Theoretical aspects regarding systemic risk and managerial decisions during the crisis

Constantin Anghelache and Bodo Gyorgy
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Constantin Anghelache: Bucharest University of Economic Studies, „ARTIFEX” University of Bucharest
Bodo Gyorgy: Bucharest University of Economic Studies

Romanian Statistical Review Supplement, 2016, vol. 64, issue 12, 110-116

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.

Keywords: Systemic risk; financial crisis exposure; contamination; interconnected; liquidity shock; network; Value at Risk (search for similar items in EconPapers)
JEL-codes: D80 D81 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:rsr:supplm:v:64:y:2016:i:12:p:110-116

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