHVD'HSRQWRVGHYLVWDVGLIHUHQWHVDPHVDSDUHFHVHUGH
FRUHVGLIHUHQWHVHQmRKiUD]mRDOJXPDSDUDTXHFRQVLGHUHPRVXPDGHODVFRPR
UHDOPHQWH VXD FRU PDLV GR TXH DV RXWUDV ( VDEHPRV TXH PHVPR GH XP
GHWHUPLQDGRSRQWRGHYLVWDDFRUSDUHFHUiGLIHUHQWHVREDOX]DUWLILFLDORXSDUD
XPFHJRSDUDDFRURXSDUDDOJXpPTXHXVHyFXORVFRPOHQWHVD]XLVHQTXDQWR
TXHQRHVFXURQmRKDYHUiDEVROXWDPHQWHFRUDOJXPDDLQGDTXHSDUDRWDWRHSDUD
R RXYLGR D PHVD SHUPDQHoD LQDOWHUiYHO 3RUWDQWR D FRU QmR p DOJR LQHUHQWH j
PHVD PDV DOJR TXH GHSHQGH GD PHVD GR REVHUYDGRU H GD IRUPD FRPR D OX]
LQFLGH VREUH D PHVD 1D YLGD FRWLGLDQD TXDQGR IDODPRV GD FRU GD PHVD QRV
UHIHULPRVDSHQDVjFRUTXHSDUHFHWHUSDUDXPREVHUYDGRUQRUPDOGHXPSRQWR
GH YLVWD KDELWXDO H HP FRQGLo}HV QRUPDLV GH OX] 0DV DV RXWUDV FRUHV TXH
DSDUHFHP VRE RXWUDV FRQGLo}HV WrP H[DWDPHQWH R PHVPR GLUHLWR GH VHUHP
FRQVLGHUDGDV FRPR UHDLV H SRUWDQWR SDUD HYLWDU TXDOTXHU IDYRULWLVPR VRPRV
REULJDGRVDQHJDUTXHHPVLPHVPDDPHVDWHQKDTXDOTXHUFRUSDUWLFXODU
$PHVPDFRLVDVHSRGHGL]HUGDWH[WXUDGDPHVD3RGHPRVYHUDROKRQXDVYHLDV
GD PDGHLUD PDV DR PHVPR WHPSR D PHVD SDUHFH OLVD H XQLIRUPH 6H D
REVHUYiVVHPRVSRULQWHUPpGLRGHXPPLFURVFySLRYHUtDPRVVDOLrQFLDVUHOHYRVH
GHSUHVV}HVHWRGRWLSRGHLUUHJXODULGDGHVTXHVmRLPSHUFHSWtYHLVDROKRQX4XDO
p D PHVD ³UHDO´" 7HPRV QDWXUDOPHQWH D WHQWDomR GH GL]HU TXH D TXH YHPRV
DWUDYpVGRPLFURVFySLRpPDLVUHDO0DVHVWDLPSUHVVmRPXGDULDSRUVXDYH]VH
XWLOL]iVVHPRVXPPLFURVFySLRPDLVSRGHURVR3RUWDQWRVHQmRSRGHPRVFRQILDU
QR TXH YHPRV D ROKR QX SRU TXH GHYHUtDPRV FRQILDU QR TXH YHPRV SRU
LQWHUPpGLR GH XP PLFURVFySLR" $VVLP PDLV XPD YH] D FRQILDQoD LQLFLDO TXH
WtQKDPRVQRVVHQWLGRVQRVDEDQGRQD
1mR p GLIHUHQWH HP UHODomR j IRUPD GD PHVD 7HPRV WRGRV R FRVWXPH GH ID]HU
MXt]RV VREUH DV IRUPDV ³UHDLV´ GDV FRLVDV H ID]HPRV LVVR GH XP PRGR WmR
LUUHIOHWLGR TXH FKHJDPRV D LPDJLQDU TXH YHPRV HIHWLYDPHQWH DV IRUPDV UHDLV
0DVGHIDWRFRPRWHUHPRVQHFHVVLGDGHGHDSUHHQGHUVHDTXLVHUPRVGHVHQKDU
XPDPHVPDFRLVDDSUHVHQWDDVSHFWRVGLIHUHQWHVVHJXQGRRSRQWRGHYLVWDGHVGHR
TXDODROKDPRV6HDQRVVDPHVDp³UHDOPHQWH´UHWDQJXODUSDUHFHUiWHUGHTXDVH
WRGRVRVSRQWRVGHYLVWDGRLVkQJXORVDJXGRVHGRLVREWXVRV6HRVODGRVRSRVWRV
VmRSDUDOHORVLUmRSDUHFHUFRQYHUJLUQXPSRQWRDIDVWDGRGRREVHUYDGRUVHVmR
LJXDLVRODGRPDLVSUy[LPRLUiSDUHFHUPDLRU*HUDOPHQWHQmRREVHUYDPRVHVWDV
FRLVDV TXDQGR ROKDPRV SDUD XPD PHVD SRUTXH D H[SHULrQFLD QRV HQVLQRX D
FRQVWUXLUDIRUPD³UHDO´DSDUWLUGDIRUPDDSDUHQWHHFRPRKRPHQVSUiWLFRVpD
IRUPD³UHDO´RTXHQRVLQWHUHVVD0DVDIRUPD³UHDO´QmRpRTXHYHPRVpDOJR
TXHLQIHULPRVGRTXHYHPRV(RTXHYHPRVPXGDFRQVWDQWHPHQWHGHIRUPDQD
PHGLGDHPTXHQRVPRYHPRVQDVDODGHPRGRTXHDTXLPDLVXPDYH]SDUHFH
TXHRVVHQWLGRVQmRQRVDSUHVHQWDPDYHUGDGHVREUHDSUySULDPHVDPDVDSHQDV
VREUHDDSDUrQFLDGDPHVD
6H FRQVLGHUDUPRV R VHQWLGR GR WDWR QRV GHSDUDUHPRV FRP GLILFXOGDGHV
VHPHOKDQWHVeFHUWRTXHDPHVDSURGX]VHPSUHHPQyVXPDVHQVDomRGHGXUH]D
H TXH VHQWLPRV TXH UHVLVWH j SUHVVmR 1R HQWDQWR D VHQVDomR TXH REWHPRV
GHSHQGH GD IRUoD FRP TXH SUHVVLRQDPRV D PHVD H WDPEpP GD SDUWH GR FRUSR
FRPTXHDSUHVVLRQDPRVDVVLPQmRpSRVVtYHOVXSRUTXHDVGLIHUHQWHVVHQVDo}HV
TXHUHVXOWDPGDVGLIHUHQWHVSUHVV}HVRXGDVGLIHUHQWHVSDUWHVGRFRUSRUHYHOHP
GLUHWDPHQWH XPD SURSULHGDGH HVSHFtILFD GD PHVD PDV TXH QD PHOKRU GDV
KLSyWHVHVVmRVLQDLVGHDOJXPDSURSULHGDGHTXHWDOYH]FDXVHWRGDVDVVHQVDo}HV
HPERUDQmRDSDUHoDHIHWLYDPHQWHHPQHQKXPDGHODV2PHVPRVHSRGHGL]HU
GHIRUPDDLQGDPDLVHYLGHQWHGRVVRQVTXHREWHPRVEDWHQGRQDPHVD
$VVLPWRUQDVHHYLGHQWHTXHDPHVDUHDOVHpTXHH[LVWHQmRpLGrQWLFDjTXHOD
TXH GH PDQHLUD LPHGLDWD WHPRV H[SHULrQFLD SRU PHLR GD YLVmR GR WDWR RX GD
DXGLomR $ PHVD UHDO VH p TXH UHDOPHQWH H[LVWH QmR SRGH VHU FRQKHFLGD GH
PDQHLUD LPHGLDWD PDV GHYH VHU LQIHULGD D SDUWLU GR TXH p LPHGLDWDPHQWH
FRQKHFLGR ,VVR Gi RULJHP VLPXOWDQHDPHQWH D GXDV TXHVW}HV GLItFHLV D VDEHU
 ([LVWHGHIDWRXPDPHVDUHDO"  (PFDVRDILUPDWLYRTXHHVSpFLHGHREMHWR
SRGHVHU"
3DUD H[DPLQDU HVWDV TXHVW}HV VHUi ~WLO GLVSRU GH DOJXQV WHUPRV VLPSOHV FXMR
VLJQLILFDGR VHMD SUHFLVR H FODUR &KDPDUHPRV GH GDGRV GRV VHQWLGRV jV FRLVDV
TXHVmRLPHGLDWDPHQWHFRQKHFLGDVQDVHQVDomRWDLVFRPRFRUHVVRQVFKHLURVD
GXUH]DDDVSHUH]DHWF'DUHPRVRQRPHGHVHQVDomRSDUDDH[SHULrQFLDGHWHU
LPHGLDWDPHQWHFRQVFLrQFLDGHVWDVFRLVDV$VVLPTXDQGRYHPRVGHWHUPLQDGDFRU
WHPRV D VHQVDomR GD FRU PDV D SUySULD FRU p XP GDGR GRV VHQWLGRV QmR XPD
VHQVDomR $ FRU p DTXLOR GH TXH VRPRV LPHGLDWDPHQWH FRQVFLHQWHV H D SUySULD
FRQVFLrQFLDPHVPDpDVHQVDomReHYLGHQWHTXHVHFRQKHFHPRVDOJRDFHUFDGD
PHVDpSUHFLVRTXHVHMDSRUPHLRGRVGDGRVGRVVHQWLGRVDFRUHVFXUDDIRUPD
UHWDQJXODUDOLVXUDHWFTXHDVVRFLDPRVFRPDPHVDPDVQmRSRGHPRVGL]HU
SHODVUD]}HVMiH[SRVWDVTXHDPHVDpRGDGRGRVHQWLGRRXHQWmRTXHRVGDGRV
GRV VHQWLGRV VmR SURSULHGDGHV GLUHWDV GD PHVD $VVLP VXSRQGR TXH H[LVWD WDO
PHVDVXUJHRSUREOHPDGDUHODomRGRVGDGRVGRVVHQWLGRVFRPDPHVDUHDO
'HQRPLQDUHPRV D PHVD UHDO VH p TXH H[LVWH GH XP ³REMHWR ItVLFR´ 3RU
FRQVHJXLQWH WHPRV GH FRQVLGHUDU D UHODomR HQWUH RV GDGRV GRV VHQWLGRV H RV
REMHWRVItVLFRV$FROHomRGHWRGRVRVREMHWRVItVLFRVpGHQRPLQDGDGH³PDWpULD´
$VVLP DV QRVVDV GXDV TXHVW}HV SRGHP VHU UHFRORFDGDV GD VHJXLQWH IRUPD 
([LVWHWDOFRLVDFRPRDPDWpULD" (PFDVRDILUPDWLYRTXDOpVXDQDWXUH]D"
2 SULPHLUR ILOyVRIR TXH H[S{V FODUDPHQWH DV UD]}HV SDUD FRQVLGHUDU RV REMHWRV
LPHGLDWRVGRVQRVVRVVHQWLGRVFRPRQmRH[LVWLQGRLQGHSHQGHQWHPHQWHGHQyVIRL
RELVSR%HUNHOH\  6HXV7UrVGLiORJRVHQWUH+LODVH)LORQRXVFRQWUD
RVFpWLFRVHDWHXVSURFXUDSURYDUTXHQmRH[LVWHWDOFRLVDFRPRDPDWpULDHTXH
RPXQGRFRQVLVWHDSHQDVGHPHQWHVHVXDVLGHLDV+LODVDFUHGLWDUDDWpRPRPHQWR
QDPDWpULDPDVQmRSRGHFRPSHWLUFRP)LORQRXVTXHROHYDLPSODFDYHOPHQWHD
FRQWUDGLo}HV H SDUDGR[RV H ID] D QHJDomR GD PDWpULD SDUHFHU QR ILQDO DOJR GH
VHQVRFRPXP2VDUJXPHQWRVTXHHPSUHJDVmRGHYDORUPXLWRGHVLJXDODOJXQV
VmR LPSRUWDQWHV H FRUUHWRV RXWURV FRQIXVRV H VRItVWLFRV 0DV %HUNHOH\ WHP R
PpULWR GH WHU PRVWUDGR TXH D H[LVWrQFLD GD PDWpULD p VXVFHWtYHO GH VHU QHJDGD
VHPDEVXUGRHTXHVHKiDOJXPDVFRLVDVTXHH[LVWHPLQGHSHQGHQWHPHQWHGHQyV
QmRSRGHPVHURVREMHWRVLPHGLDWRVGHQRVVDVVHQVDo}HV
+iGXDVGLIHUHQWHVTXHVW}HVLPSOtFLWDVTXDQGRSHUJXQWDPRVVHDPDWpULDH[LVWHH
p LPSRUWDQWH H[SOLFLWiODV 3RU ³PDWpULD´ JHUDOPHQWH HQWHQGHPRV DOJR TXH VH
RS}H D ³PHQWH´ DOJR TXH SHQVDPRV TXH RFXSD HVSDoR H TXH p FRPSOHWDPHQWH
LQFDSD]GHTXDOTXHUSHQVDPHQWRRXFRQVFLrQFLDeSULQFLSDOPHQWHQHVWHVHQWLGR
TXH %HUNHOH\ QHJD D PDWpULD RX VHMD HOH QmR QHJD TXH RV GDGRV GRV VHQWLGRV
TXH FRPXPHQWH WRPDPRV FRPR VLQDLV GD H[LVWrQFLD GD PHVD VHMDP UHDOPHQWH
VLQDLV GD H[LVWrQFLD GH DOJR LQGHSHQGHQWH GH QyV PDV QHJD TXH HVWH DOJR VHMD
QmRPHQWDOLVWRpTXHQmRVHMDDPHQWHRXDVLGHLDVFRQFHELGDVSRUXPDPHQWH
(OH DGPLWH TXH DOJR GHYH FRQWLQXDU H[LVWLQGR TXDQGR VDtPRV GR DSRVHQWR RX
IHFKDPRVRVROKRVHTXHDTXLORTXHFKDPDPRVGHYHUDPHVDQRVGiUHDOPHQWH
XPDUD]mRSDUDDFUHGLWDUPRVTXHDOJRSHUVLVWHPHVPRTXDQGRQmRRYHPRV1R
HQWDQWR HOH SHQVD TXH HVWH DOJR QmR SRGH WHU XPD QDWXUH]D UDGLFDOPHQWH
GLIHUHQWHGDTXLORTXHYHPRVHTXHQmRSRGHVHUFRPSOHWDPHQWHLQGHSHQGHQWHGD
YLVmRHPERUDGHYDVHULQGHSHQGHQWHGHQRVVDYLVmR%HUNHOH\pDVVLPOHYDGRD
FRQVLGHUDU D PHVD ³UHDO´ FRPR XPD LGHLD QD PHQWH GH 'HXV (VWD LGHLD WHP D
QHFHVViULD SHUPDQrQFLD H LQGHSHQGrQFLD HP UHODomR D QyV PHVPRV VHP VHU 
FRPR GH RXWUR PRGR D PDWpULD VHULD  DOJR FRPSOHWDPHQWH LQFRJQRVFtYHO QR
VHQWLGRGHTXHSRGHULDVHUDSHQDVLQIHULGDQXQFDFRQKHFLGDGHXPPRGRGLUHWRH
LPHGLDWR
2XWURVILOyVRIRVDSDUWLUGH%HUNHOH\VXVWHQWDUDPTXHHPERUDDH[LVWrQFLDGD
PHVD QmR GHSHQGD GR IDWR GH VHU YLVWD SRU PLP GHSHQGH GH VHU YLVWD RX
DSUHHQGLGD GH XPD PDQHLUD RX RXWUD QD VHQVDomR  SRU XPD PHQWH  QmR
QHFHVVDULDPHQWHDPHQWHGH'HXVPDVFRPPDLVIUHTXrQFLDDPHQWHFROHWLYDGR
XQLYHUVR &RPR %HUNHOH\ VXVWHQWDP LVVR SULQFLSDOPHQWH SRUTXH DFUHGLWDP TXH
QmRSRGHH[LVWLUQDGDUHDORXSHORPHQRVQDGDTXHSRVVDPRVVDEHUTXHVHMD
UHDO  D QmR VHU DV PHQWHV VHXV SHQVDPHQWRV H VHQWLPHQWRV 3RGHPRV H[SRU R
DUJXPHQWR FRP TXH VXVWHQWDP VXD RSLQLmR GHVWD IRUPD ³7XGR R TXH SRGH VHU
SHQVDGR p XPD LGHLD QD PHQWH GD SHVVRD TXH SHQVD SRUWDQWR Vy DV LGHLDV QDV
PHQWHV SRGHP VHU SHQVDGDV TXDOTXHU RXWUD FRLVD p LQFRQFHEtYHO H R TXH p
LQFRQFHEtYHOQmRSRGHH[LVWLU´
(P PLQKD RSLQLmR HVWH DUJXPHQWR p IDODFLRVR H QDWXUDOPHQWH RV TXH R
HPSUHJDPQmRRH[S}HPGHXPDIRUPDWmRFRQFLVDHJURVVHLUD0DVYiOLGRRX
QmRRDUJXPHQWRWHPVLGRDPSODPHQWHHPSUHJDGRGHXPDIRUPDRXGHRXWUDH
PXLWRVILOyVRIRVWDOYH]DPDLRULDVXVWHQWDUDPTXHQDGDH[LVWHGHUHDODQmRVHU
DVPHQWHVHVXDVLGHLDV(VWHVILOyVRIRVVmRGHQRPLQDGRVGH³LGHDOLVWDV´4XDQGR
SURFXUDPH[SOLFDUDPDWpULDGL]HPFRPR%HUNHOH\TXHHODQmRpGHIDWRRXWUD
FRLVDDQmRVHUXPDFROHomRGHLGHLDVRXFRPR/HLEQL]  TXHRTXH
DSDUHFH FRPR PDWpULD p QD UHDOLGDGH XPD FROHomR GH PHQWHV PDLV RX PHQRV
UXGLPHQWDUHV
0DVHPERUDHVWHVILOyVRIRVQHJXHPDPDWpULDFRPRDOJRTXHVHRS}HjPHQWH
HOHV D DGPLWHP FRQWXGR HP RXWUR VHQWLGR 5HFRUGHPRV DV GXDV TXHVW}HV TXH
DSUHVHQWDPRV D VDEHU   ([LVWH GH IDWR XPD PHVD UHDO"   (P FDVR
DILUPDWLYR TXH FODVVH GH REMHWR SRGH VHU" 2UD WDQWR %HUNHOH\ FRPR /HLEQL]
DGPLWHPTXHH[LVWHXPDPHVDUHDOPDV%HUNHOH\GL]TXHHODFRQVLVWHHPFHUWDV
LGHLDVQDPHQWHGH'HXVH/HLEQL]DILUPDTXHpXPDFRO{QLDGHDOPDV$VVLP
DPERV UHVSRQGHP GH PRGR DILUPDWLYR D SULPHLUD TXHVWmR H GLYHUJHP GD YLVmR
GDV SHVVRDV FRPXQV DSHQDV QD UHVSRVWD j VHJXQGD TXHVWmR 1D YHUGDGH TXDVH
WRGRV RV ILOyVRIRV SDUHFHP FRQFRUGDU TXH H[LVWH XPD PHVD UHDO TXDVH WRGRV
DGPLWHP TXH DLQGD TXH RV GDGRV GRV VHQWLGRV  D FRU D IRUPD D OLVXUD HWF 
GHSHQGDPGHDOJXPPRGRGHQyVDVXDRFRUUrQFLDWRGDYLDpXPVLQDOGHDOJR
TXHH[LVWHLQGHSHQGHQWHPHQWHGHQyVDOJRTXHWDOYH]GLILUDFRPSOHWDPHQWHGRV
QRVVRV GDGRV GRV VHQWLGRV H TXH QmR REVWDQWH GHYH VHU FRQVLGHUDGR FRPR D
FDXVD GHVVHV GDGRV GRV VHQWLGRV VHPSUH TXH HVWDPRV QXPD UHODomR DGHTXDGD
FRPDPHVDUHDO
eHYLGHQWHTXHHVWHSRQWRVREUHRTXDORVILOyVRIRVHVWmRGHDFRUGRDRSLQLmR
GHTXHH[LVWHXPDPHVDUHDOTXDOTXHUTXHVHMDVXDQDWXUH]DpGHLPSRUWkQFLD
YLWDO H YDOH D SHQD H[DPLQDU DV UD]}HV GHVWD DFHLWDomR DQWHV GH DERUGDUPRV R
SUREOHPDGDQDWXUH]DGDPHVDUHDO3RUHVWHPRWLYRRSUy[LPRFDStWXORWUDWDUi
GDVUD]}HVSDUDVXSRUPRVTXHH[LVWHGHIDWRXPDPHVDUHDO
$QWHVGHSURVVHJXLUPRVVHUiERPTXHH[DPLQHPRVRTXHpTXHGHVFREULPRVDWp
DJRUD9LPRVTXHVHWRPDUPRVXPREMHWRFRPXPTXDOTXHUGHVVHVTXHVXSRPRV
FRQKHFHU SRU PHLR GRV VHQWLGRV DTXLOR TXH RV VHQWLGRV LPHGLDWDPHQWH QRV
PRVWUDPQmRpDYHUGDGHDFHUFDGRREMHWRWDOFRPRHOHpLQGHSHQGHQWHPHQWHGH
QyV PDV VRPHQWH D YHUGDGH VREUH FHUWRV GDGRV GRV VHQWLGRV TXH WDQWR TXDQWR
SRGHPRV YHU GHSHQGHP GD UHODomR HQWUH QyV H R REMHWR &RQVHTXHQWHPHQWH R
TXH YHPRV H WRFDPRV GH PDQHLUD GLUHWD QmR SDVVD GH PHUD ³DSDUrQFLD´ VLQDO
VXSRPRVQyVGHXPD³UHDOLGDGH´TXHHVWiSRUWUiVGHOD0DVVHDUHDOLGDGHQmRp
R TXH DSDUHFH WHPRV DOJXP PHLR GH VDEHU VH GH IDWR H[LVWH XPD UHDOLGDGH" (
HPFDVRDILUPDWLYRWHPRVDOJXPPHLRGHGHVFREULUHPTXHFRQVLVWH"
(VWDV TXHVW}HV VmR GHVFRQFHUWDQWHV H WRUQDVH GLItFLO VDEHU VH PHVPR DV PDLV
HVWUDQKDV KLSyWHVHV QmR VmR YHUGDGHLUDV $VVLP D QRVVD PHVD FRWLGLDQD TXH
JHUDOPHQWH Vy KDYLD GHVSHUWDGR HP QyV LGHLDV LQVLJQLILFDQWHV WRUQRXVH DJRUD
XP SUREOHPD FRP PXLWDV H VXUSUHHQGHQWHV SRVVLELOLGDGHV $ ~QLFD FRLVD TXH
VDEHPRVDVHXUHVSHLWRpTXHQmRpRTXHSDUHFH$WpDTXLDOpPGHVWHPRGHVWR
UHVXOWDGRWHPRVDPDLVFRPSOHWDOLEHUGDGHSDUDFRQMHFWXUDU/HLEQL]DILUPDTXH
HOD p XPD FRO{QLD GH DOPDV %HUNHOH\ DILUPD TXH HOD p XPD LGHLD QD PHQWH GH
'HXV D FLrQFLD GHVDSDL[RQDGD QmR PHQRV PDUDYLOKRVD DILUPD TXH p XPD
FROHomRGHFDUJDVHOpWULFDVHPLQWHQVRPRYLPHQWR
(PPHLRDHVWDVVXUSUHHQGHQWHVSRVVLELOLGDGHVDG~YLGDVXJHUHTXHWDOYH]QmR
H[LVWDHPDEVROXWRPHVDDOJXPD$ILORVRILDVHQmRSRGHUHVSRQGHUDWRGDVDV
SHUJXQWDV FRPR GHVHMDUtDPRV TXH UHVSRQGHVVH WHP SHOR PHQRV R SRGHU GH
SURSRUTXHVW}HVTXHWRUQDPRPXQGRPXLWRPDLVLQWHUHVVDQWHHUHYHODPRTXHKi
GHHVWUDQKRHPDUDYLOKRVRSRUWUiVDWpPHVPRGDVFRLVDVPDLVYXOJDUHVGDYLGD
FRWLGLDQD

Você também pode gostar