Preventing and Mitigating Crisis Phenomena and Risks in the New Global Architecture

The paper addresses the issue of financial and bankruptcy risks, taking into account the globalization of the economy in recent decades, as well as the role of supranational institutions in achieving this phenomenon and in managing the contagion effects that may arise. The factors that can generate these risks at the local, regional and global levels are analyzed, and this entire approach takes into account the changes that have occurred in recent decades in the world economy, as a result of globalization. It is known that the phenomenon of globalization has brought benefits to the economy by reducing transaction costs, increasing global trade and diversifying supply and production. Even under these conditions, with this globalization, new risks have emerged, and the existing ones have become stronger and more susceptible to the contagion phenomenon. Thus, economies have become more integrated, but more vulnerable in the event of a shock in a particular country, in the sense of increasing the speed with which this shock is transmitted at a regional or even global level. Supranational institutions have made an important contribution to the achievement of the new global economic architecture, but they have also contributed to increasing the contagion effect in situations of tension, and in return they have come up with a series of measures and projects that contribute to mitigating the new types of risks that have emerged. Therefore, the paper addresses exactly this direction of the role of supranational institutions in mitigating contagion risks, which should contribute to the smooth running of the economy and help in managing financial and bankruptcy risks in the context of the new globalized economic architecture.