THE ROLE OF INFORMATION IN GROWTH OF INSTITUTIONAL RESILIENCE

Mirea-Gheorghe Berechet and Simona–Ionela Becherescu,
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Mirea-Gheorghe Berechet: School of Advanced Studies of the Romanian Academy (SCOSAAR), Bucharest, Romania
Simona–Ionela Becherescu,: School of Advanced Studies of the Romanian Academy (SCOSAAR), Bucharest, Romania

Journal of Financial and Monetary Economics, 2017, vol. 4, issue 1, 45-50

Abstract: In the age of knowledge that mankind is currently going through, information is the basic element that has led to a paradigm shift in all social spheres. As a neo-factor of production, it is the basis of innovation, an essential element of increasing economic competitiveness. Continued adaptation leads to increasing the capacity of an institution, with public or private capital, to respond quickly to challenges, mitigate risks and ultimately face change. Thus, the risk management mode that the institution can assume or, more precisely, determine its acceptable level, makes the difference between resilience and collapse. This approach aims to address information issues, how it impacts institutional resilience, and at the same time attempts to identify various ways to increase their anti-fragility.

Keywords: information; knowledge; risk; institutional resilience; management (search for similar items in EconPapers)
JEL-codes: D81 D83 G32 (search for similar items in EconPapers)
Date: 2017
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