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System Risk In Contemporary Society

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  • Constantin Ciurlau
  • Ilie Murarita
  • George Ciobanu

    (University of Craiova Faculty of Economics and Business Administration)

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    Abstract

    Study of risk has become more and more lately, the whole general theory of management due to increasing complexity of structural relations of the whole economic and social system, plus the development of science and technology, which has led to important changes in approach theoretical and practical aspects of risk and uncertainty. Were imposed, first, the concepts „risk” and „uncertainty” in general. Grade of „risky” is, in everyday language, a rather negative connotation and indicates that the purpose of the action in question may be totally unfavourable of those who initiated it, the economy, however, this qualification is synonymous with „uncertain” - risky situation whose completion is partially escapes the control of its originator and, therefore, can reserve surprises. F.H.Knight1 these two notions of significant nuanced. This study focuses specifically on the definition and sources of system risk and its association with financial crises.

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    Bibliographic Info

    Article provided by University of Craiova, Faculty of Economics and Business Administration in its journal Annals of Computational Economics.

    Volume (Year): 3 (2011)
    Issue (Month): 39 ()
    Pages: 218-227

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    Handle: RePEc:aio:aucsse:v:3:y:2011:i:39:p:218-227

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    Related research

    Keywords: risk; uncertainty; system risk; information asymmetry; prudential device; regulation; supervision; coordination; intrinsic myopia;

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