Conceptual basis for the prevention of financial crises

K. Gorelikov (), J. Salikhova () and C. Skribunova ()
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K. Gorelikov: MFPA
J. Salikhova: MFPA
C. Skribunova: MFPA

Journal of Modern Competition, 2011, issue 2, 92-99

Abstract: The system of the prevention of financial crises is an important boundary of struggle against uncontrollable risks and should be developed as one of the important components of wider national strategy of the prevention of crises. In case if one of prevention methods is used only, it can create the false sensation of safety leading to inactivity of groups of risk and responsible bodies. Today the wide approach to the prevention of crises, in which frameworks the system carries out not only information function, is applied, but also offers measures on decrease in probability of occurrence of crises and reduction of their social and economic consequences. In such kind the prevention system carries out a function not only decrease in risks, but also crises preventions, reduction of consequences at each stage of its development.

Keywords: crisis; globalization; system approach; financial risk; early warning system; forecasting; regulation; supervision (search for similar items in EconPapers)
Date: 2011
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