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Theoretical aspects regarding systemic risk and managerial decisions during the crisis

Author

Listed:
  • Constantin Anghelache

    (Bucharest University of Economic Studies, „ARTIFEX” University of Bucharest)

  • Bodo Gyorgy

    (Bucharest University of Economic Studies)

Abstract

The Romanian National Bank’s governor, recently said, that for the first time in Romania it was identified a severe systemic risk. In this paper we try to analyse the context when a risk can be considered having the level of systemic risk and which are the main factors (external or internal) that can cause this process. We also analysed the context when due to the large scale interconnection between the financial institutions, a shock suffered by one or more market players, could be spread toward to other players generating a systemic crisis. Finally, we analysed shortly the role of National Bank of Romania in the Romanian banking system monitoring/supervising and its effort for keeping the systems stability and to avoid the crisis, or at least limiting the effects of a crisis by introducing diminishing measures for systemic shocks. We shall try to foreshadow the role of managerial decisions in maintaining microstability.

Suggested Citation

  • Constantin Anghelache & Bodo Gyorgy, 2016. "Theoretical aspects regarding systemic risk and managerial decisions during the crisis," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(12), pages 110-116, December.
    • Handle: RePEc:rsr:supplm:v:64:y:2016:i:12:p:110-116
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Madalina-Gabriela ANGHEL & Marian SFETCU & Gyorgy BODO & Doina BUREA, 2017. "Bank Risk Management," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(11), pages 87-94, November.
    2. Constantin ANGHELACHE & Marian SFETCU & Gyorgy BODO, 2017. "Analysis Of Banking Risks In The Context Of The Basel Agreements," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(12), pages 83-89, December.
    3. Aurelian DIACONU & Doina AVRAM, 2017. "General Aspects of Risk and Uncertainty in Making Financial – Economic Decisions," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(6), pages 40-50, June.
    4. Aurelian DIACONU & Alexandru BADIU & Doina AVRAM & Doina BUREA & Marius POPOVICI, 2017. "Operational Risk Management," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(5), pages 221-229, May.

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    More about this item

    Keywords

    Systemic risk; financial crisis exposure; contamination; interconnected; liquidity shock; network; Value at Risk;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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